How to choose an electronic document management system for your business?

Modern companies are increasingly automating business processes with the help of electronic document management systems (EDMS).This article aims to guide you through the process of selecting the right EDMS for your business needs and highlights key considerations to keep in mind.

What are the benefits of switching to electronic document management for business?

Companies switch to electronic document management based on their own needs. However, the benefits are universal, irrespective of the industry or company size.

Resource savings. A company that exchanges paper documents spends a lot of money on printing, sending documents, storing them in an archive, etc. Switching to electronic-based document exchange can lead to substantial cost savings, with potential monthly savings of up to UAH 10,000, depending on your document volume.

Accelerated Document Signing. The traditional back-and-forth of signing bilateral documents is replaced with the swift exchange of electronic documents, signed with just a few clicks.

Accessibility. Electronic documents can be signed from anywhere globally with an internet connection, offering unprecedented accessibility.

Enhanced Confidentiality and Security. Cloud storage ensures the security of your document archive, protecting it from hacking and data loss.

What types of EDMS do companies use?

The widespread use of electronic documents in Ukraine has led to the emergence of different types of electronic document management systems on the market that can meet different business needs. Today, providers offer the following types of EDMS.

Universal services of electronic document workflow. Basic services that facilitate fundamental document actions but may lack customization for specific business requirements.

Customized EDMS.Tailored to align with your company’s unique business processes, though implementation may require additional time.

Combined EDMS. They combine elements of the two previous types. Blending elements of both universal and customized services, these systems offer versatility to cater to evolving business needs.

For example, Vchasno.EDO service includes:

• a contracting module for automating work with contracts;
• integration modules with various accounting systems (1C, BAS, Microsoft Dynamics Business Central, Perfectum CRM+ERP, etc.). They allow you to work with documents in CRM. Vchasno.EDO automatically uploads documents for signing and sending to counterparties;
• module for automating processes for appointing approvers, and signatories to a document, and automatically assigning additional data to a document.

Key Considerations When Choosing an EDMS

When choosing an EDMS for your company, pay attention to the following features.

Tasks solved by the service

Different types of electronic document workflow services are suitable for solving different business problems. If your company has few documents and no complex processes related to document flow, a simple service for signing and sending electronic documents will suit you. Implementing a complex system in this case can only worsen the company’s processes.
At the same time, for a large business with complex processes and approval routes, a simple service will not be suitable because it will not repeat all current document processes.

Cost of services

Providers offer electronic document management services at different prices – from free services to annual, monthly, or tariff packages that include a certain number of documents.

Providers usually offer demo versions of their services. For example, Vchasno.EDO allows you to sign 25 documents per year for free. You can also test all the available functionality for 2 weeks to build a document workflow: approving documents, creating groups of employees, creating additional parameters for documents, and scenarios for automatic document processing. Use the demo version to evaluate the convenience and capabilities of the EDMS.

Compatibility

Most modern EDMSs allow you to work in an Internet browser or mobile application. If you and your business partner use different EDMS, you sign a document in your service and send a link. Using this link, the partner goes to your system of electronic document workflow, reviews the document, and signs it. They can also download the document to their computer.

Opportunities for processing and signing documents

First of all, the EDMS must support the use of qualified electronic signatures from different providers. In modern services, documents can be signed both by an individual and an official QES.

Electronic document management systems also offer additional signature options to address specific business needs. For example, in the Vchasno.EDO service, an employee can sign documents in bulk. This helps to quickly process a package of documents without prior review.

Vchasno.EDO also allows you to customize scenarios for approving and signing documents, and add labels and comments. This significantly speeds up routine processes and saves time.

Security

A reliable EDMS should provide users with document encryption and backup. Providers also use other security tools: automatic virus scanning of documents, secure password storage, two-factor user verification, etc.

The internal level of document security is also important. Most providers give responsible employees administration rights. This allows the manager to differentiate access rights to documents: grant and revoke the right to view, approve, and sign them.

Technical support

Most providers provide technical support to users. This is especially important if the service of electronic document workflow is difficult to use.

The support manager helps the user to understand the service settings. If the company encounters problems with the EDMS, the manager helps to eliminate them.