Every business, big & small, is required to manage its records. Business records are essential during tax filings and audits and help businesses gain a better understanding of their profits and losses.. Larger organizations use proprietary software to store & share business records.
On the contrary, smaller organizations & individual contractors like plumbers, accountants, etc rarely have the budget to purchase such expensive software. They instead use a combination of different tools like emails and drives to store and share documents. But using multiple tools for document management can adversely affect productivity and result in document misfilings & errors.
So how should small businesses store & share documents? By using cloud document management software. Most document management software is not as expensive as proprietary systems, and allows you to perform every single document activity like document storing, organizing, sharing, securing, tracking, etc., using a single file sharing platform.
Document management software like SOHODOX also integrates with file-storing apps like Dropbox, which allows you to transfer documents with ease. In their essence, document management systems digitize & automate day-to-day document processes, thereby allowing you to focus on other things like reviewing customer feedback or spending more time with loved ones & more.
Which small businesses can benefit from document management software?
Have you ever said to yourself, “I wish I could hire someone else to handle the paperwork”. If the answer is yes, your business can definitely benefit from investing in a document management system. Basically, any business that encounters tons of paperwork can benefit with document management software.
How does document management software improve file storage & sharing for small businesses?
Reduces Costs
Document management can be expensive. There are costs associated with every document process like the cost of printing, invoicing, archiving, disposal & more. Cloud document management systems combine all the above processes & allow businesses to invest their time & money on other avenues like research & marketing.
Simplifies Processes
Imagine having to print, store & share every invoice manually. This would not only take an enormous amount of time, but could also result in filing errors. Document management software simplifies the entire invoicing process, and all other document processes, by allowing you to execute all the above tasks within the same software.
Increases Accessibility
Staying connected to your information is important, even for small businesses. For example, a store owner might need access to the inventory list to place the next order. Or an accountant might need access to client files to make filing changes. A document management system lets you access, store & share any document from anywhere with an internet connection.
Supports Collaboration
Online file storage makes it possible for multiple users to log in to the system & access files from their respective devices. This allows multiple users to collaborate on the same documents & review changes in near real-time. Multi-user collaboration reduces project turnaround time & helps businesses finish document processes faster.
Improves Security
Document management software provides additional security features like private folders & individual user credentials that allow administrators to control which user gets access to which documents. Few document management systems such as GLOBODOX also come with advanced security features such as document encryption, role based hierarchical security which ensures only authorized users can access the documents.
Enables Scalability
Expanding a business to meet its growing needs can be a challenge. Physical documents require additional storage space, while digital documents only require additional storage capacity. However, buying cloud storage can be a hassle, particularly when dealing with multiple apps and platforms. With document management software, you can effortlessly expand your business and acquire additional storage space with just one click.
