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What Is Document Management?

Document management is the hardware, software, and processes used to organize and manage documents within an organization. This includes digital workflows document repositories and COLD/ERM systems, and information retrieval systems. It also includes document security such as tagging and metadata creation. Some document management software is all-inclusive. However, it's essential to focus on features that help team members perform their roles.

For example, a system that offers anywhere work capability may be beneficial for teams that need to access and work on documents while away from the office. Other features, such as a check-in and check-out system that only allows one person to work on a document at a time or a system that tracks changes to a document can help reduce the possibility of mistakes in versioning and information loss.

Many businesses create a significant amount of content. A lot of it is incorporated into documents. Without a well-defined and documented document management system, those documents can quickly disappear, or be unsecured or, worse yet, compromised by an untrusted party. This could lead to grave compliance risks and financial liability for highly restricted industries.

It is virtual data room benefits crucial to have a solid document management system that provides visibility and traceability across all digital documents starting with the initial capture, all the way to usage points and eventually disposal. This eliminates the possibility of stolen or lost information and will increase the efficiency.



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