What is Electronic Document Management?
Electronic Document Management or EDM, is the process of managing information, data and documents digitally. An EDM system allows its users to either create a document, from scratch, within the system, or capture a hard copy in electronic form. Then, this information can easily be stored, shared, edited, printed and processed.
A key element in managing knowledge is the ability to manage documents in various formats. It is challenging to efficiently organize electronic documentation throughout a project. Additionally, sending a wrong version of a developing product by email or forgetting an essential participant through the approval process is unfortunately quite frequent.
Managing data can also quickly become cumbersome. Data exists in a variety of formats, and includes information found in business documents such as contracts and invoices, customer data, financial data and intellectual property. A data management system should take the various formats into account to properly deal with the entire lifecycle.
An Electronic Document Management System helps companies face those challenges. This system should include basic functions such as document automation management, workflows, searches, and history recording, while providing secure access for all records in the system.
Successfully managing data is a competitive advantage. Ultimately, implementing a performing EDMS will positively impact a company’s revenue, costs control, risk mitigation and collaboration.
Lascom as an Electronic Document Management Software
The knowledge base of Lascom PLM includes every function of an Electronic Document Management system or EDM software:
Documents can be either created directly in the system or imported. Lascom PLM allows users to organize documents in files. It is important to note that only authorized users can access a document and file. This access also depends on the current status of a document.
Additional Benefits of Lascom PLM
Lascom PLM solution offers greater benefits than an Electronic Document Management system as its solution is more performing and includes additional features.
The solution accelerates and automates document generation through templates and connectors to other tools like the Microsoft Office Pack and CAD software. Users will still be able to work with these tools and decide which information to push to or get from Lascom PLM repository. No re-keying needed.
In other words, Lascom document automation software provides integration with, for instance, Microsoft Office, enabling users to work with familiar Word and Excel interfaces while their data is being centrally and securely managed by the document automation software. Therefore, the solution facilitates document generation, and the users gain time and avoid re-keying errors.
However, document management is the “tip of the iceberg”. If businesses only use an EDMS, it does not ensure that all projects’ information is correctly handled. Beyond documents, there is a vast amount of information, such as data, stakeholders, decisions, actions, information relations, etc. that needs to be taken into account.
Therefore, in addition to an Electronic Document Management System, Lascom PLM offers its clients a complete Projects and Product Management solution, including processes and workflows management, reporting, versioning control, business intelligence, tracking users’ actions, etc.