What Is Document Management Software?
15th October 2022
Document management software has become an important part of any business in the ever-growing digital world. Rather than wasting paper and using paper-based documents to store in cabinets in and around the office, document management is ultimately a digital, cloud-based archive that users can access and edit on the go from any device.
Document management systems today range from modest standalone systems to expansive enterprise-wide installations that cater to a worldwide audience. Many document management systems offer a way to combine common physical document filing procedures electronically. These consist of:
- Location for storage
- Security and access management
- Version management
- Audit logs
- Document lockdown and check-in/check-out.
- While still acknowledged and used on its own, document management is also a typical part of an ecosystem for enterprise content management.
Through the use of document scanning technology or by being used as a digital document, document management software aids in the storage, access, management, control, and tracking of digital documents as well as electronic images of paper-based information. In order to exchange, manage, and organise digital files, document management systems can be extremely basic or more complex corporate content management systems with added capabilities for records management, information governance, and other functions.
Document management offers centralised storage, audit trails, access control, document protection, and faster search and retrieval. It’s essentially the process through which your business stores, controls, and keeps track of its electronic documents.
One of the technologies that led to content management is document management, which, not so long ago, was only accessible on a standalone basis, like its siblings in imaging, workflow, and archiving. This enables you to use your documents whenever you have a need for them.
Among the essential elements of document management are:
- Version management allows for tracking of how the current document was created and how it varies from previous versions while coordinating the simultaneous editing of a document to prevent one person’s edits from overwriting another’s.
- If a mistake or early release occurs, roll back to “activate” a previous version.
- Annotations and stamps serve as an audit trail, making it possible to reconstruct who made what changes to a document throughout the duration of the document’s time in the system.
Enterprise Content Management (ECM) and a Document Management System (DMS)
An enterprise content management (ECM) system offers much broader capabilities for managing and controlling access to a variety of file types — not just documents — and may also include additional capabilities like workflows, business process management, and information governance. While a document management system enables you to manage and control documents across your organisation, an ECM system also offers additional capabilities like workflows, business process management, and information governance.
What benefits do open-source document management systems offer?
With the use of off-the-shelf AI and machine learning technology, you may enhance content information using open document management system software.
What features should you search for in a document management system?
In order for information to be accessible across a variety of business applications, it is crucial to take into account the capabilities of document management software to expand and connect other line-of-business systems (such as Salesforce and SAP).
User interaction with the system must also be taken into account. Different people like to work in various ways, whether through online browsers, desktop computers, or mobile devices.
Why should document management be automated?
If you don’t keep up with technological advancements, your business will fall behind its rivals in today’s fast-paced digital market. Document-related issues cost businesses 21.3% of their productivity, claims Business.com. Little things, like finding it difficult to locate or access a document, can significantly negatively impact productivity over time. Poor document storage results in a retrieval time of 30 seconds on average, which is 50% longer than it should be only to search for the document. Implementing a DMS is becoming crucial for simplifying document-related corporate activities rather than just a luxury.
At Insight Systems, we offer a range of software solutions from DocuWare, PaperCut Hive, Papercut MF, Ricoh Smart Integration and Kofax ControlSuite. If you’re interested in learning how we can help you reduce your business’s print costs and would like to book your print audit, get in touch today to speak to one of our friendly experts.