Why is document versioning important in a DMS?

Change is the only constant, they say.

Nothing exemplifies this more than the series of drafts and versions (of, say, a document, database, file or record) that is inevitably created at work as a result of continuous feedback, revisions and amendments – especially where several members contribute to a single task. Document versioning refers to the way these different ‘dynamic’ avatars are managed and maintained in the run up towards the final piece that has to be approved by all stakeholders and parties involved.

There are several reasons why Document Versioning is vital to your organization’s DMS (Document Management System).

For one thing, it makes the potentially unwieldly activity of documentation breezy – automating and standardizing the method of recording changes across drafts and sub-drafts, facilitating review of action-history over time, and providing a systematic ‘life-cycle snapshot’ of the collaborative evolution of a document.

Document versioning also saves time, since access, creation, storage and retrieval of the many different versions becomes easy.

Another big upshot of proper document versioning are smoother work processes, as the former simplifies tracing of details and sequence of iterations, eases identification of the author or contributor (by filename, date and time), lends clarity of information and reduces errors

A robust document versioning approach can significantly optimize cost too – by eliminating duplication, for instance.
Finally, if you are doing document versioning right, you will be taking quicker and more informed decisions, thereby adding a significant competitive edge to your business.