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Did you know that it’s entirely possible to consolidate all your business’ information into a single system? That’s exactly what EDM – Electronic Document Management – does.
According to Trending Topics, approximately 328.77 million terabytes of information are generated every single day.
Imagine if we had to store all that data physically. It would be nearly impossible, wouldn’t it?
Therefore, the best, smartest and most secure alternative for storing data is by using an EDM solution.
How about learning a bit more about it? We’ve compiled 8 questions and answers to explain how revolutionary EDM can be for your company.
What is EDM?
EDM stands for Electronic Document Management, which combines certain systems and technologies to digitally retain, organize, store, and manage documents.
This management tool aims to optimize efficiency, accessibility, and the security of information usage within an enterprise environment.
By replacing physical documents, either partially or entirely, with electronic copies, EDM contributes greatly to your business’ convenience and sustainability.
What are the main EDM functionalities?
- Sorting and Indexing: classify and organize documents to make them easier to find, sort, and retrieve when needed;
- Version Control: maintain a detailed history of changes made to documents to keep them intact and traceable;
- Access Control: use security measures to control who can access documents, protecting sensitive data and important information;
- Cloud Storage: many EDM systems offer the option to securely store documents on cloud servers, providing remote access and reducing dependence on physical space;
- Electronic Signature: practical and legally valid online document signing.
What are the advantages of Electronic Document Management for organizations?
There are numerous advantages that EDM can offer your company, such as:
- paper usage reduction;
- physical space optimization;
- convenience in searching for and accessing data;
- collaborative work;
- greater operational efficiency;
- robust backup and recovery systems;
- security and access control;
- Making auditing and regulatory compliance easier;
- advanced data analysis;
- improved decision-making.
How can EDM facilitate team collaboration?
By making collaborative work easier. It allows people to access documents from anywhere, edit them simultaneously, and follow updates in real time.
This helps teams to better communicate and collaborate, even if they are geographically distant.
What are the most common challenges when implementing an electronic document management system?
Some common challenges include employee reluctance to accept changes, legacy systems issues, and the need of providing training to ensure effective adoption of the new technology.
How does electronic document management contribute to information security?
Electronic Document Management provides increased security through access control, encryption, and audit trails.
This minimizes the risk of loss, theft, or unauthorized access to documents, protecting sensitive company information.
What are the key trends in electronic document management for the coming years?
Trends include the adoption of Artificial Intelligence for automated document organization;
Integration with cloud platforms; and a growing focus on sustainability, with reduced paper usage and implementation of more ecological practices are on the raise as well.
Can I have EDM using the Fusion Platform?
Fusion Platform, Neomind’s streamlined process and documentation management tool, includes an EDM module.
Fusion’s EDM module offers a range of features for efficient and secure electronic documents organization.
It enables scanning, indexing, and automatic document sorting, enabling quick information retrieval.
Moreover, Fusion Platform promotes team collaboration by allowing secure document sharing and defining customized approval and review workflows.
Traceability is ensured through audit trails, assisting in comprehensive monitoring of document-related activities.
These features not only reinforce security but are also essential for regulatory compliance.
In other words, it provides organizations with precise control over who accesses, modifies, and views critical documents.
By integrating process management and EDM, Fusion Platform offers a comprehensive and reliable solution for the complex document management demands of modern enterprises.
Try Fusion Platform for free for 15 days and experience firsthand the advantages of an integrated management platform with an EDM module!
