Document Management Systems

What are Document Management Systems?

Document Management Systems (DMS) provide enterprises with the capability to digitally capture and convert documents and files. Features of document management software may also extend to document storage, search and retrieval, and sharing. DMS reduces enterprise dependence upon space-consuming document printing hardware, printed paper, and file drawers.

Document management software plays a crucial role in ensuring data security and compliance for businesses. Document management software offers businesses the tools and features necessary to enhance data security, protect against breaches, and maintain compliance with industry regulations. While specific implementations may vary across different products, the goal remains the same - to provide a secure and compliant environment for managing and protecting sensitive documents and information.

Maintaining compliance with industry regulations and standards is another important benefit of document management software. Many industries have specific requirements for data security and privacy, such as HIPAA for healthcare or GDPR for businesses handling personal data of EU citizens. Document management software helps businesses meet these requirements by providing features like audit trails, data encryption, and secure storage.

Different products implement this functionality in various ways. For example, some document management software offers client-sharing portals with secure file transfer capabilities, enabling businesses to securely share sensitive information with clients or partners. Other software provides built-in network security features, streamlined workflows, and highly encrypted client-sharing portals to ensure compliance from an organizational standpoint. Additionally, some software integrates with other platforms like Microsoft 365 or Google Drive to provide a holistic understanding of data protection status.

Document workflow automation is another prevalent feature in document management software, with multiple benefits for businesses. This functionality eliminates manual and repetitive tasks, saving time and reducing errors. By automating document-driven processes such as approvals, notifications, and routing, businesses can streamline their workflows and ensure efficient and accurate task completion. Different document management software products implement document workflow automation in various ways. Some offer customizable workflow templates that allow businesses to design and automate their specific document processes. These templates can be tailored to fit the organization's unique requirements, ensuring that the workflows align with their business processes. Document workflow automation is a valuable feature in document management software that can significantly benefit businesses by saving time, improving efficiency, enhancing collaboration, and ensuring compliance. The specific implementation of this functionality may vary across different software products, but the goal remains the same – to automate and streamline document-driven processes for better business outcomes.

Document management systems share featural overlap with Enterprise Content Management (ECM) or Digital Asset Management (DAM) platforms. However, document capture and manipulation is central to document management. This includes imaging, file type conversion, versioning, and metadata management, with document editing and access controls. An alternate approach to document management is to include templated document generation as a feature. This way paper document generation and sharing is not needed to begin with. These DMS often provide contract lifecycle management, and electronic signature as well.

Features of Document Management Systems

Document management systems provide the following feature set:

• Imaging, mobile image capture
• Versioning, automated
• Metadata management
• File type conversion
• Document sharing & collaboration
• Automated backup, archiving (i.e. integration)
• Document publishing, public sharing
• Policy-driven access and controls
• Graphic-based object editing, manipulation
• .pdf editing, fields
• Customizable search, content location
• Templates, electronic document builder
• Integrated eSignature

Document Management Systems Comparison

To more easily compare Document Management Systems consider evaluating different options based on these factors:

On-Premise vs Cloud: Users tend to think about the pros and cons of an on-premise versus cloud-based document management system in terms of maintenance and access control. On-premise systems allow for more control on your end, whereas one of the advantages of cloud-based offerings is that most of the maintenance is the responsibility of your provider. Cloud-based systems also come in handy when users aren’t able to come into the office, but this does require an internet connection, unlike on-premise systems that can run offline. Ultimately, cloud-based systems have all the pros of on-premise systems, plus they’re more portable and accessible, unlike their on-premise counterparts.

Ease-of-Use: Given that document management systems by nature are meant to facilitate a traditionally by-hand-and-paper process, usability is one of its most important factors. With document management systems, you will certainly want to try out a demo before making a purchasing decision. Look for document management software that has a good search function for easily locating files within your system, and thus tagging them.

Security: Security is paramount with document management systems. This begins with the system allowing administrators to set up access controls and permissions. However, as with any system that handles business information, verify that the software you are considering clearly outlines the measures they take to keep your documents secure. This includes not only features specific to the particular software itself, but those that are implemented so that the software complies with both local and international security standards and regulations.

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Pricing Information

More feature complete document management systems are generally offered on a cloud-based, software-as-a-service model and are available by subscription. 30-day free trials of document management systems are common. The most common pricing variable is the number of licensed users. Plans may also be priced according to the volume of contracts processed and managed. Some vendors offer perpetual licensing for simple document management products (e.g. .pdf editors, converters, etc). Also, ECM vendors may supply all the features required for document management as modules for their platforms.