A digital document storage system is a central repository for electronic documents. This could include text files, spreadsheets, presentations, images and more. It could reduce the amount of physical storage needed and improve the efficiency of internal processes.

Documents can be accessed anywhere with an Internet connection. This allows for modern organizational models like distributed and remote working. This helps businesses to avoid risk of losing data and offers an improved disaster recovery plan in the event of a natural or man-made disaster.

The three main benefits of digital document storage are streamlined review, extensive edit tracking, and fast file sharing. This allows teams to be more efficient and reach their goals faster.

It improves security by making it difficult for criminals to access or steal sensitive information. It saves resources by reducing the use of paper and toner. It can reduce office paper waste, and also allows staff to save time by clicking on files instead of digging through filing cabinets.

While it’s an expensive investment to convert paper documents to digital format, it will eventually pay for itself with reduced space and resources. The ease of collaboration and fast file retrieval also leads to happier and more productive staff which is an essential aspect of sustainability and growth for businesses.

It is crucial to choose an online system that is compatible with the tools your team uses to create and collaborate. Check that the DMS is set up to meet all compliance requirements that are applicable to your industry.