Digital document storage makes it much easier for your staff to archive, search and find information when they need it. This improves productivity, increases data quality and accuracy, and enables your team to collaborate efficiently and quickly.
Digital documents also improve security, as central storage eliminates the need for filing bins, cabinets and boxes, which are all easy targets for fire or theft. A central system dataroomhub.org/what-is-a-knowledge-management-system-in-business/ safeguards your files using access controls, two party authentication, digital encryption or passwords.
With a digital repository your documents are available everywhere on any device — including smartphones, tablets, and desktops–with an internet connection that is secure. This lets your team work from their home, office, or wherever else they have access to a reliable network.
You can also cut down on waste by storing your files digitally. Not only does this save you money on the expense of storing and shipping physical files, but it also reduces your environmental footprint by reducing the number of trees used for printing and the energy required to move those documents to the desks of every employee.
In addition the digital repository gives you a single source of truth for all your records, which means that everyone has access to the most current version. There’s no need for digging through old files to find the right document or locating an old version that has been altered and shared. This allows your team to be more efficient and precise while making sure that the most pertinent documents are readily available for signature.
A digital document management system (DMS) can also allow you to automate workflows and business processes, streamline compliance with legal requirements, and improve accessibility and efficiency. For example redundancy detection can identify duplicate files and data which allows you to delete them and reduce storage costs. It can also help you meet the requirements of regulations and other regulatory bodies by keeping accurate logs and audit trails.
