Why Document Management is Essential for Small Businesses

Do you feel your business drowning under the sea of paper documents? Implement document management software today and absolve yourself of all data storage worries. This type of software is designed to handle electronic documents with extraordinary efficiency, whether you're running a multinational company, or operating as a sole proprietor.

So, what exactly is document management software? It's a system that helps you store, manage, locate, and retrieve business documents digitally. Of course, all this can be achieved with physical files and shelves as well, but they have their limitations.

A small business may not have to deal with as many documents as, let’s say, a school or a multinational firm, but with time, they will also amass tons of files - whether they are purely electronic or a combination of both electronic and paper documents. Moreover, you should also consider the fact that small businesses do not have the necessary manpower to effectively manage their data as compared to larger firms.

So let’s look at the reasons why purchasing document management software presents itself as a viable solution. Think about a scenario where you are saving documents without a proper system in place. You are likely to store them in very broad categories. This works perfectly when you only have a limited number of documents to work with. But once legal certificates, insurance papers, invoices, and payment data began to accumulate as you expand, such random storage methods wouldn’t work anymore.

But if you are using document management software, you can save documents using metadata so that future retrieval becomes extremely easy. So let’s say you completed a sale; the data will be entered and saved the day an invoice is created, such as the client’s name, or the pricing information. The best part is that when you are using metadata, you can include multiple tags which allow you to search for the same document with different bits of information in case you forget a few details. Thus, document retrieval becomes faster and easier.

Document Management Software also integrates with other tools you're already use, like quickbooks for accounting, keeping all your transactions and accompanying documents in one place.

While large enterprises require document management systems with custom features and complex parameters with a large price tag, DocuXplorer Professional and DocuXplorer Teams offer a similarly robust solution, but built to fit the budget of a small business.