Design the Perfect Document Management System for Your Canadian BusinessPosted on August 23, 2017
For many small to medium sized Canadian businesses, having a solid document management solution in place is not just smart, it’s necessary. After all, the ability to stay on top of your company records is crucial if you want to survive and thrive in today’s information-driven business world. To keep your company organized, competitive, and safe, here are some reasons a well-designed document management system will do exactly that.
Invoices, receipts, contracts, reports, memos—all Canadian businesses create a host of irreplaceable documents. But if you can’t keep track of everything, you could be wasting time, money, and effort chasing down paper trails.
So, the first thing you’ll want to do is to organize your documents into categories—clients, vendors, full-time and part time employees, finances, marketing, etc.—and store them in one localized filing area.
With the help of a document management system, misplaced files, endless manual searches, and lost productivity are all things of the past. Your entire collection of records will be in a single convenient location, immediately accessible to you, day or night.
When it comes to document retention and compliance policies, you can never be too careful. Some documents might be vital to your business operations, while others might be important for historical purposes. Either way, make sure you fully understand which records you need to keep and for how long. Otherwise, shredding information too soon—or holding on to it too long—can land you in serious financial, civil, or criminal trouble.
Putting an effective document management system in motion will help ensure all your information is accounted for throughout required retention periods and destroyed when the time is right.
Good document management means being able to keep tabs on all your information. Without it, you’re going to have your hands full trying to figure out who handled which documents when. To avoid confusion (and unnecessary blame), make sure to limit who gets access to specific documents and have a check-out system, identifying what edits where made by who.
Having a stream-lined audit trail will allow you to easily follow the lifecycle of your documents, from the time it was created to where it’s currently stored.
Security breaches, human error, or natural disasters—your documents are at risk to a host of threats that can severely impact any Canadian business. Keeping your documents onsite could be a huge disaster just waiting to happen. Why take the chance with your precious information if you don’t have to?
With so much riding on the integrity of your records, safe document storage should always be a key part of any document management system. For the most secure documentation, make sure to use a professional offsite storage provider.
Don’t have an effective document management system in place? Well, maybe it’s time you do. With the right plan, and the help of an offsite storage provider, your Canadian business will function more efficiently, helping you boost productivity and save money.
Here at BCRMS, we understand what it takes to design the perfect document management system for your Canadian company. To help you keep up with all your business, legal, and regulatory obligations, contact us today!