Document management system – Is it the most secure method for file sharing and storage?

There are numerous documents, files, and folders within a company. Handling all of them adequately is indeed a challenging task. The traditional methods of file sharing and storing are outdated and have several loopholes. Cybercriminals and hackers tend to look out for such loopholes and leverage them, resulting in data breaches.
Most of the companies are resorting to digital means for all of their file sharing and storing purposes. Technology has proven to offer countless benefits and advantages in our daily life, and a document management system is just one of them. The benefits of a document management system are limitless. The high levels of security, safety, and convenience makes the entire process of document management much more simplified and easy. Thus, if you are new to such technology, here's how you can secure your online file sharing and storage within a document management system. Let's get started.

Why should you choose a document management system?

Remote working is the current trend and is a preferable option for most employees. Thus, document access is a major drawback for traditional file storage methods like hard disk drives, etc. This limits the access of the users and thereby reduces the overall productivity too. Apart from that, the traditional file storing services' storage services are quite expensive in general. The added security layers along with expanded storage space is indeed a great expenditure for the companies. Thus, in such cases, a document management system is the most appropriate choice for companies.
A document management system mainly works on cloud storage platforms. All employees and managers use a central repository location to store all the documents. Many document management systems feature metadata and an electronic signature that confirms the authenticity, authorship, and other components while storing the files.
Using a document management system will also help cut the expenses of extra storage. You can always expand the cloud storage space, but its expenses are much lesser than traditional storage methods.
Access control is another very common hassle within the traditional methods of document storing. According to the CMS wire report, around 95% of the companies agree that digital workplaces are crucial.
Sharing documents via a secure document management system takes just a few minutes, depending on the file's size. Upon sharing, one can have easy access to secure document storage online. This is because the cloud storage services offer remote access from any geographic location, which is quite beneficial for employees who are into remote work. Employees tend to focus more on the core activities due to the easy availability of all the resources. Thus, this enhanced accessibility also improves the overall productivity of a company.

How to secure my online file sharing via a Document management system?

Data breaches and cyber-attacks are very common headlines nowadays. According to the Ponemon Institute's annual Cost of a Data Breach Report, the global average cost of any data breach is about $3.92 million. Thus, data breaches can cause a significant loss to your company. However, with a document management system, you need not worry about such threats since secure document storage online has several features that make your file transfer and storage completely safe and secure. How? Read thoroughly to know more about it.
Limited access According to the news, due to a data breach, about 885 million records were exposed at the First American Financial Corp. All of this happened due to weak authentication measures within the files. Therefore, regular file storage and transfer is indeed not the safest choice out there. With a document management system, you can easily limit and control the access of the documents. A separate authentication measure is taken to strengthen the document management system file sharing and storage security. Authentication of any devices used to capture or scan the documents shared, like printers, PC, scanners, MFP, etc., is a crucial measure that makes the document management system much safer. Apart from that, controlling access on a document level is another very important measure. This includes digital rights management, passwords, e signatures, etc. All of this helps keep the cyberattacks at bay and improve in a more secure file transfer.
Encryption Encryption is another layer of essential security that prevents hackers or cybercriminals. A common encryption method used in most document management systems is the AES(Advanced encryption standard). Thus, using a 190 bit or 256 bit AES encryption scheme will offer high protection levels to data and information. Likewise, the document management systems are HIPAA, SEC, and FINRA compliant, which ensures that the file transfer is completely safe and secure. With a document management system, you can be completely relieved because irrespective of the location of the files within the cloud network, the encryption is there to keep it safe and secure. According to a study, over 43% of organizations have a full-fledged encryption strategy within their enterprise.
Compliances This feature in secure document storage online gives the ability to persevere all the digital documents in a non-rewritable, non-erasable format, ensuring nobody can mess with the documents. This is available for both the external and internal auditors, which has impeccable advantages related to safety and security. This way, your company will not face the risk of any mishandling of the documents, which can result in a significant loss.
Conclusion Secure document storage online can transform your file sharing and storing processes tremendously in the best possible ways. Companies are gradually acknowledging the benefits of a document management system and are virtually implementing it. Thus, if you still have not implemented a document management system within your company yet, your files and folders might be at significant risk. Gear up and switch to this incredible technology before you incur any massive loss in your company.