How Beneficial is an Electronic Document Management System?

An electronic document management system, or EDMS, is a software system used to electronically store, receive, and manage important paper documents. Every day throughout the US, businesses send and receive countless documents and forms such as site inspections, OSHA forms, hazard assessments, and much more; it is a challenging task trying to keep track of it all. Since their introduction, electronic document management systems have morphed into powerful tools that are used to streamline countless business processes. Some systems help provide a paperless solution by digitizing safety forms that can be signed on a mobile device and then placed in an online folder; saving time, paper, and allowing for easy completion of important documents. Daily profit and revenue can be missed without a proficient document management system in place. Inadequate document management leads to a loss of productivity and companies can lose up to $4000 per employee per month. A great EDMS is more than just a place to store documents. Below are just 3 of the major benefits that explain why integrating an electronic document management system can change your business.

1. Reduce Costs

A typical workplace safety program endures massive costs from simple document management procedures, “the average four-drawer filing cabinet costs $20,000 to fill.” Overhead costs can be considerably increased between storage costs and the administrative costs associated with creating and maintaining a proper storage system. Expenses such as paper, space, filing cabinets, manual labour to file, etc. are increased with traditional hard copy document storage. A study by Gartner Inc. states that businesses can cut costs by 40% with the proper EDMS. By converting to an established online electronic document management system; storage space and supply costs can be reduced, and employees can be more efficient. All of this will mean the company can increase its profit margin.

Woman on electronic document management system or EDMS

2. Improve Workflows

There is up to a 21% decrease in productivity without a proper system in place to store, locate, and retrieve documents. Duplicating work and safety forms that have been lost or misplaced, transferring documents between departments, and revising the wrong documents all waste valuable company time. An electronic document management system allows for site safety audits, incident reports, HR paperwork, and secure digital documents to be quickly routed to the right people; which creates strong workflows and can help automate manual tasks. Increasing workflow efficiency will increase productivity and streamline business safety operations.

3. Enhance Collaboration

Internal and external collaboration can be enhanced by Electronic Document Management Systems. Web-based applications allow employees to work together, or with external partners, to create cohesive HR documents or safety forms. This minimizes the time spent on, or the need for, reviewing, or approving documents from upper management and other departments. There will be less time spent on administration and important safety paperwork can move through the system faster. A team with stronger collaborative capabilities will be more efficient and make better-informed business decisions.

The utilization of an electronic document management system in a company’s safety program can be very beneficial. Introducing a system that can create and store all your important safety documents will support collaboration, increase productivity and reduce costs significantly. Online assessments, forms, and folders help simplify administrative duties and allow for more productivity. Documents that contain sensitive or private information can be stored securely online which increases security and control over who can access the information. A great EDMS will provide a healthy return on investment and improve the efficiency of your business.