Did you know…
…over 30 billion documents are used each year in the U.S.?
…85% of these documents are never once retrieved?
…half of all documents are duplicates?
…we spend 10x more time managing documents than we do creating a final version?
Every document evolves from the time it’s created to the time it’s disposed or archived. This succession of events is referred to as a document’s lifecycle. The process is specific to how a company’s document management system is configured which is ultimately what lays the foundation for how a document lifecycle carries out.
Since document management systems control the document lifecycle, it’s important that the tools and features of the system reflect the company’s culture and goals. This includes being having the right amount of security to control information dissemination, while at the same time being flexible and easy enough to adjust when necessary. So, whether a company wants to increase efficiency, improve accessibility, reduce overhead, maintain compliance or enhance collaborative efforts, an effectively implemented document management system and an understanding of the document lifecycle is vital.
Here’s a breakdown of the typical document lifecycle…
Create—The creation of a new document
Capture—Converting or digitizing the document into a digital format
Index—Cataloging and categorizing for system organization
Manage—Archiving and storing for retrieval
Access—Search and retrieval tasks involved in locating a file
Retrieve—Viewing files from index search results
Administer—Managing the accessibility of users
Repurpose—Updates and edits made to a file
Share/Collaborate—Discussion and re-versioning among a group
Retain—Low usage and inactive files held for retention period
Dispose—Securely removing and destroying files that pass the retention period
Preserve—Archiving and storing files for long-term accessibility
Document management systems are designed from the ground up to support companies who want to better manage their information. To learn more about establishing document lifecycle parameters within your document management system, contact ILM. We have the tools to develop a consistent method for managing your files.