Document Management Strategies: 8 Best Practices for Success
For many businesses – especially those that are set in their ways – effective document management may seem like an overwhelming challenge that demands significant change. While this might be the case, the truth is that these changes will benefit the entire organization in the long run. Plus, there doesn’t need to be a drastic overhaul all at once. Simply introducing good document management practices gradually can make all the difference.
With this in mind, let’s discuss the eight best document management practices for better document organization, security, and accessibility.
The Top 8 Practices for Better Document Management
Implementing a document management system is no easy task. However, with these practices, businesses can ensure they do it right.
No. 1 – Establish a Goal
The No. 1 question to ask yourself before implementing a document management system is why you’re doing it. Do you want to improve efficiency, save money, comply with regulations, or all of the above? Defining your goal beforehand will help guide the entire process and ensure alignment with your business objectives.
Additionally, once you establish the goal, you can also determine the key performance indicators (KPIs) to measure the success of your document management system. This is the only way to ensure that your implementation stays on course and delivers the desired outcomes. If it doesn’t, don’t worry. You’ll know exactly what to change.
No. 2 – Automate Frequently Used Business Processes
As many as 70% of business leaders report that they spend up to three hours on repetitive tasks during an eight-hour workday. It’s a not-insignificant waste of time and resources.
To avoid being part of this unfortunate statistic, focus on automating all frequently used business processes related to document management straight away. This might include tasks like finding the necessary documents, new document generation, and data archiving –anything that would otherwise consume valuable time and effort.
No. 3 – Avoid Sticking to Paper-Based Processes at All Costs
Implementing an effective document management solution often involves going paperless altogether. However, this process doesn’t necessarily mean copying your current paper-based process and pasting it into the digital environment.
Sometimes, these processes simply don’t mesh well with digital workflows. Or, they haven’t truly been effective in the first place. So, use the transition to digital document management as an opportunity to reevaluate and optimize your workflows. Keep what can be successfully translated and improve and eliminate what can’t, and you’ll truly master the art of document management.
No. 4 – Stay Consistent
Effective document management is all about consistency. So, when creating folders and naming files, establish a clear and standardized system that everyone in the organization can follow. With consistent naming conventions and folder structures, you’ll reduce the time necessary to find and manage documents, eliminate any confusion, and ensure that all team members are on the same page at all times.
For instance, all your business invoices can be named in the following format:
“[Client Name]_[Invoice Number]_[Date]”
Next, these documents could be all stored in a folder named “Invoices,” which shares the same directory with folders like “Purchase Orders” and “Delivery Tickets.”
But be careful. This doesn’t mean sticking to the same standards forever. As your business grows and expands, you might need to accommodate new types of documents, organizational changes, or improved practices. So, stay consistent in reviewing and updating your naming conventions and folder structures to maintain efficiency and clarity in document management.
No. 5 – Use Metadata to Find Documents Quickly
It’s quite common for employees to waste a lot of time searching for a document on the corporate network. In fact, as many as 85% of them might end up being forced to recreate the document after failing to locate it.
To avoid this unnecessary hassle, introduce metadata into your document management system. This means tagging documents with descriptive keywords, attributes, or tags that make them easier to find through search queries. So, even if the employee can’t remember the exact name of the document, the metadata will lead them straight to it in a matter of seconds.
No. 6 – Stick to a Single Version-Control Policy
A single document can often be edited and updated by multiple team members, leading to confusion about which version is the most current. The solution? Implement a sound version-control policy and make sure everyone within the company sticks to it.
For instance, you can establish clear guidelines on how to name and label document versions, such as using the version’s number (e.g., v1.0, v2.0) or date.
No. 7 – Pay Attention to Document Access and Permissions
Not all employees require access to every document. What’s more, it’s often crucial for some documents to be accessed only by authorized personnel to maintain confidentiality and comply with regulatory requirements. To this end, there must be restricted document access based on job roles and responsibilities. This approach will also boost document security, which is essential for protecting sensitive information from notorious data breaches.
No. 8 – Familiarize All Stakeholders With the Document Management System
The only way for a document management system to be successful is for all stakeholders to comply with it and understand its importance. This includes employees, business partners, and clients. So, take the time to walk these key parties through the system basics and policies and keep them updated with any changes. The result? Improved collaboration, efficiency, and security—all of which are crucial for the growth of your business.
Why Choose Document Management Software
While many of the outlined document management practices can be done manually, fully transitioning to a document management software tool comes with numerous benefits. Essentially, you get all the best document practices wrapped in a single, handy solution that requires minimal effort on your part. With this approach, you can simplify and optimize virtually every document-handling process, which leaves you time to focus on your core business activities. It’s a win-win scenario.
Take the Leap
Businesses located in Bloomington, Minneapolis, and St. Paul ready to take the leap and go fully digital can entrust DTS with all their document management needs. Contact us today to request a consultation and usher in a new era of streamlined document management for your organization.
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