8 Reasons why Document Management is a must for your business
Too many business owners think that document management is only for huge corporations with endless resources. But the truth is, even small businesses can benefit from implementing a good document management system. Cyril Quenneville, director of AGS Malaysia, explains eight reasons why.
1. Legal compliance
Conservation can be a real headache, especially since legal retention periods vary according to the type of document. But thanks to better control of information and documentation processes, companies are developing the quality of their records management, effectively reducing the number of cases of non-compliance. Executives should make improved record-keeping a priority. It allows them, among other things, to be legally secure with the right documents at hand should the need arise.
2. Better security and business continuity
Careful documentation management improves protection and data security, reducing the risk of data leakage or theft. This is a boon for companies that have had to strengthen their security since the introduction of the Personal Data Protection Act (PDPA). The right document management system allows for organised and secure retention of data, as well as full tracking of the document’s movement, from the moment it is checked out of storage to the moment it returns, even providing the identity of the requester.
Mastering the document lifecycle streamlines a number of daily duties and allows companies to be in full control while adhering to legislative demands.
Entrusting your documents to third-party archivists, otherwise known as records management specialists, is a great way to ensure the integrity of your documents. The practice allows your business to bounce back quickly and with ease in the event of a disaster. In short, document management specialists are a true ally of any good business continuity plan!
3. Optimised organisation and access
Salary slips, invoices, contracts, insurance… the volume of documents companies must contend with grows daily and can quickly impact your team’s day-to-day productivity. When you entrust your document management to a specialised company, they will do a full audit of the existing methods of document filing, identification, and processing and make recommendations based on your business needs. Your company becomes more efficient and learns to sort its documents wisely.
The initial phase of auditing both existing and available information is a valuable aid to managing activities. This crucial first step helps managers to make key choices that promote a strategy of making information accessible.
4. Time saving
Time is money, and in business you don’t want to waste a minute of it. Optimising the structure of your document management benefits your company. Implementing an efficient procedure allows your employees to locate a document quickly, file it in the right place, at the right time, and interact with it easily.
5. Space gains
Every square meter of your business premises is valuable real estate, so it makes sense that you want the paper generated by your activities to occupy as little space as possible. In the face of the increasing number of documents that need to be retained and the cost per m2, it is in your best interest to opt for an effective records management system. Clearing space by properly storing your documents allows you to recover floor space, thereby improving working conditions for employees – a priority today for many companies. For maximum gains, you can employ the services of document management and archiving specialists who will store and manage your documents off site.
6. Optimised management
Technological advancements have opened the door for records management specialists to offer electronic solutions for the preservation of certain documents. This means that companies can now opt for the solutions that suit them best – even a mix of physical and digital archiving. With digital solutions, the benefits are numerous: logistical costs (usually associated with processing paper-based documents) are lowered, space is regained, and documents are stored safely and securely.
Knowing how to manage volume while retaining only the essentials is a flexibility highly sought after by most managers.
7. Increased productivity
Improved organisation, saving time and saving space automatically result in increased productivity. Having a better filing system and adopting the most efficient document management procedures allow improved workflow. Exchanges between your employees are more streamlined, facilitating collaborative work. Information sharing is more dynamic within teams or with external stakeholders.
8. Improved customer service
The faster you can retrieve a document for your customers, they more satisfied they’ll be and the more likely they’ll tell their networks about the great service they got. A good document management system allows you to quickly process information, improving your relationship with existing customers and increasing your ability to gain new ones.
When information flows better between your company and your customers, processes are shortened, improving transparency and responsiveness. In turn, this strengthens your business image, a primary goal for every business owner.
Take the first step to efficiently managed records with AGS Malaysia
AGS Malaysia offers tailor-made physical and electronic records management services for every stage of the document lifecycle, including secure document destruction.
With biometric access control and anonymised storage, our 1 000m2 secure warehouse in Kuala Lumpur is the ideal home for your physical documents. Our electronic services include document scanning, hosting, and retrieval.
For a no-obligation assessment of your records management needs, contact cyril.quenneville(@)ags-globalsolutions.com.
