How many times have you saved multiple versions of the same document and then struggled to find the current version of a document?

These are all common issues for most businesses, and they perfectly demonstrate why you need a document management system. But why are these issues common in the first place?

Challenges Finding Information

In most cases, the struggle to find the needed information is due to a document being labeled incorrectly or being saved in the wrong folder.

Other reasons, as you can see in the infographic on Top Document Management Challenges, include:

• Misplaced or lost information
• The inability to access the needed information from all devices
• Not knowing which repository has the needed information
• Being unsure which version of the document is correct
• Not having access to the correct system from which to gather the information

It all boils down to human error, along with a combination of unstructured information across various disconnected systems. Once you eliminate the lack of structure and connectivity of systems, human error becomes minimal. However, challenges in finding information are only part of the problem.

Document Approval

A whopping 65% of workers struggle with getting documents reviewed and approved! Does that number seem excessive to you? Let’s break it down and find out why this number is so high.

The biggest challenge is the need for a physical signature on documents, even in this age of eSigning documents. This problem could be eliminated with documents being automatically pushed through workflows to be reviewed and signed as needed.

Other issues with document approval include processes being too complicated or time-consuming, not being promptly notified when a document needs approval, and not being able to access a document from a mobile device if needed.

These may seem like very small issues, but they add up to a great deal of inefficiency. And in business, inefficiency can have dire consequences, usually in the form of higher costs to get a job completed. What business wouldn’t benefit from higher efficiency and lower costs?

Document Management System Solutions

Fortunately, no business has to operate inefficiently. The solution is a simple matter of implementing an intelligent document management system like M-Files.

Workers can simply input a customer name or project number and locate all the needed information. They don’t need to know which repository holds the information and they don’t have to search through folders to find a misplaced file. Just type in the search bar and click—there is the information.

The right document management system will also ensure the information is always up to date. No more accessing the wrong version of the file because there is only one current version. The correct one. Each user makes changes as needed and it’s ready for the next person when they require that document, already updated.

When people need to collaborate on a project, there is no need to send files via email attachments and no worry of sending the wrong files. Just send a link and all users have access to the same documents as well as the most recent changes. Those documents can be accessed anywhere, even on your mobile device. That means issues with approvals and signatures are virtually eliminated as well.

And here’s the bow on the package: all your data is safely encrypted, and you control permissions. No one accesses anything unless you have enabled it. So, the people who need specific documents and data can access it; those who don’t need it can’t.

So, the choice is yours. Implement a document management system that eliminates all the issues with finding, updating, and approving documents, or continue working inefficiently. Which option will make your organization stronger and more competitive?