What is Enterprise Document Management (EDM)?

Imagine a large-scale manufacturing firm where assembly lines and equipment are updated frequently. A simple documentation error can cause significant downtime. In an industry were downtime costs manufacturers over $50 billion annually, even the smallest error can be catastrophic.

With Enterprise Document Management (EDM) systems, organizations avoid these situations. The right choice of software means every piece of documentation is accurate and instantly accessible. This protects against costly delays while maintaining continuity.

Enterprise Document Management (EDM) is the systematic handling of documents including their organization, management, and storage within an organization. This process digitizes physical records, reducing paper use and the costs associated with traditional file storage.  

EDM systems automate document-related tasks, streamline document retrieval, and integrate version control to enhance data accuracy and access. They enforce security protocols and compliance measures by regulating document access and maintaining detailed logs of document activity. Through these functionalities, EDM ensures organizational documents are managed efficiently, securely, and in compliance with relevant regulations.

There are several reasons why EDM is significant for organizations. It increases productivity by simplifying the retrieval and management of documents. The system supports collaboration by enabling multiple users to access and work on documents simultaneously, regardless of their location.

Document management helps protect sensitive information through robust security protocols and help organizations comply with legal regulations, including industry-specific standards. In sectors such as manufacturing, oil & gas, and pharmaceuticals, EDM helps with maintaining accurate records, managing procedural documentation, and ensuring regulatory compliance. 

A Document Management System (DMS) is a component of the broader EDM framework. The EDM encompasses all aspects of document handling within an organization including creation, retrieval, management, and storage. Meanwhile, a DMS specifically refers to the tools and technologies used to store and manage digital documents. The focus is document control.

There are a few different types of DMS available for implementation. The right document control system depends on the specific needs of an organization.

1. On-Premise DMS

An on-premises DMS stores documents on servers physically located within the organization’s premises. This system provides businesses with full control over their document security. It is often preferred by organizations with stringent security policies or specific regulatory compliance needs.

2. Cloud-Based DMS

Cloud-based DMS solutions store documents on servers operated by a third-party service provider, accessible via the internet. This model offers flexibility, scalability, and lower upfront costs. It is a great option for businesses looking to reduce IT overhead without sacrificing the quality of document management.

3. Hybrid DMS

A hybrid DMS combines the secure infrastructure of on-premises systems with the flexibility and scalability of cloud services. This type of system is ideal for organizations that require stringent security for sensitive documents but want the accessibility and collaborative benefits of the cloud for other documents.

An effective DMS is equipped with several key features that will streamline document handling. These features improve efficiency and accessibility while improving security and compliance across an organization.

1. Centralized Document Repository

A centralized document repository stores all organizational documents in one secure, digital location. This centralization offers swift search and retrieval, eliminates duplicate file storage, and significantly improves efficiency by reducing manual tasks. With engineering document management software (EDMS), enterprises access a sole source of truth to simplify decision-making.

2. Document Version Control

Document version control tracks changes and updates to files. It maintains the integrity of documents by ensuring that all team members have access to the most recent version. This feature prevents confusion and errors by archiving past versions and providing a clear audit trail of document evolution.

3. Document Access Control

Document access control means that only authorized personnel can view or modify documents based on their roles and permissions. This selective access helps protect sensitive information and allows for the customization of accessibility based on project or team needs.  

4. Workflow Automation

Workflow automation eliminates the need for manual data entry and processing. This feature automates tasks such as document approval flows and notifications. Through that, it increases process speed and accuracy. It is highly effective at reducing bottlenecks in the overall document management process.  

5. Integration with Other Systems

A robust DMS will integrate with other enterprise systems such as ERP, CRM, and HR platforms. This flexibility allows for the automatic transfer of data across systems. It reduces manual entry errors while providing a unified view of information. This feature helps foster a culture of better decision-making overall.  

6. Document Security and Compliance

Document security and compliance features ensure that documents are stored and managed in line with industry standards and regulatory requirements. This includes tools for encryption, audit trials, and compliance checks. They safeguard data privacy and prevent legal issues related to document management.

When an organization implements an enterprise DMS, it streamlines document handling and other various elements of the organization’s operations. Below are four key benefits that significantly improve productivity and efficiency.

1. Increased Productivity & Collaboration

Get projects done faster. By simplifying finding and accessing documents through centralized storage, time spent on document retrieval is significantly reduced. It facilitates simultaneous document access by multiple users, which supports real-time collaboration. A faster document process and the ability to work together from separate locations means a higher level of productivity across teams 

2. Data Security and Compliance

Protect data and stay in check. Enterprise DMSs improve data security with advanced access controls that restrict sensitive documents to authorized users only. These systems comply with legal standards by maintaining thorough records of document access and modifications. The goal is to protect information while ensuring enterprises meet constantly evolving compliance requirements.

3. Cost Savings

Avoid resource waste. By digitizing documents, an enterprise DMS reduces the need for physical storage. This lowers overhead costs associated with paper files, printing, and space management. Automated workflows minimize manual tasks and cut labor costs. It provides staff with the opportunity to focus on higher-value activities while reducing costs.

4. Better Decision Making

Encourage higher-level thinking and innovation. With all documents stored in a central repository, a DMS provides all decision-makers with quick and easy access to the most current data. The timely access to accurate information helps foster a culture of informed decision-making. This creates more space for problem-solving and a focus on the future.

Accruent’s RedEye offers a cloud-based EDMS solution that manages documents throughout their lifecycle. The software ensures they are accessible, secure, and compliant with regulations. This comprehensive platform helps enterprises organize documents from creation to disposal. The easy nature of the product helps organizations improve overall operational efficiency while maintaining a high standard of compliance and security.

Some key benefits of Accruent's RedEye are the following:

• Centralized Document Repository: Stores all documents in one accessible, secure location.
• Lifecycle Management: Manages documents from start to finish – archiving or disposal as needed.
• Regulatory Compliance Tools: Includes features that help comply with industry regulations, reducing risk.
• Integration Capabilities: Integrates with industry-standard software, easily fitting into an enterprise’s current workflow.
• Advanced Security Features: Provides robust security measures to protect sensitive information. These include access controls and audit trails.

For industries such as manufacturing, engineering, and pharmaceuticals, the versatile nature of RedEye is a game-changer. The software adapts to the specific needs of these sectors by providing specialized tools and functionalities.

In manufacturing, an engineering document management system helps manage technical documents, blueprints, and schematics for production processes while helping them stay compliant. Meanwhile, for the oil & gas industry, it similarly helps with both regulatory compliance and safety standards. And in the pharmaceutical sector, RedEye helps avoid any issues with FDA (Food and Drug Administration) regulators – a common challenge in drug development and clinical trials.

Utilize technology to stay ahead of the competition. With Accruent’s RedEye, enterprises tap into the definitive solution for enterprise document management. It is about fostering a community within an organization focused on sharp, innovative processes that operate within compliance.  

RedEye is where document management meets innovation. Schedule your demo today!