Document management software is a centralization tool for information storage which allows employees to access it at any time they require. This helps businesses respond faster to requests from customers and to complete essential business processes. It also lets them adapt quickly as their needs change. Document management systems can also help prevent hidden time-sinks that drain productivity by allowing workers to work together across offices, departments or even locations.
Modern document management systems can manage an array of file types – both digital and paper. They are typically either manually uploaded or scanned automatically. Many systems come with Optical Character Recognition (OCR) software, which transforms text from images into editable and searchable content. Depending on your specific requirements you will want to search for documents based on type, index values, keywords and full-text.
Many systems also offer the ability to control version. This allows you to view a complete history on the changes made to the document. It’s easy to identify who did the alteration, when they made it and why. This is particularly helpful when you have multiple team members working on the same document.
Most systems also allow you to connect with your accounting software, enterprise resource planning (ERP), and other solutions. This enables you to manage the entire document lifecycle from start to finish using one tool. This ensures compliance with all laws and regulations that regulate the retention of records in your company.