Document Management — What Is It And Why Do You Need It?

In its simplest form, document imaging is the practice of converting your paper-based records to electronic files. Once these files are converted, they are indexed by specific 'keyword' information, stored in a structured system, and retrieved through your company's network or over the Internet. Document imaging alone can help an organization generate new efficiencies and dramatic cost savings, such as eliminating the costs associated with storing paper.

Document management takes document imaging several steps further. Document management is the process of managing the entire lifecycle of paper-based, or electronic (i.e. Word, Excel, e-mail) documents. Document management provides a simple and efficient way to input, retrieve, manage revisions (managing multiple versions of a document), collaborate, track and retain all of the unstructured data that doesn't already exist in your organization's enterprise resource planning (ERP), customer relationship management (CRM), supply chain management (SCM), and other computer systems.