Document Lifecycle Management Software: Automated Data Solutions for Regulatory Compliance
Document lifecycle management can be a full time job – especially for organizations that process a high volume of paperwork. Not only is it critical to keep important information, like contracts and invoices, easily accessible for your employees, but you also have to worry about also audit preparation and regulatory compliance. That’s where IntelliChief’s document management software can come into play.
End-to-End Document Lifecycle Management
IntelliChief’s document management software can streamline every step of a document’s lifecycle – from the minute it’s created to the minute it’s destroyed. You can create a digital archive of all your documents, route them to the appropriate users at the appropriate time, collect and re-purpose the data they contain, manage personnel access, and securely destroy them once they’ve reached the end of their lifecycles. Most importantly? You can have all of this done automatically, so you don’t have to worry about what you’re supposed to be doing and when.
Best Practices for Document Lifecycle Management
At IntelliChief, we built our document management software on a set of time-tested best practices. Our system helps you:
- Classify your documents based on the type of data they contain (in turn keeping each type of information separate)
- Connect related documents to keep them neatly organized
- Set custom user permissions to control who can access – or edit – your data
- Create comprehensive records any time a document is retrieved, viewed, or accessed
- Back up your data to protect against loss
- Store data in accordance with your industry (or department)’s specific retention policies
- Securely destroy old documents once they are no longer needed
When you implement IntelliChief, you’ll be able to create custom rules and policies. These can be changed at any time, but you can also “set it and forget it”, allowing our software to automate your information management lifecycle and save you from unnecessary work.
The Benefits of a Document Lifecycle Management System
Our hands-off approach to document lifecycle management can save your team a significant amount of time and effort. Instead of collecting and organizing paper documents, setting physical security measures in place, and worrying about the maintenance of your electronic files, your team can instead focus on more important tasks, like evaluating your data and making recommendations for growth.
Electronic document management also offers a financial benefit. When you need to retrieve documents for an audit, you can collect them instantly. Auditors – who often charge by the hour – aren’t left waiting for days while you find the sample transactions that they’ve requested. (This is especially true if you store your documents off-site.) Plus, automatic records management means that you won’t have to deal with costly non-compliance fines. (Non-compliance with the Sarbanes-Oxley Act, for instance, can carry of a fine of up to 1 million, even if the non-compliance was unintentional.)
One more thing to keep in mind: when you use an electronic document management system to manage your files, you won’t just be using that system to protect your company’s data. If you invest in a multi-functional system like IntelliChief, you’ll be able to automate your document-driven workflows, in turn reducing your operating costs. As a result, your return on investment is even higher.
Interested in learning more about our comprehensive solutions for document lifecycle management? Contact us today, and we’ll reach out with actionable strategies for more efficiently managing your company’s data.