EDM: Definition
The EDM for Electronic Document Management whose definition refers to the process of computerized management of natively digital or digitized documents.
The EDM replaces the "manual", "paper" management of documents from software allowing to create, produce, classify, share and secure documents.
Electronic document management (EDM) appeared in the 1980s and is the tool around which a company's data architecture is built, given that it receives all documents.
Choosing an EDM solution allows the storage, control and circulation of all documents within the company.
The implementation of an EDM allows to dematerialize the business processes related to digital documents.
How does EDM software work?
Electronic document management is often characterised by several stages modelled on the life cycle of a document or document flow: creation or acquisition of the document, collaboration on the document, filing and archiving of the document up to viewing and sharing the document.
Electronic document management can be used in various activities: invoicing, accounting, legal, contract management, human resources, IT.
What are the benefits of EDM?
Generalist EDM software allows you to :
- Reduce the use and cost of paper.
Centralize document resources, the company gains in efficiency in the daily management of work since electronic documents are easily and quickly accessible. - Productivity increases for the organization since documents are accessible to everyone internally and at any time. It is thus the search for information which is facilitated!
- Better secure sharing of the organization's document pool.
- A search for documents and therefore information facilitated by an indexing system.
Secure certain confidential documents by specific access and reduce the risk of losing a document.
Contract-specific document management software allows you to:
- Free up time for legal teams
- Offer a fluid and collaborative contractual experience
- Simplify and increase the reliability of internal validation procedures
- Optimize the monitoring of contractual deadlines
- Manage contractual activity with reliable indicators
How to deploy an EDM software?
The implementation of an EDM requires a perfect definition of the specific needs of employees and businesses. To help you choose a document management software adapted to contracts, here are the most common needs we have identified in terms of contract management:
- Free up time for legal teams
- Providing a smooth and collaborative contractual experience
- Simplify and make reliable the internal validation procedures
- Optimise the monitoring of contractual deadlines
- Centralise and pool your contractual resources
- Connecting contract data to company tools
- Managing contractual activity through reliable indicators
What are the EDM tools?
There are many so-called "generalist" ged software that aim to meet the greatest number of needs. On the other hand, the current trend has been towards specialization of solutions, of EDM software by need/activity vertical.
In the vertical of contract dematerialization, for example, the best tools available to companies are the new SaaS solutions, more innovative and operational.
They will allow you, well beyond a simple system of storage and edition of documents, to improve your production in particular by the exploitation and the valorization of your contractual data.
For example:
- EDM Invoicing : Spendesk
- GED Contractual : Seraphin.legal
- EDM IT : GitHub
- GED Shareholding : Easy Quorum and General Registry
Glossary of EDM-related acronyms
Feeling lost in the flood of terms, acronyms and initialisms used to describe electronic document management?
Here is a glossary to help you understand the differences that sometimes do not exist.
DMS: Document Management System = equivalent term in English
EDM: Electronic Document Management = equivalent term in English
ECM: Enterprise Content Management
GEIDE: Electronic Management of Information and Documents of the Company = focus on the collaborative aspect and sharing
SAE Electronic Archiving System = functionality integrated with the EDM
EDI: Electronic Data Interchange = functionality integrated in this type of software
What are the main features of an EDM software?
Here are the functionalities of a software, of a generalist EDM solution:
- Creation and acquisition of the document
- Electronic document storage
- Documentary search engine (full text or full text)
- Access management and data sharing
- Traceability of the different versions of a document and its successive modifications
- Creation of workflows
- Interoperability, which allows the EDM to communicate with all the solutions and tools of a company's IT system
The following are the features of electronic contract document management software:
- Automation of no-code contracts
- Automated contract generation
- Collaborative contract negotiation
- Contract Approval Workflows
- Electronic Signature
- Monitoring of contracts (deadlines, statistical dashboard, etc.)
- Contract Storage
- Integrations
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