Difference Between Document and Records Management Systems?

Not all people are distinctly aware of the major differences that are there between a document management system and a records management system. Well, the questions fluctuate from is there actually any difference, which one is the best, and how can you use them in your business.

Generally, a lot of people consider document management systems as records management systems. Here, in this article, we will be discussing the major differences between a document and records management system. The difference lies between the core concepts of the two, and without any further ado, let’s get started.

Major Differences Between Document and Records Management Systems

Document Management System 

Starting with what a document management system actually is, it is a system that includes the process of capturing, storing, modifying, and sharing the digital counterparts of the physical files within an organization. A document management system is utilized by organizations to track and manage all of their documents, starting from their creation to their shredding. 

Basically, this system deals with the controlling and management of the complete lifecycle of any document. Talking about the objectives at which a document management system is aimed, they are:

• Reducing documents management costs and increasing productivity and efficiency
• Locating documents made fast and easy
• Going paperless and contributing to a greener environment
• Streamlined access to data and information
• Free up the office space

Records Management System

A record management system is more inclined toward facilitating the establishment of policies and standards that holds the responsibility of maintaining diverse types of records. Basically, a records management system specifically deals with the formal management of documents as they serve as a sort of evidence of a transaction or decision that imposes an obligation on the organization. 

Discussing further a records management system, it is responsible for the structured and methodical control of the creation, receipt, maintenance, usage, and disposition of records. In addition to this, it should be noted that a document can be a record, but not all the documents are considered to be in the category of records. 

Talking about the objectives at which a records management system is aimed, they are:

• Preserving the records over the entire course of their life cycle
• Guarding and support in litigation
• Audit trails 
• Improving transparency and credibility
• Legal and regulation compliance 
• Automatic retention periods setting 
   

Benefits of DMS and RMS

While using a document management system offered by the top document management company in India, such as Dox and Box, you can get your hands on numerous benefits. They are:

Tracking and having access to all the versions of a particular document
Fastest document retrieval with keyword search option available 
Alter the documents and lock them 
Easy sharing of the documents within the organization 
Set document access with security

Talking about the benefits of a records management system incorporated into businesses, they are:

Reduce costs linked with the requirement to store physical documents 
Manage the records' lifecycle from their creation stage to their disposition
Cost and time-efficient retrieval of records 
Automatic records shredding
Avoid fines and legal penalties by assuring complete compliance with laws
 

Why Dox and Box is the Best DMS and RMS Service Provider

Dox and Box is considered a firm to be providing the best and most efficient documents and records management systems to businesses. It is important to let the experts deal with the data management requirements that arise in your organization as there are a lot of benefits that we have already discussed in this article.

In addition to this, it should be laid an emphasis on the fact that Dox and Box is one of the top cloud data management companies in India. They excel at providing cloud storage and cloud-based data management solutions to businesses to eliminate their storage space issues. What adds more to the value of getting a DMS or RMS for your organization from Dox and Box is the fact that all the services offered by Dox and Box are based on the latest technological advancements and are highly cost-effective. 

So, if you are looking to incorporate the best document or record management systems into your business along with getting your hands on the services such as document scanning and digitization, Dox and Box is your one-stop destination.