Document management is important to all businesses, but especially small businesses. Recent data showed that companies will spend $20 just to file a document. If that document is misfiled, it could cost the company $120. And a document that is lost can cost $220. With that in mind, a small business needs to protect themselves from all forms of additional costs. They can do that with paperless document management systems. However, some small businesses don’t believe they need these systems. They trust that their physical file storage systems are good enough, or they believe some of the myths concerning electronic file storage. To help you make a better, more informed, decision, here are the truths behind some of these common misconceptions. Three Myths About Electronic File Storage Small Businesses Don’t Need It We’ll address this misconception right off the bat. Nothing can be further from the truth than this statement. Small businesses have limited resources. They can’t afford to misplace any documents or to lose any physical copies. In addition, they can’t afford any of their more sensitive information leaking out. The vast majority of document theft comes from physical copies floating around. Having a good paperless document management system reduces these risks and costs. Document Management Is Expensive Small businesses don’t need the advanced or complex features that large enterprises typically have. They can rely on smaller programs to accomplish the same things. In addition, they don’t need too many licenses to have all their employees using the software. It would be more cost-effective to use a document management system than to go without. It can actually be a profitable investment when you consider the alternatives. Windows File Management Is All I Need Windows Explorer, Google Docs, and other programs can help you manage files, but they are basic tools. They are restricted in a hierarchy of folders. A good document management system will allow you to store custom data based on document types and your organization or business requirements. That means that you can significantly increase the ways that you organize your important information. A good paperless document management system is a necessary investment for any business or organization. It can save you a ton of money in the long run and help avoid the loss of important information. Don’t wait for something to go wrong, get an electronic file storage system now.