What and Why of Document Management System

Businesses today have to deal with a vast number of documents. The ability to access the right documents in a timely fashion has become challenging. In most organizations, documents are spread out in various media and devices. For example:

1.       Some expense bills and receipts are in paper form.

2.       Invoices are created in proprietary software and sent via emails.

3.       Timesheets are stored in a database.

4.       Various types of contracts with vendors and suppliers are created in Word formats.

5.       There are financial statements, presentations, spreadsheets attached to emails.

In some cases, the information is not noted down anywhere and is in people's minds. In most small businesses, there is no uniform way to create, index, and store documents. As a result, valuable time is wasted searching for a document.

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