Think about all the important documents that serve as the lifeblood of any business. Financial reports, invoices and non-disclosure agreements are a few that come to mind.
Now think about how these crucial documents are managed. Do you store them in a filing cabinet? Are some sprawled all over your desk? Do the documents have to be transported manually and signed by hand?
As you can see, there are quite a few disadvantages to using a paper-based document management system. But the most significant downside is the lack of security. Here are three security threats that every paper-based document management system is vulnerable to:
Human Error
Let’s get the obvious out the way: humans are imperfect. And if there’s one thing that imperfect beings are susceptible to, it’s misplacing things. How many times have you lost valuable work time looking for a document you misfiled? How about the time a wrench was thrown into a business process because of a misplaced file? A digital document management system makes this problem non-existent by taking the hassle out of indexing and finding documents.
Acts of God
Water and fire are just two of the natural elements that could destroy your documents. If someone spills water on an important record, the ink will smear and render the text illegible. If a fire sweeps through your office and destroys your archive, would you be able to recover the information? A digital document management system replaces filing cabinets with a digital repository that allows you to store, retrieve, and manage all your documents.
Data Breaches
Paper-based document management systems give the illusion of safety without the actual benefits. When information is placed in a filing cabinet, it’s far easier to access and steal. If someone were to take and duplicate your documents, would you be able to tell something had gone wrong? The files in an EDMS (electronic document management system) cannot be accessed or changed without proper authorisation.
It’s clear that digital document management is the superior option for businesses seeking to protect their documentation. If you’re using a paper-based document management system, consider what you’re missing out on — a centralised cache where you can store and manage your information. What more could you ask for?
