Documentation is an important element of the functions and operations of an enterprise. The management of documents is equally important for safety, quality control, and regulatory compliance. Speaking of quality control, it comprises of main documents like inspections, audits, complaint management, change, CAPA, regulatory compliance, and supplier-related documents. Today, we’ll discuss what is an electronic document management system (EDMS); its significance, features, advantages, why you need it, and FAQs.
What is Electronic Document Management System?
Electronic Document Management System (EDMS) is a software program that allows you to develop, proofread, edit, revise, process, and store different types of documents ranging from audio/video, images, and text files. It offers a single view to check all the documents by combining features like printing, scanning and storing. However, it combines various applications like CRM and ERM that the company is using and automates the workflow relevant to documents.
Significance of Electronic Document Management System
Here are some of the reasons why EDMS is important for businesses and companies;
Data breaches and cyber-attack are constant threats lurking on the shoulders of businesses and companies. They have to protect it because their documents comprise sensitive information like trade secrets, details of stakeholders, suppliers, and financial information. EDMS makes sure the safety of the documents by offering role-based access, encryption, and other measures.
Revision and traceability are a nightmare even in the presence of digital storage because you have to develop new documents and destroy the obsolete documents. EDMS has made the complete process simple and easy. For instance, it allows you to apply the regulatory rules on the filing system and get the desired results rather than changing it all physically.
It offers expiry dates to the files, and you don’t have to destroy the files with this option. It’s better to set a scheduled date and receive a notification, rather than tracking it later.
The cost of manual document storage and management is very high. Along with heavy cost, it also requires a huge building space, shelves, and a staff to update the record from time to time. When you have more documents, then the cost and space requirement would increase. However, destroying the obsolete record is an even bigger problem because you have to deal with the waste afterward. For instance, if something happens to the building or the storage facility, then it would jeopardize your documented record.
If you’re managing the documents through the manual system; when you need a certain document urgently, and you can’t find it at that time, then it impacts your business growth and productivity. EDMS system allows you to keep your documentation well organized and searchable, and the efficiency of the system saves you time.
Features of EDMS
Some of the main features of EDMS are as follows;
- Creating Documents: it allows you to develop new files or enter a new file from the website, mobile application, emails, or scanned documents.
- Indexing Documents: finding the required file is one of the main features, if you’re using tags and index it properly, and then it amplifies the search
- Searching Documents: the search bar allows you to use various filters like file name, tagging, metadata, content name, or other advanced features to find the relevant file
- Processing Documents: EDMS has OCR (optical character recognition) or ICR (intelligent character recognition) capabilities that allow you to convert a paper document into an electronic format. It has the option of the built-in editor, revision, or sharing of documents.
- Security: the company wants to protect its document from unauthorized access or any external threat. EDMS is secure software and it offers access only to authorized personals
- Dashboard: it provides you analytics and reporting system about the usage, access, scheduling, workflow, and performance of the company
- Customization: the documentation of different organizations are different, and it allows you to match with the needs of your company
- Additional Features: like mobile readiness, flexible, scalable, future-ready, collaboration, and multilingual
- Versioning: it’s necessary for internal/external audits, regulatory purposes, inspections, and it allows you to trace the changes being made and made by whom
Advantages of Electronic Document Management System
Some of the main advantages of EDMS are as follows;
The system usually uses cloud storage as a backup system in order to make sure the safety of the critical files at the remote location, instead of relying on the storage of your office. In other words, it works as an insurance policy against the loss of your company’s files.
Some companies like the medical industry have to follow regulatory guidelines and regulations for accessing, storing, and destroying the data, and do it by HIPPA or HITECH.
It allows you to know who has access to the why type of data and files, and you can use encryption to further protect the company’s data from accessing everyone.
Whenever anyone accesses the data or makes changes to it, you can track it down in terms of the day, time, and who made it, and what changed it. It even allows you to remove those changes
Fast & Easy Retrieval
Digital documents, data, and files are easy to develop and access. Any person who has the authorization could access it at any time from anywhere. Most importantly, it allows you to find the data by using certain keywords.
Some of the frequently asked questions and their answers are as follows;
What is EDMS?
EDMS is a computer application system or technology that uses various processes and policies to manage digital and electronic documents. It automates the workflow of documentation from development to destruction when they expire.
Is it only for electronic files?
EDMS converts paper documents into scanned image files. It also helps you to manage audio/video files.
What to keep in mind while choosing EDMS?
EDMS allows you to develop, manage, and store data in the form of audio/video files, images, or written files. It has an advanced searching option that can scan all types of documents. It offers secure access to its authorized personals.
What is the difference between Electronic Data Management Software, EDMS, and Document Control?
There are various names for the same functional system, and its goal is to have control over documents efficiently and effectively.
Conclusion: What is Electronic Data Management System (EDMS)?
After an in-depth study of what is electronic data management system; its significance, advantages, and FAQs; we’ve realized that EDMS has become very important for businesses in today’s world. If you want to use EDMS for your organization, then you should use keep in mind the features and benefits that how you could use them for your company.
Ahsan Ali Shaw is an accomplished Business Writer, Analyst, and Public Speaker. Other than that, he’s a fun loving person.