Why eliminating paper document management has more benefits than you think
While digital transformation has been all the rage in the last year due to firms’ agile working needs, Fernanda Vicentin at Advanced says the knock-on benefits of a document management system may have been overlooked.
How confident are you that you really know what a document management system (DMS) can do? Yes, a DMS allows for filing of documents and emails into a virtual filing cabinet, but that’s ‘DMS 101’. The really powerful aspects are the things that become possible when paper is eliminated and digital takes over.
The value of collaboration
Firstly, a DMS enables collaboration. Files and folders can efficiently be shared internally between colleagues and peers, and externally with clients in a secure and compliant manner. Joint-working can take place in real time, or individuals can work on files at their own pace.
What’s the value of collaborating this way? It lets colleagues work seamlessly together, even when they’re apart. It tends to eliminate a lot of ‘back and forth’ emails and speeds up how quickly contracts and agreements are made and matters resolved.
The technology also improves service deliverability and has a positive impact on the client experience. Clients aren’t left wondering what’s happening to their matter and forced to call for updates. They instead get transparency around how their work is being handled and delivered, deepening trust in your firm.
Superior data security
A DMS also gives you and your clients assurance of an exceptionally high standard of data security. This happens for three reasons: because the data is held in one container, rather than scattered around, it’s easier to secure.
In addition, a DMS tends to reduce the number of emails flying back and forth, due to the collaboration factor which reduces the risk of data security breaches.
Most compellingly of all, DMS providers are required to institute the highest levels of data security. The system I work with, for instance, provides advanced data encryption, off-site back-ups and compliance certifications as standard. The ongoing investment made in data security is exponentially higher than that which any individual firm, no matter how large, could possibly afford.
Gaining matter-centricity
A DMS is a high-traffic system capable of hosting the firm’s ‘matter-centricity’ initiative. This means that, as well as hosting documents and related emails for any given matter, the space can also integrate ancillary applications and information like task-lists, timekeeping, project management, financials and case calendars. This elevates the speed and efficiency with which matters are handled and provides a 360-degree view of the matter and puts them at the fingertips of a firm’s legal professionals.
To learn more on this topic, register to watch Advanced’s on-demand webinar, here.
