Benefits of Document Management Software: Examples Of Top Solutions Explained

Technology has allowed businesses to transition from file
cabinets to organizing files in digital format. Doing the manual
process is time-consuming and arduous. This exposes the risk of
human error which may lead to lost and damaged files. Hence,
businesses automate this process using a document management
system.

In this article, we’ll have document
management software providers^[1] explained to help
you understand the system’s purpose and consider if your business
needs it. We also compiled some of the leading products in the
niche to jumpstart your search if you decide to engage
one.

Document Management Software Explained

First, let’s talk about what is document management. In
essence, it is the process of managing documents on how they’re
created, shared, organized, and stored for future retrieval. This
is critical for many businesses because this is where document
security and recovery relies on. These are the two parts of setting
up a document management system:

1. Creation. The first crucial step is creating a
   plan. Establish rules on how you create various types of
   documents—whether they’re invoices, emails, balance sheets, sales
   brochures, and reports, among others—for consistency and easier
   organization. Decide on how you’ll store documents (which refers to
   its storage and how they’re organized) so you can determine how to
   simplify its retrieval. And finally, identify methods on how to
   keep your files secure.
2. Implementation. The next step is ensuring proper
   implementation is followed by everyone in the organization. Keeping
   everyone on the same track with your rules is crucial, or else,
   setting up a document management system is ineffective. Consistency
   is the key to success in managing files. Hence, check your team’s
   performance and DM plan execution regularly.

While it may sound simple, the steps mentioned are
actually challenging to accomplish. A solution that automates,
streamlines, and optimizes these manual processes involves
transferring into the digital landscape and engaging a software
program for handling all your files.

DMS (document management system) is the utilization of a
software or computer system for archiving, managing and tracking
documents. This modern approach to file storage handles digital
files and paper-based documents that are image-captured or scanned.
It serves as a precursor to content management by providing the
most basic and fundamental functionality for the
process.

Here are some of its key features and
components:

• File version control
• Forms management
• Audit trail
• Storage
• Security and access control
• MS Office and Outlook integration
• PDF converter
• PDF file editor
• Encryption
• Advanced search
• Role-based user permission
• Content annotations

Benefits of Document Management Software

Only 18% of
businesses utilize a paperless system^[2]
while the rest still use the traditional and manual process of a
physical filing system. Organizations that haven’t adapted to the
digital landscape yet are potentially losing to their competitors.
Furthermore, they’re also likely to face an extreme disadvantage in
the future global company as it is substantial for businesses to
adapt and be flexible to new, dynamic environments.

Identifying the purpose of document management software is
indispensable to know whether it’s right for your business and if
it will add value to your operations. It will also help you target
the features and tools you specifically need in order to maximize
them. We’ll list some of the advantages you can get from a DM
system which may solve your organization’s problems and
bottlenecks.

Optimizing Handling of Documents

Paper, as it multiplies, becomes burdensome when it turns an
office into a storage space. It hits a company’s efficiency and
security in the long run. An essential and primary purpose of
document management software is to manage your organization’s
digital documents efficiently and quickly with minimum operational
costs. This helps your team members to be updated on each file
they’re liable to and stay on track with their projects, including
those in diverse locations.

Sample features:

1. Drag-and-drop function. Users can easily
   upload files to the archive using the simple gesture of dragging
   and dropping them from your desktop.
2. Metadata. Customize document metadata and
   properties with descriptive information for categorizing,
   archiving, locating and retrieving files.
3. Templates. This speeds up the process of
   creating documents with uniformity while still being able to refine
   and customize them accordingly.
4. OCR (Optical Character Recognition). Allows
   full-text documents, such as scanned ones, to be searched and
   indexed.
5. Forms management. Helps users fill in
   information and create well-designed documents through a
   properly-introduced metadata.

Improving Accessibility

Accessing physical files can be challenging because they have to
be with you all the time. They run the risk of getting left behind
and don’t allow working remotely. On the other hand, Most DM
software programs let you access your files even when you’re on the
go. You can use it on any computer or device, such as smartphones
and tablets, so you can immediately make modifications at a
moment’s notice.

Sample features:

1. Mobile web interface. This allows users to
   access the system using their phone’s browser without
   installation.
2. iOS and Android compatibility. Users may also
   install apps on their phone to access files in mobility.
3. Import and export. Quick file import, export,
   and synchronization with the help of the software’s
   integrations.

Streamlining File Search and Retrieval

If you ever tried shuffling through a disorganized stack of
papers and folders, you’ll know how much time is wasted doing the
cumbersome task. The digital file system makes organizing,
searching, and tweaking files easier to ease the painful process.
Most DM software programs have optical character recognition
technology to enhance file searchability based on its
characteristics like the name and keyword. It may also be filed
under several references such as name, date, and document number,
among others. This expedites the process of retrieving the document
through a full-text search box and index categories.

Sample features:

1. Storage. Having a single repository for all
   documents allows high scalability and files can be encrypted.
2. Document searching. Eliminates the need for
   data entry as the document’s full content is automatically indexed
   by the system for a quick retrieval.

Cutting Down Costs

You may think that a physical filing system doesn’t cost you
money. However, companies spend $20 to
find a single misfiled document^[3]
according to a research. It costs $120 to recreate a lost or
damaged document. This can add up in the long run as companies lose
an average of 2 to 5 files a day. Purchasing a document management
solution is considered an investment because of the valuable
returns it gives your company. Furthermore, it cuts down costs from
ink, paper, postage and other supplies when printing documents. It
also frees up the space occupied for storing physical supplies and
documents.

Editing and Making Corrections

There are times when modifications must be done to a document.
Using a physical copy requires printing the file again to add the
changes. As required, it has to be reviewed, signed, faxed, or sent
again. When there are adjustments to be made, you can easily
transform your digital documents in the DM software because they
are responsive. It also has a robust backup solution to ensure your
files are saved and protected in case your computer gets broken or
you face disasters, like floods and fires.

Sample features:

1. Online editing. Users can edit files online
   simultaneously.
2. OCR. This lets you make changes to scanned
   documents.
3. Audit trail. When adjustments are made to a
   document, you get notified and view which actions are made by each
   user.

Tightening Security

Enterprises know the importance of keeping documents safe and
secured, especially when they contain confidential and sensitive
information. Failing to protect these can hurt your company’s
integrity. DMS ensures all your files are protected by using a
role-based access control. This is an essential feature so you can
regulate each user on which documents they can access and limit the
actions they’re allowed to do. This safeguards your files from
getting into the wrong hands.

Sample features:

1. Two-factor authentication. An advanced
   security level to prevent hackers from accessing your documents.
   Knowing the victim’s password is insufficient to pass the
   authentication verification.
2. Files encryption. Protecting files from
   residing in your system using adjoining keys and algorithms.

Boosting Collaboration

Printing copies of the document and then comparing notes with
your teammates consume time and waste physical resources. On the
other hand, using the software lets you work together on a single
file and receive real-time updates when changes are made to ensure
everyone is on the same page when editing. By ameliorating
information sharing, the documents seized from various sources can
be accessed in multiple locations.

Sample features:

1. Version control. An essential feature to
   monitor who obtained the file and what actions they performed.
2. Document annotations. Comments or
   post-its placed on the document’s content where users can discuss
   and catch the attention of other users to a specific part.
3. Check-in and check-out. The changes made
   to a document are synchronized so no adjustments get lost or
   overwritten. During a check-out status, the document may only be
   viewed and read.
4. Workflow. It enforces corporate policies
   and gives you control of completion time. This improves efficiency
   and correct routing of the documents.

Being Environment-Conscious

Creating physical copies of documents uses a lot of resources,
especially since it’s needed on a daily basis for many companies.
Paper alone accounts for 25% of landfill wastes. Add to that the
energy used by printers and the disposal of ink cartridges.
Transferring to a digital storage lessens your company’s
contribution to wastes and eliminates strenuous disposal work.

These are only some of the benefits that may address your
company’s DM requirements. Meanwhile, DM software programs aren’t
created equal and each of them has capabilities and features that
set them apart from each other. Hence, checking out some examples
of document management software is vital to see which one fits your
digital filing needs.

5 Examples of Document Management
Software

Here are the 5 leading examples of document management software
in the market today:

1. PDFfiller^[4]. This
   user-friendly, cloud-based PDF editor fits various types of users.
   No system training is required as you can immediately start using
   the system after choosing a plan and signing in. It has an
   intuitive drag-and-drop capability for quick and easy file imports.
   PDFfilller’s subscription packages start at $6 a month for personal
   use.
2. LogicalDOC^[5]. SMEs and large
   enterprises looking for a straightforward and simple DMS should
   check out LogicalDOC. Its enterprise-grade platform allows teams to
   create, co-author, and regulate documents systematically. It has an
   on-premise and cloud deployment option to cater your preferences.
   Pricing information is only available through a quote request.
3. eFileCabinet^[6]. Geared towards
   small and developing companies, this software has one of the most
   secured DMS of today. It has numerous integrations for quick data
   migration, a variety of delivery modules, and swift file uploads.
   The cost of eFileCabinet depends on your chosen
   deployment—on-premise or in-cloud—and varies based on the number of
   users, features, and add-ons to ensure you’re getting a solution
   that accommodates your needs.
4. Templafy^[7]. A dynamic DM
   system, Templafy helps the tech team, general and marketing
   managers of various departments including legal, administration,
   sales and marketing, human resource, and IT when it comes to
   handling documents. It has templates, cloud technology, real-time
   updates, and automation to elevate file compliance with your
   company’s brand and legal guidelines. Its pricing is on a per-user,
   monthly basis with a one-time setup fee.
5. Proofhub^[8]. It is a robust
   and versatile cloud-hosted project management solution equipped
   with scalable features to administer your company’s deadlines and
   deliverables. It matches the business requirements of SMEs and
   large enterprises. Proofhub has two pricing options depending on
   your company’s size. Plans start at $45 per month billed
   annually.

Category: B2B News^[9]
Tags: Document Management Software^[10]

Technology has allowed businesses to transition from file
cabinets to organizing files in digital format. Doing the manual
process is time-consuming and arduous. This exposes the risk of
human error which may lead to lost and damaged files. Hence,
businesses automate this process using a document management
system.

In this article, we’ll have document
management software providers^[1] explained to help
you understand the system’s purpose and consider if your business
needs it. We also compiled some of the leading products in the
niche to jumpstart your search if you decide to engage
one.

Document Management Software Explained

First, let’s talk about what is document management. In
essence, it is the process of managing documents on how they’re
created, shared, organized, and stored for future retrieval. This
is critical for many businesses because this is where document
security and recovery relies on. These are the two parts of setting
up a document management system:

1. Creation. The first crucial step is creating a
   plan. Establish rules on how you create various types of
   documents—whether they’re invoices, emails, balance sheets, sales
   brochures, and reports, among others—for consistency and easier
   organization. Decide on how you’ll store documents (which refers to
   its storage and how they’re organized) so you can determine how to
   simplify its retrieval. And finally, identify methods on how to
   keep your files secure.
2. Implementation. The next step is ensuring proper
   implementation is followed by everyone in the organization. Keeping
   everyone on the same track with your rules is crucial, or else,
   setting up a document management system is ineffective. Consistency
   is the key to success in managing files. Hence, check your team’s
   performance and DM plan execution regularly.

While it may sound simple, the steps mentioned are
actually challenging to accomplish. A solution that automates,
streamlines, and optimizes these manual processes involves
transferring into the digital landscape and engaging a software
program for handling all your files.

DMS (document management system) is the utilization of a
software or computer system for archiving, managing and tracking
documents. This modern approach to file storage handles digital
files and paper-based documents that are image-captured or scanned.
It serves as a precursor to content management by providing the
most basic and fundamental functionality for the
process.

Here are some of its key features and
components:

• File version control
• Forms management
• Audit trail
• Storage
• Security and access control
• MS Office and Outlook integration
• PDF converter
• PDF file editor
• Encryption
• Advanced search
• Role-based user permission
• Content annotations

Benefits of Document Management Software

Only 18% of
businesses utilize a paperless system^[2]
while the rest still use the traditional and manual process of a
physical filing system. Organizations that haven’t adapted to the
digital landscape yet are potentially losing to their competitors.
Furthermore, they’re also likely to face an extreme disadvantage in
the future global company as it is substantial for businesses to
adapt and be flexible to new, dynamic environments.

Identifying the purpose of document management software is
indispensable to know whether it’s right for your business and if
it will add value to your operations. It will also help you target
the features and tools you specifically need in order to maximize
them. We’ll list some of the advantages you can get from a DM
system which may solve your organization’s problems and
bottlenecks.

Optimizing Handling of Documents

Paper, as it multiplies, becomes burdensome when it turns an
office into a storage space. It hits a company’s efficiency and
security in the long run. An essential and primary purpose of
document management software is to manage your organization’s
digital documents efficiently and quickly with minimum operational
costs. This helps your team members to be updated on each file
they’re liable to and stay on track with their projects, including
those in diverse locations.

Sample features:

1. Drag-and-drop function. Users can easily
   upload files to the archive using the simple gesture of dragging
   and dropping them from your desktop.
2. Metadata. Customize document metadata and
   properties with descriptive information for categorizing,
   archiving, locating and retrieving files.
3. Templates. This speeds up the process of
   creating documents with uniformity while still being able to refine
   and customize them accordingly.
4. OCR (Optical Character Recognition). Allows
   full-text documents, such as scanned ones, to be searched and
   indexed.
5. Forms management. Helps users fill in
   information and create well-designed documents through a
   properly-introduced metadata.

Improving Accessibility

Accessing physical files can be challenging because they have to
be with you all the time. They run the risk of getting left behind
and don’t allow working remotely. On the other hand, Most DM
software programs let you access your files even when you’re on the
go. You can use it on any computer or device, such as smartphones
and tablets, so you can immediately make modifications at a
moment’s notice.

Sample features:

1. Mobile web interface. This allows users to
   access the system using their phone’s browser without
   installation.
2. iOS and Android compatibility. Users may also
   install apps on their phone to access files in mobility.
3. Import and export. Quick file import, export,
   and synchronization with the help of the software’s
   integrations.

Streamlining File Search and Retrieval

If you ever tried shuffling through a disorganized stack of
papers and folders, you’ll know how much time is wasted doing the
cumbersome task. The digital file system makes organizing,
searching, and tweaking files easier to ease the painful process.
Most DM software programs have optical character recognition
technology to enhance file searchability based on its
characteristics like the name and keyword. It may also be filed
under several references such as name, date, and document number,
among others. This expedites the process of retrieving the document
through a full-text search box and index categories.

Sample features:

1. Storage. Having a single repository for all
   documents allows high scalability and files can be encrypted.
2. Document searching. Eliminates the need for
   data entry as the document’s full content is automatically indexed
   by the system for a quick retrieval.

Cutting Down Costs

You may think that a physical filing system doesn’t cost you
money. However, companies spend $20 to
find a single misfiled document^[3]
according to a research. It costs $120 to recreate a lost or
damaged document. This can add up in the long run as companies lose
an average of 2 to 5 files a day. Purchasing a document management
solution is considered an investment because of the valuable
returns it gives your company. Furthermore, it cuts down costs from
ink, paper, postage and other supplies when printing documents. It
also frees up the space occupied for storing physical supplies and
documents.

Editing and Making Corrections

There are times when modifications must be done to a document.
Using a physical copy requires printing the file again to add the
changes. As required, it has to be reviewed, signed, faxed, or sent
again. When there are adjustments to be made, you can easily
transform your digital documents in the DM software because they
are responsive. It also has a robust backup solution to ensure your
files are saved and protected in case your computer gets broken or
you face disasters, like floods and fires.

Sample features:

1. Online editing. Users can edit files online
   simultaneously.
2. OCR. This lets you make changes to scanned
   documents.
3. Audit trail. When adjustments are made to a
   document, you get notified and view which actions are made by each
   user.

Tightening Security

Enterprises know the importance of keeping documents safe and
secured, especially when they contain confidential and sensitive
information. Failing to protect these can hurt your company’s
integrity. DMS ensures all your files are protected by using a
role-based access control. This is an essential feature so you can
regulate each user on which documents they can access and limit the
actions they’re allowed to do. This safeguards your files from
getting into the wrong hands.

Sample features:

1. Two-factor authentication. An advanced
   security level to prevent hackers from accessing your documents.
   Knowing the victim’s password is insufficient to pass the
   authentication verification.
2. Files encryption. Protecting files from
   residing in your system using adjoining keys and algorithms.

Boosting Collaboration

Printing copies of the document and then comparing notes with
your teammates consume time and waste physical resources. On the
other hand, using the software lets you work together on a single
file and receive real-time updates when changes are made to ensure
everyone is on the same page when editing. By ameliorating
information sharing, the documents seized from various sources can
be accessed in multiple locations.

Sample features:

1. Version control. An essential feature to
   monitor who obtained the file and what actions they performed.
2. Document annotations. Comments or
   post-its placed on the document’s content where users can discuss
   and catch the attention of other users to a specific part.
3. Check-in and check-out. The changes made
   to a document are synchronized so no adjustments get lost or
   overwritten. During a check-out status, the document may only be
   viewed and read.
4. Workflow. It enforces corporate policies
   and gives you control of completion time. This improves efficiency
   and correct routing of the documents.

Being Environment-Conscious

Creating physical copies of documents uses a lot of resources,
especially since it’s needed on a daily basis for many companies.
Paper alone accounts for 25% of landfill wastes. Add to that the
energy used by printers and the disposal of ink cartridges.
Transferring to a digital storage lessens your company’s
contribution to wastes and eliminates strenuous disposal work.

These are only some of the benefits that may address your
company’s DM requirements. Meanwhile, DM software programs aren’t
created equal and each of them has capabilities and features that
set them apart from each other. Hence, checking out some examples
of document management software is vital to see which one fits your
digital filing needs.

5 Examples of Document Management
Software

Here are the 5 leading examples of document management software
in the market today:

1. PDFfiller^[4]. This
   user-friendly, cloud-based PDF editor fits various types of users.
   No system training is required as you can immediately start using
   the system after choosing a plan and signing in. It has an
   intuitive drag-and-drop capability for quick and easy file imports.
   PDFfilller’s subscription packages start at $6 a month for personal
   use.
2. LogicalDOC^[5]. SMEs and large
   enterprises looking for a straightforward and simple DMS should
   check out LogicalDOC. Its enterprise-grade platform allows teams to
   create, co-author, and regulate documents systematically. It has an
   on-premise and cloud deployment option to cater your preferences.
   Pricing information is only available through a quote request.
3. eFileCabinet^[6]. Geared towards
   small and developing companies, this software has one of the most
   secured DMS of today. It has numerous integrations for quick data
   migration, a variety of delivery modules, and swift file uploads.
   The cost of eFileCabinet depends on your chosen
   deployment—on-premise or in-cloud—and varies based on the number of
   users, features, and add-ons to ensure you’re getting a solution
   that accommodates your needs.
4. Templafy^[7]. A dynamic DM
   system, Templafy helps the tech team, general and marketing
   managers of various departments including legal, administration,
   sales and marketing, human resource, and IT when it comes to
   handling documents. It has templates, cloud technology, real-time
   updates, and automation to elevate file compliance with your
   company’s brand and legal guidelines. Its pricing is on a per-user,
   monthly basis with a one-time setup fee.
5. Proofhub^[8]. It is a robust
   and versatile cloud-hosted project management solution equipped
   with scalable features to administer your company’s deadlines and
   deliverables. It matches the business requirements of SMEs and
   large enterprises. Proofhub has two pricing options depending on
   your company’s size. Plans start at $45 per month billed
   annually.

Category: B2B News^[9]
Tags: Document Management Software^[10]