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Because of the severity of potential legal and financial consequences, maintaining compliance with local and federal regulations for data protection and reporting is increasingly important.
Your clients trust you to keep their data secure, and your partners and investors trust you to dot every “i” and cross every “t” to ensure that they don’t accrue financial penalties from lack of compliance with any level of government oversight.
But how does a business maintain that kind of security and compliance without drowning their workforce in paperwork? By implementing a quality management system (QMS) to optimize document management standard operating procedures (SOPs), increase security and accountability, and create standardized workflows.
To recognize how optimized document management can help your business, you first need to understand what can happen without it. Without a QMS, your SOPs are significantly more vulnerable to human error.
If you forgo digital systems for certain documents and only use paper copies, you run the risk of losing a valuable part of your document from something as simple as a spilled coffee cup. A document could be shredded by accident before a copy was made.
The wrong person could view the document, putting you out of compliance with any number of regulatory organizations depending on the nature of your business. Not only that, but it will take longer for updates to make their way into your documents.
There are other dangers that can arise without a QMS. A team working on a shared document can throw confidentiality and compliance out the window if a team member simply hits “reply all” by accident, sending that document to everyone in the company.
Additionally, shared documents often lack version control—meaning they can be altered without the ability to revert to an earlier version if the changes made to the document are not in compliance.
These issues among others can be avoided by creating standard operating procedures around an established quality management system. A QMS reduces human error, strengthens confidentiality, increases the speed at which your documents are available, and ensures the accuracy of the information therein.
A regulatory document management system maintains compliance along multiple vectors.
By strengthening data protection, automating processes to ensure SOPs are followed, providing auditing functions, and controlling workflows, document management software keeps you squarely in-line with government compliance policies.
Every industry’s compliance needs are different. That means a QMS designed to streamline document management SOPs must be customizable and scalable and able to integrate with the established architecture of the client organization.
Creating uniform procedures for the initiation and completion of changes to a document as well as retiring and cataloging older versions reduces confusion and improves the efficacy of the document editing process. Auditing functionalities increase worker accountability and transparency with clients and regulatory agencies.
Automating your document management with M-Files and ContentWorX from TEAM IM provides the benefits you need to stay compliant while streamlining your processes and making your workflows more efficient and accountable.
Automation and greater uniformity in SOPs ensure your work remains in compliance and allows for greater internal quality control thanks to auditing functions.
Avoid costly human errors that can lead to mistrust from customers or even legal action from oversight agencies.
Keep your organization in good legal stead with a high-quality, customized document management system. Contact TEAM IM today.