With smaller staffs and fewer resources, small and medium-sized businesses (SMBs) face greater constraints than large organizations, and as a result can find a document management solution even more beneficial than their larger counterparts. Improved efficiency and cost-effectiveness can help an SMB compete with the big boys.

Here are some of the ways a document management solution can benefit your SMB:

No more storage hassles – By converting paper documents into digital files, document management makes storing information more efficient and cost effective. Manual filing becomes a thing of the past, and there is no need for bulky storage cabinets and costly off-site storage.

Fast, easy retrieval – Storing your data digitally also makes it easier to locate the information you need. Indexing by a variety of criteria leads to instant, on-demand retrieval of documents or files.

Enhanced security – Privacy features allow you to control who has access to what information in your company, by individual or department. Access can also be restricted to limit who is allowed to view, edit, or delete files.

Increased compliance – Record retention policies can be established and enforced, assisting your business in meeting regulatory compliance requirements. Audit trails provide you with reports of who accessed what files, and when.

Improved access and collaboration – With your information stored digitally, you can access files and documents on demand from almost anywhere. And sharing files digitally also improves collaboration between employees and departments.

Electronic workflow and routing – A document management solution can manage your entire workflow and automate tasks by establishing rules. Documents are electronically moved throughout your organization to designated people in a particular order when the required ‘signoffs’ have been completed.

Secure backup – With all of your files and data securely backed up, your business is prepared to move forward in the event of a catastrophe such as fire, flood, natural disaster, or corporate espionage.