Best Document Management Software

Document Management Software: A Definitive Guide

Document management mainly refers to managing, sorting, creating, reviewing, and securely storing all the documents associated with any organization. From document creation to its distribution and accessibility management – document management software covers every aspect or field where needed.

Apart from the above, file management software functions are also essential to seeking ISO 9001 international standards. It is one of the crucial quality standard trademarks that every business needs to establish its credibility.

It helps companies keep their information pool updated and reliable. The process involves the approval of information on documents before getting uploading for access-based use to maintain consistency.

How does Document Management System Help Business?

Digital document management software helps businesses capture documents from ground zero, arrange them strategically, prepare software documentation, and make them competent to distribute amongst the team and other associates. In addition, it helps you eliminate human errors and delays in the documentation process and ensure secure backup and storage.

The information, maintained through cloud-based document management software, includes:

1. Meta-data:

Meta-data or meta-description is a short note about the saved data, which lets you easily recognize your data while searching for it. Making the search easy, keyword-intense Meta also makes it possible to search non-text data, such as images.

2. Workflow:

This sophisticated feature is inbuilt in many best document management tools, while some home document management software needs the integration of a separate module for it. So while choosing a small business document management tool, you should keep in mind whether or not you need it. Workflow is a manually-decided path for the document flow (from one stage to another). This flow can be automated through static or dynamic rules.

3. Captured Documents:

These are the printed documents uploaded into the Personal Document Management System. Later, these files are converted to digital data through OCR using document scanning software.

4. Digital Documents:

It is the documented data present in the cloud-based document management software. Text files, rich data files, images, and other data types come under this category. You can also maintain the software documentation through file manager software. The information mentioned above is combined and put in the document management system for performing multiple operations such as data validation, modification, searching, indexing, storage, distribution, collaboration, fetching, version control, publishing, security implementation, and production of hard copies. You can also integrate different tools into document management software to achieve or do more.

Benefits of Document Management Software

Businesses across industries increasingly use the document management system to boost their efficiency and minimize the expenses of maintaining paper-based documents. Here are some factors that are driving more and more businesses to embrace the DMS system:

1. Content Security:

The best documentation software adheres to robust security policies to protect your confidential and susceptible business information. It also offers role-based access control features for restricting system access and enabling only authorized users to access your official documents.

2. Third-Party Integration:

An efficient document management software offers third-party integration tools to enable a seamless information flow between diverse platforms. This feature plays a significant role in helping you maintain data accuracy and data integrity. Additionally, third-party integration tools offered by an electronic document management system help you save a great deal of time by eliminating the need for repetitive data entry.

3. 24/7 Accessibility:

A cloud-based document management system enables you to access necessary documents or files anytime, anywhere, on any internet-enabled device. This feature is handy for sales and marketing professionals working remotely or continually on the move.

4. File-Sharing:

The best document management software for small businesses enables you to share files with geographically dispersed team members. The software lets you share password-protected files with your colleagues or stakeholders and share documents via links.

5. Smart Organization:

Managing documents can become quite daunting for businesses as your company will have countless files to organize. A document processing software solution comes with valuable tools to help you categorize, tag, and rate your documents to organize your files systematically and locate essential files in the blink of an eye.

These are a few reasons why forward-thinking businesses across the globe are embracing electronic filing system software.

Top Document Management Software Solutions Features

It offers a host of features that almost take care of anything related to document management. Brief information about the main features of open-source document management software is mentioned below:

1. Document Storage:

The central part of almost every digital document management system is that this feature helps an organization archive the documents in a single place. Besides, this feature also permits safe and secure document sharing as well. Stored documents can be edited or discarded as per your requirements. Hierarchy-based storage helps you maintain data properly.

2. Version Control:

The version control module is a great help in retaining multiple copies of a single document. A user can easily upkeep a record of every single version of a single document and edit, share and upload it as per the demand of the task. In the case of issues in newer versions, users will be able to use older versions. Moreover, it allows you to check the data from multiple versions and decide what to keep.

3. Security and Access Control:

Using the security and access control feature will gain complete control over document access. Set role-based access limitations and priorities and maintain an audit trail of all the accesses using this feature.  A step forward, some of the high-end personal best practices for document management is offering IP address-based access facility to the users.

4. Bulk Upload:

It offers a bulk upload module to help businesses upload a whole stack of documents in one go. With the help of this technology-bound feature, users can upload dozens of documents in a fraction of a second. In addition, importing and exporting documents or files makes things easy for your team’s manual operations.

5. Documents Indexing and Classification:

It improves any file retrieval process of your organization with the help of document indexing and classification feature. Users can index the files as per their respective categories for quick and hassle-free retrieval in the future. In addition, indexing increases document management software's search efficiency and operation speed.

7. Document Editor:

To improve the credibility of any document, it offers a document editor feature. Users can easily apply changes and make modifications in the PDF file format of their official documents with simple drag-and-drop steps. In addition, add text, date, comment, or any other changes over a single click. Editors collaborate too, where multiple users can access or work on duplicate files.

8. User Dashboard:

This feature keeps you updated about every progress happening in your organization. With components like a document box, workflow inbox, alerts and notifications, and an inbuilt calendar, this feature ensures that things are correctly taking place and at the right time frame. In addition, it allows you to access the oud Document Management System features quickly.

9. OCR (Optical Character Recognition):

The document management system allows the uploading of printed documents, which cannot be searched or edited directly. To convert this data into digital format, OCR technology is used. This technology turns the captured (in print or images) text into digital text so that all operations can be carried out on this data. Therefore, your document scanning software should be good.

10. Workflow Management:

Most organizations have a specific path decided for the document lifecycle process. For example, an article should first be transferred from writer to editor and then to publisher. Similarly, an invoice should be generated by the accounts department and approved by authorities. To make these processes automated, small businesses' best document management system lets you define workflows so that information can flow the way you want.

What should you Consider when Purchasing Document Management Software?

You know that buying a digital document management system is the need of the hour for your business, but you should not just pick random software in a hurry. Here are some of the critical factors that one should never overlook while buying document management tools:

1. Deployment Time and Cost:

One of the significant factors one should look for before making the financial decision to purchase an electronic Document Management System is the cost and time involved in the process. Therefore, picking the best document scanning software with quick implementation, easy usage, and an affordable price tag is always suggested. In addition, cloud-based document management software is a better choice for small start-ups than on-premise document management software for start-ups.

2. Level of Accessibility:

The best document management system provides easy accessibility when using a digital document database. Easy accessibility of digital documents is also essential from a collaboration point of view. If your open-source document management cannot connect with other devices and has a problem collaborating with them, we must say you should switch to something else.

3. Security System:

You can’t take any risk when it comes to the security of your documents. Therefore, the document management system for accountants must have a dependable document security system. Document management solutions that offer role-based access are the better choice over others.

4. Compatibility with Other Factors:

You are not going to operate alone. Before buying the best document management system for your organization, check its compatibility with other driving factors. It is better to pick a DMS Software that offers third-party integration as it will bring CRM, ERP, and workflow management to a single place and make the work hassle-free.

5. Ease of Use:

Everyone has a different level of expertise when it comes to technical knowledge. So before buying a DMS Software from the list of document management systems, you should assess your team and employees who will be using this tool. Then, take a trial of the product and ensure that the selected product is easy to use and does not lack any essential features.

6. Capturing Tool:

If you have to digitize your organization’s data bulk, ensure that you are not buying document scanning software with destructive OCR capabilities. Instead, check if it can convert the documents without an issue and only accept it.

7. Publishing:

Online and offline publishing of documents is essential, as we need to do it regularly. While you purchase a digital document system for business, make a list of channels where you want to publish the data. Confirm that you can quickly post through your best document management system.

These factors may vary from organization to organization. However, as every company has different expectations and requirements from their document management system software, they should ensure that the product they buy fulfills their needs.