Document Management System

DMS - electronic libarary of documentation sets for ease of retrieval and safe keeping.

The document set on the DMS for a typical building can include:

• design drawings
• fit out procedures
• leases
• safety documentation
• tenancy manuals
• contracts, etc

The hard copy documentation for a property is typically widely dispersed and in many cases in poor condition, outdated or non-existent.

By applying IT and internet technology to set up a centralised and managed, self service document library, many of the costs and problems associated with poor or inaccessible documentation can be avoided, such as:

• time spent looking for information
• time spent recreating information
• excessive due diligence costs
• cost of mistakes and rework due to outdated or incorrect information
• excessive project costs due to poor information
• loss of critical documentation through fire/water/disaster damage.

There is a broad network of people who regularly rely on the documentation set for a property including:

• Owners & Asset Managers
• Property Management Team
• Sales & Leasing Agents
• Prospective Tenants
• Design Consultants
• Engineering Consultants
• Contractors

Each of these groups expends time and effort on a regular basis looking for information relating to the property. In a past survey, 82% of property managers highlighted 'as built' information as the most important source of maintenance information, yet very few had systems for storing and managing it. Only 37.5% considered their operational management information up to date. Property managers were also found to spend an average of 3 hours per day searching for information. Estimates show that, in the life of a building, information may be recreated up to eight times.

These observations highlight the real costs associated with poor information management. An efficient system will clearly return improved profits to property owners by reduced design, operational, maintenance, management and capital expenditure costs as well as providing added value for existing and prospective tenants or potential purchasers. Risk management, due diligence and compliance costs will also be reduced by the adoption of the DMS.