Benefits of EDM
Electronic Document Management or EDM allows businesses to manage their documents more effectively. It also ensures that all work processes fueled by electronic documents move more smoothly and faster. The main advantages of EDM are increased efficiency because of electronic document distribution, time savings and reduced storage costs. Other advantages of EDM are listed below.
1. Better access
The process of retrieving automated records is much simpler than working using paper copies. A single paper document may be photocopied about 20 times since numerous employees require working using the same data. However, many employees can simultaneously access the electronic documents. A manager can easily regulate who can revise and view computerized records. Furthermore, new security features enable manages to view the people who have access specific files.
2. Enhances security
Security features like passwords that are normally used in EDM safeguard against the access of vital information by outsiders. Furthermore, electronic records are also easily recoverable during disasters like office burglaries, floods or even fire. Backup copies are usually stored offsite like a preventive measure in case of an emergency.
3. Huge savings
Electronic records translate to huge savings for a business. For example, when police in Minnesota changed to an electronic document management system, they benefited from over $15,000 savings. EDM also saves lots of money in the cost of replacing lost documents.
4. Environmental benefits
Through using electronic documents, fewer trees for making paper documents will be needed. In addition, discarded paper usually decomposes into toxic methane gas that can harm people and cause global warming. When an organization converts their document management to the EDM system, they can protect the forests and prevent global warming.
The main demerit associated with electronic document management is that it requires that employees are trained in how to manage the new system, which may cause an interruption in production.