3 Major Risks of Choosing an Ineffective Document Management System

Posted December 2, 2020

3 Major Risks of Choosing an Ineffective Document Management System

If your document control system isn’t working for you any longer it’s time to look at the benefits of setting up a digital document control system. The documents you have and manage are the bread and butter of your business and should be considered a top priority in terms of the viability of your company. They are the basic foundation of your business and poor management of them can pull your company down.

Some of the documents that you may be managing in your business include the following:

  • Classified documents
  • Policies
  • Procedures
  • Work Instructions
  • Forms
  • Personnel files
  • Strategic plans
  • Contracts
  • Training materials
  • Much more

Document control that isn’t working up to par can create organizational nightmares and costly mistakes. Some of the most common issues that may come about from a weak system for organizing and managing documents include:

  • Loss of productivity
  • Document errors
  • Breaches in security

Digital Document Control System Risks

Breaches in Security
The security of information storage is more important now than it has ever been in the past. This is a digital age where it is easier for security breaches to take place. According to the Harvard Business Review, there have been public data breaches in more than 60% of the Fortune 1000 companies during the last decade. No matter what business you are in, the security of your documents is vital. You must ensure that you have installed effective and secure document control software. Your business counts on it.

Any type of security scandal or breach of data can have negative effects on the reputation of your business. If you have compliance codes that you must follow you may end up breaking the regulations and having to deal with the consequences. You can avoid all of this by using a document control software system that you can trust.

Document Errors
The financial strength of your organization depends on your use of reliable digital document control systems. Just like security breaches, document errors can cost your business a lot of money. They can also have a negative impact on your reputation.

Other common problems with document errors include:

  • Inaccurate information being provided
  • Outdated versions of documents
  • Files that are misplaced
  • Documents that are lost

Document errors can also result in compliance violations so it’s important to have an established system in place to mitigate the risks of these errors. When you put a workflow system in place for document control it can help prevent a number of expensive information errors.

Loss of Productivity
Document control that isn’t up to par can lead to an extensive loss of productivity. Both employees and corporate managers can be affected by an ineffective management system. It’s important to have a system in place that will streamline workflows by sending out documents to all of the employees and team members that need them.

Document workflows often involve team members working in collaboration across various departments. When there is a loss of productivity due to poor document control in one area, this can spread to several other areas of the company. Operations as a whole will be slowed down as a result.

Documents can be managed by anyone who has access to them from any location. If there is an employee who is away on business and needs to access the documents, he can do so as long as he has Internet access. Without the proper system in place, a business can expect to deal with confusion, bottlenecks, errors and redundancies. Every one of these has a direct impact on business productivity and this in turn has an impact on business revenue.

How to Choose the Right Enterprise Document Control Software

When it comes time to choose the document control software upgrade for your company there are 3 things to keep in mind including the following:

Compatibility – Make sure that the program you choose is compatible with the business processes and programs you are currently using. You can usually find out easily whether they will work together or not by looking at the documentation about the available software or phoning the company directly that provides the software.

Enhances productivity – Find a software that will tick all the boxes in terms of what you need for document and file management. Make sure that the software you choose can be customized to suit your needs. As well, put together a plan to keep productivity rolling during the transitional period when the new software is being introduced as a part of the company system.

Customer support – Look for a software company that provides end-to-end customer service. You’ll want to know that there is somebody at the other end that can help you set up the document control system, help with maintenance if required and be there to answer any questions or concerns in the long run. This is an important part of choosing the right management software for your business.

Best Document Control Software

If you’re looking for the best document control software available on the market today, please visit interaxgrp.com. We offer ISO compliance document control control software with an integrated, user-friendly platform on the cloud. Our system sends out notifications to the appropriate personnel via email and through a direct notification in the software. Document approval and reviews can also be set up easily by the user.

Our system is called Paradigm 3 and it can give your organization complete confidence in all of your document control requirements. This is today’s solution for any industry. Its ability to be completely customized leaves it second to none.

Call today for a free demo of the Paradigm 3 to see what it can do for your business. You can also ask one of our technical advisors any questions you may have regarding the system and how it could be customized for your company.