Probably the most apparent reason that document version control is essential is productivity. Comparing changes between several versions of the same file takes time and reduces productivity. In fact, according to the 2019 Intelligent Information Management Benchmark Report, 46% of workers find it challenging and time-consuming to find the documents they need. Even worse, 83% have to recreate existing documents because they can’t find what they need.

That’s a lot of lost productivity. M-Files fixes this problem with metadata.

You can find any information simply by searching for what it is, without knowing where it is stored. A few keystrokes and a couple of clicks can get workers the necessary information. A document has only one workable version, and the history contains older versions. Files are updated automatically to save even more time and prevent errors.

Compliance

Certain industries, such as credit unions, require highly regulated document management methods, which makes superior document version control software crucial. With M-Files, complete file workflows can be managed—from creation through editing, review, approval, signing, retention, or disposal.

Using M-Files, organizations can establish workflow processes that follow company guidelines and adhere to any regulatory requirements. Everything can be easily accessed—changes, dates, time stamps, people, etc. —from an extensive change log. This log records all interactions with the file throughout its lifecycle, making it easy to access for audits.

Security

Along with compliance, the security of files is vital for any business. Understanding a document’s change history can be helpful when it undergoes numerous changes. Document version control makes it easy to track who edits each document and when. This can also protect files from unauthorized access or inadvertent leaks.

M-Files makes it easy to share the right documents at the right time with the right people while also ensuring files are safe. This not only makes compliance easier, but it also gives customers a reason to put their trust in you, knowing their sensitive information is secure.

Document Version Control Simplifies Business Processes

Document version control makes business processes simple through automation that ensures documents are created, stored, distributed, retained, and disposed of in a manner that complies with company policy and regulatory requirements.

M-Files can save you time and money while ensuring compliance and boosting document security. Contact us today to schedule your consultation if you’re ready to make your business run more smoothly. You’ll see how our expertise and products can help you grow your business.