Document management software consolidates data storage that allows employees to access it whenever they need to. This lets businesses respond faster to customer inquiries and complete key business processes. They also can adapt quickly when their requirements change. Document management systems can prevent hidden time-suckers that impede productivity. They allow employees to collaborate across offices, departments and even different locations.
The most modern document management systems can handle various kinds of files, both on paper and digital. They are typically scanned or uploaded manually or automatically. Many systems contain Optical Character Recognition (OCR) software that converts text based on images into searchable, editable content. Based on the specific requirements of your business you will want to search for documents based on type, index values, keywords, and full-text.
Many software systems provide version control. This allows you to see an exhaustive history of any changes made to the document. It’s easy to tell who changed the document, when they made it and why. This is particularly useful when you have web hosting multiple team members working on the same document.
A majority of software systems also allow to integrate your accounting software, enterprise resources planning (ERP) and other solutions. You can manage the entire lifecycle of a document from start to finish with only one tool. This ensures compliance with laws and regulations that regulate the retention of records in your organization.