Electronic Document Management and Its Value for Business

Abstract

The purpose of the article is to outline the value of electronic document management for business, in particular, to formulate its advantages in the context of modern digital transformation and global challenges. The research methodology consists of scientific research principles, a systematic approach to identifying the problem, methods of theoretical systematization and generalization (to identify the results and conclusions of previous studies), critical analysis (to critically evaluate the existing positions of the authors), observation, analysis and synthesis (to identify the problems of using electronic document management in business, formulating its main advantages and disadvantages). The scientific novelty lies in the formulated advantages of electronic document management for business in the context of modern challenges of digital transformation and global challenges, including saving money, time and space resources, strengthening the competitiveness of business through the growth of its flexibility and adaptability. Conclusions. There is a rather primitive idea of the benefits of using electronic documentation in business processes. The multidimensionality of the business space, due to the digital transformation of the economy and the modern business environment, determines qualitatively new requirements for the circulation of information; metadata, which is formed in the interaction of business with other economic agents in the digital space, is gaining importance. Having a high-quality electronic document management system will improve both internal efficiency and overall business competitiveness. The use of modern digital data processing systems requires a review of the requirements for the electronic documents themselves, the reduction of classic document details, and their replacement with metadata. This will simplify the procedures for creating documents, reduce the burden of documentary work, linkage of documents with each other, and verification of the document’s legitimacy. The biggest advantage of electronic document management is the ability to index documents and process them using artificial intelligence technologies, which allows you to search for errors and differences from previous operations, predict operations, and use registers of open and official data.