Document Management and Entrepreneurship: From Big Data to Big Insight

By Matt Lichtenwalter December 28, 2016 Articles and Editorials

How A Document Management System Leads to “Big Insight”

The term “document” has become a ubiquitous, widely applicable term for anything containing information in digital or physical format. However, for the purposes of organizations, it is better described as anything an organization creates that contains information.

As the e-commerce revolution ensued and surged at the beginning of the 21st century, organizational information with each passing year could not be accurately defined as just a document or file.

Instead, the term “data” emerged to explain and categorize the varieties of organizations’ digital information, including the variety of places this information can be stored, duplicated, and lost—making it an equally dangerous medium for unstructured information.

Leveraging Document Management to Mitigate Skilled Labor Shortage

The most versatile benefits of a document management system are time and money savings. In the construction and manufacturing industries in particular—there is a large shortage of skilled laborers.

However, a skilled labor shortage does not have to mean the downfall of an organization, for a document management system solutions can resolve this problem—given that a document management system expedites internal processes, it frees up room for recruitment revenue and the salaries to attract top talent to an organization without breaking the bank, providing a competitive edge on the balance sheet when it is especially needed.

Moreover, new talent is not always needed: cutting costs internally through a document management system alone is enough to free up the profits sought by many executives and administrators—especially those who are beginning with startups.

A document management system (DMS) is any small to mid-sized organization’s formalized, strategic, and technological means for storing and managing images, web pages, graphics, social content, email content, video, and other rich media assets.

The goal of DMS is to effectively manage all information belonging to and created by organizations—relaying greater insights into the information contained in its content. Document management provides organizations with the means to manage the proliferation of their content, including the data and information it contains.

This signifies a major paradigm shift for the organizational prospectus: moving from big data to big content—focusing less on data-intensive aspects of the organization like data mining (which automation is better equipped to handle today) and more on effectively storing content to effectively harness its information.

This phenomenon is further reified by the DMS mobile app, which gives businesses, in addition to other mobile tools, another means of conducting businesses wherever there’s an internet connection.

Deriving Big Insight through the Document Management System

Essentially, organizations should not spend money on analytics and big data without the means to effectively do so—DMS being a potent means for accomplishing these objectives.

Additionally, sometimes organizations purchasing a document management system will arrive at sufficient analytics and insight-based conclusions regarding the data in their content without buying big data and other analytics services—further increasing the potential ROI for document management system adoption and use over the long haul.

Analytics, or in other words—deriving insight from data—has dominated organizations’ spending plans for the past two years. For instance, the International Data Corporation (IDC) projected that analytics would become a $125 billion market worldwide by 2015.

However, these budget allocations are futile without a document management system or other enterprise-grade document management solutions, for without DMS and similar technologies, including the behavioral means to use them effectively, acquiring crucial insight from data will prove a time-consuming, ineffectual process.

To learn more about what a top-rated document management system, visit efilecabinet.com.

Matt Lichtenwalter

Matt Lichtenwalter Author

Our electronic document management products, including our online and desktop versions, help businesses reduce their dependency on paper and enable them to manage all files and paperwork electronically. Our feature-rich document management software helps our clients maximize their office productivity. eFileCabinet is the DMS of choice for cost-effective, streamlined, paperless offices.

eFileCabinet offers two different DMS products as well as custom consulting and training. Our competitive pricing is designed to fit most budgets.

We help our customers set up document management systems that are fully compliant with all FINRA, HIPAA, SEC and NASD regulations. Our clients are typically companies that have frequent customer interaction, require high levels of documentation, and have offices in which compliance and regulation demand thorough record keeping. Our electronic filing system works well with accountants, financial planners, HR departments, insurance offices, health and medical offices, manufacturing companies (with heavy concentrations of record keeping), dental and medical offices, schools and colleges, real estate offices, community banks and credit unions, car dealerships, transportation companies, and small government city offices.

eFileCabinet is focused on helping businesses become more profitable. With over 12,000 customers, over 160,000 users, and more than 15 years in the business, our electronic document management system will help YOU succeed.

About CMS Critic

CMS Critic is one of the top resources on the web for unbiased, honest reviews. Since 2008, we've provided a resource for readers worldwide to find information, get advice and discover the latest news about software, hardware and services such as Content Management Systems, Website Builders, Linux Distributions and much more. To learn how to contribute or work with us, drop us a line.

Follow Us