Know Whether You Are Buying a Traditional or Modern DMS
A traditional DMS or Electronic Document Management System (EDMS) is a system on which an enterprise’s documents and files can be archived, retrieved back, and utilized by a small set of Users and I/O optimization or handling of voluminous documents is a key concern there. Whereas the modern DMS is designed for high performance I/O and takes a center stage in any enterprise’s digital strategy like a powerhouse providing fast document access to and from any external applications through API integration. A buyer must definitely check before purchasing a DMS product whether it is a traditional DMS built decades ago or is truly new technology-based Modern DMS.
Look for Scalability, Security & Future-Readiness
In layman terms, it means the product should have been architected for scalability, tested for high I/O efficiency, supports multiple storage types in a single installation, and has proven examples of full-fledged API for integration with external applications. In case you are replacing an old generation DMS with Modern DMS then you should also check for evidence whether the vendor has successfully migrated documents and data from other systems. The system should provide security options with the highest standards of encryption and should be able to maintain multiple versions of the documents.
Start Early If Your Business Is Going to Scale Up
If your current business is good without paper or electronic documents or if you receive fewer, manageable documents then you should resist the temptation of implementing a DMS. However, if the nature of your business is such that there is a large flow of incoming or internal documents, or if information security is a concern for you, then it is the right time for you to consider DMS deployment for your enterprise. Some businesses cannot survive without DMS as it impacts the enterprise at strategic as well as tactical levels. Start early so that you can avoid backfile conversion of the paper documents.
Reduce Processing Time & Cut Cost Further by Combining DMS with Workflow
Some businesses like Banking, Insurance, Pharmaceuticals, Government, etc. have requirements that go beyond simple management of documents and their requirements include tracking documents in workflows. In such cases, it is a good idea to marry BPMS with DMS to get full control over the workflows and provide real-time dashboards as well to the users. Servosys has a pre-integrated DMS & BPM product suite that helps Clients easily leverage the combined power of the two technologies.
Why Do You Need Document Management System
Installing DMS is the starting point of any enterprise’s digital journey because the instant availability of business documents and authorized access to the right people is key to business success. Likewise, to smoothly tackle such challenges that directly impact organizational growth and sustainability, you need a modern Document Management System. A modern DMS offers many advantages such as:
Capability to allow other external systems to access documents seamlessly.
Easy archival and fast retrieval of documents with high performance I/O.
Management of documents without worrying about its origin and format.
Ability to make your work processes paperless or less-paper.
Control over access, distribution and versioning of documents.
More often than not enterprises implement the DMS in their premises and buy a perpetual product license. However, OPEX-based options or Managed Services are also available should you wish to avail non-OPEX based DMS solution. From the perspective of features and functionalities the two options are not different as you are able to achieve, index, retrieve, documents seamlessly and integrate with other external systems as required for achieving the business goals. Ensure that you buy only new technology product.
Features & Components of DMS
Archival of digital documents is done through a hierarchical storage mechanism and document links are managed through an external relational database.
This is the key capability of the DMS where a unique document identifier can be used to retrieve a list of the potentially relevant documents and response time has to be very fast.
Indexing capability allows tracking of electronic documents through the metadata or even through word indexes extracted from the contents of the documents.
Through versioning feature documents are checked in or out and the users are allowed to retrieve previous versions when documents change over time and require updating.
Ease of Integration
DMS, with many powerful APIs, allows any developer to integrate the system without much training.
High Performance I/O
Since DMS is I/O intensive it is very important to check that the Read/Write operations are highly optimized and use the latest technology capabilities.
Object Storage Support
Provides the capability of document storage not only in conventional folder-based storage but also in object storage types like Amazon S3.
The DMS design is “mobile-first”, it works equally well for mobile and web desktop and provides a set of API to integrate client side mobile apps.
Ease of Configuration
Ease of system configuration and setting up its initial parameters for enterprise usage.
Areas Where Enterprises Exploit DMS The Most
Banks - LOS (Consumer Durables, Retail, SME, Corporate), A/C Opening, Etc.
Insurance - Customer On-Boarding, Claims Settlement, Compliance, Etc.
Shared Services & Outsourcing - Accounts Payable, Receivable, Etc.
Govt Orgs - E-Governance, E-Office, Less-Paper Digital Initiatives, Etc.
Manufacturing & FMCG - Sales Visit Tracking, Order Provisioning, Etc.
Life Science & Pharma - Clinical Trials, Medical Representative Visits, Etc.
Tech & Services Orgs. - Platforms For Business Transaction, Delivery Tracking, Etc.
Housing Finance/NBFCs - Mortgages, Builder Inventory & NOC, Etc.
Banking & Financial Services
We serve some of the world’s largest Banking and Non-Banking players in Retail, SME & Corporate and take pride in creating new benchmarks in automating their business process operations.
Insurance & Third-Party Administrators
As the Insurance & TPA organizations take digital transformation targets, our solutions automate their journeys for Claims Settlement, Policy Servicing, New Business Expansion, etc.
Shared Services & Outsourcing Orgs
The Captive Shared Services Centers and BPO/KPO require a flexible automation platform with robotics capabilities to fulfill their customer’s horizontal & vertical needs, faster.
Technology & Services Organizations
Our forte in product development helps us offer independent applications development projects to Clients who wish to invest in their own IPR creation on a pure services model.
Manufacturing & FMCG
Our product suite integrates the ‘back-office’ with ‘field operations’ through mobility, regardless of whether the business processes automation is for sales or customer services.
Life Sciences & Pharmaceuticals
The business processes such as Clinical Trials, Research Documentation, Geo-location Tracking, Exception Reporting, etc. are the key automation areas in this sector.
This sector is increasingly embracing Workflow & DMS-based government-to-citizen services, e-governance, e-office solutions with the objective of creating less-paper offices.