First of all, document control is so much more than just filing documents. By implementing true document control this will support all the company's activities, and will add value at least in the following areas:
Retrieval of Documents
This is the benefit that everybody will see immediately. Document control will help you retrieve the correct information within a reasonable period of time. (In other words, no time wasted searching for a document, or information.)
Getting control of documents (including latest modifications, updates, etc.) means that you will be certain that the information at hand is the most up-to-date. With document control, all revisions of a document are stored, and the document at hand is the current one.
By defining the rules for accessing documents (who can access a document, who can read it, modify it, etc) and by implementing these rules within the document management software document control prevents uncontrolled changes on documents, as well as un-authorized access to documents. At the same time ensuring that any person who needs access to a document has access.
Who sent this document to whom, when, and with what technical or commercial content ? Why traceability? Because it ensures that you will never lose track of what happened on documents / on your project / in your department.
It is crucial and critical to be able to retrieve the last updated applicable documentation ... and to retrieve it quickly.
Documents and drawings created on a Project are often linked to key milestones for payment etc. Late receipt of information can have a negative impact on the schedule which can lead to the company taking a hit. Document Control can keep track of and expedite the deliverable flow to ensure the company delivers on time as well as receives on time from contractors, consultants and even Clients.
Without professional document control, you might not be able to provide the necessary information to auditors (internal or external) in due time.
Within the same company (or within the same project, the same department, etc), document control means working by the same standards, standardizing documentation, and complying with industry regulations and legal requirements.
Day-to-day professional document control will enable you to know, at any point in time, the status of projects deliverables.
In conclusion, implementing document control and investing in skilled professional document controllers is the way to protect your company, as well as ensuring accessibility, retrievably, control and security for your documents and your information.