Live Talk

Contract AI Forecast: Risks are Not Expected

How to Organize Your Informational Space

Every company, no matter if it is а small startup or а multinational corporation, faces the same challenge — surviving under heaps of documents and other corporate content. The documents come from partners, regulators and other external organizations, and are created in the depths of the company. There are plenty of recipes for combatting the hydra of corporate information, but most of them just say, “Do an audit of existing documents, classify documents and compose retention policies”. Sounds good, but such recipes are too common and abstract to be somewhat useful.

The main challenge is making up your own principles of how to tidy up your documents.

Having your content organized will help you reach some meaningful aims:

  • You can easily find any document. This means lower operational costs and better productivity.
  • You can track а required document and tell who is working with it at this very moment.
  • You can always be sure that you are working with the latest version of a document.
  • You can substantially reduce the number of lost documents.
  • You can drastically reduce time you spend retrieving documents. Besides, you can be sure that your document selection is complete. That can be critical when you respond а regulator’s or а shareholder’s request.
  • You can considerably cut penalties caused by incompliance with regulators’ rules and requirements.
  • You can quickly approve any document.
  • You can allocate access rights to each particular group of documents and be confident that your information is confidential and safe from unauthorized eyes.

Organization of the content here means dividing corporate information into classes or groups. Classifying information is definitely а sort of art, and there are many different approaches to it.

Structured and unstructured content

One of the most popular contemporary ideas is to divide all enterprise content into structured and unstructured heaps. While structured information is mostly presented as corporate data that have a fixed format, the unstructured part is comprised of human readable (designed to be read by human beings) documents that do not have a fixed layout. There is also a concept of semi-structured content which refers to documents that have a pre-determined set of data but no fixed format for it (for example, the date of the document can travel all the way from top to bottom).

According to the paradigm, structured data is mostly processed by ERP systems, while unstructured documents are chiefly stored in the document management systems. However, an advanced document management software can process а good portion of structured data such as а list of concluded contracts and their obligations, а list of claims, an external organization databook. In fact, modern systems can help you deal with both structured and unstructured documents.

Document management system: help is here

Modern document management software can help you significantly on the way of organizing corporate content. Here users can create their personal environment and organize documents for their own convenience: to simplify and boost search, to build workspace for а project.

In such system, every user is enabled to create а personal folder structure. Folders can contain documents, jobs, tasks, inner folders and other system components.

Flow folders can also be an effective organizational tool. A document management system can automatically organize your tasks into such folders. For example, you can find approval tasks in the Approval flow folder. This way you can easily and quickly find relevant documents and tasks. 

In a document management system when you add а document to а particular folder, it does not change its position in the repository. Instead, а new link to it is created. That allows users to put multiple links to different folders, all of them referring to the same object. When you alter а document or its card, the result is reflected in every folder containing а link to this document. This way you don’t have to create a lot of versions but always work with one and the same document no matter in what number of folders its link is contained.

Document management software also has efficient tools for organizing documents’ storage and easy search. To quickly find documents, tasks, or assignments you can create a search folder that will automatically display items based on specified search criteria (name, author, date of creation, status, etc.).

Such systems enable users to ensure documents’ confidentiality by allocating various types of access rights.

Some document management software also visualizes your business processes and working progress through widgets that add a nice touch to the organization of content.

It is clear that modern document management systems can help users to tidy up their informational workspace both for structured and unstructured documents taking into account their differences.

Axirum system in particular presents all necessary tools to organize your working space and increase effectiveness of various business processes.

Check out Axirum Document Management solution and get the free demo to learn how exactly Axirum system can be of use to you.