Are you operating a business that needs a paper trail for legal or business purposes? You might need DMS in the coming years to help you manage it. DMS stands for Document Management System and its latest innovation is data processing for businesses.
In this article we outline what a DMS is and why you need one for your business.
What Is a Document Management System?
Although the digital revolution is in full swing and there’s no going back to the old ways of doing business, many companies still live in a world of paper data. This is a hangover from the past and isn’t likely to last.
It’s for this reason the Document Management System (DMS) industry is expected to grow by $5 billion dollars by 2025. A DMS is a software option that allows companies to easily copy paper data into an electronic format and store it in an index.
What Is the Difference Between a CMS and a DMS?
Most people have heard of a Content Management System (CMS) which is the System used to organise, store and edit content created electronically. It is often used by writers, bloggers and online content creators – find out more at this site.
The difference is that a DMS service uploads, extracts and stores this data, it doesn’t help create it or edit it. A DMS is useful if your business has a lot of paper trails or is making the switch to cloud based solutions.
Key Functions of a DMS
Like a CMS and DMS has some key functions that aren’t available elsewhere. Naturally, this includes the ability to scan and upload paper data into an electronic format. It also had the ability to store, search, track and index data.
After you have scanned the paper data into the DMS the system will upload it and store it using a personalised indexing function. This allows users to easier track and retrieve data that’s stored. The system is highly secure and used by large financial institutions.
Types of Content Stored
So what type of content would you want to store using a DMS? And when would it be advisable to invest in this system? Clearly there’s no point if you only have a few files that need uploaded. The answers largely depend on the needs and requirements of your business.
A DMS typically stored three types of data. There is scanned data, electronic data, and active and inactive records. Scamnedbdatanis simple paper data while electronic data is the type of documents already created online. A DMS can also store this. Active and inactive records refers to data in motion.
Over the last few years the world has become more and more digital. More companies are moving onto cloud based services as the security improves and there’s a growing need to transfer so much paper data to an electronic format. That’s why DMSs are expected to grow.
When your company’s data is stored in the cloud it is more secure than in a paper format that could easily be stolen or damaged. E-data can not only be secured but also effectively backed up. Efficient e-data is also needed for data security purposes.