Document management software is invaluable for a variety of reasons. It streamlines processes and cuts down the time required for manual work. It also ensures compliance with regulations. The best document management system will bring all documents together in one central database that can be accessed and provide tools to automate the work of documenting. The system also lets employees work effectively with their colleagues or partners, even when they work remotely.
Before selecting a system, identify your unique business requirements and the features that are most important to you. Determine, for example, if you need a tool to store and organize files that can be connected to other systems such as accounting or email. Or if you would like to be able create new documents with the platform. If you are in a business that is regulated, you must ensure that the software for managing documents you select meets regulatory requirements such as HIPAA and Sarbanes-Oxley.
Examine the storage capacity of your system and ensure it can grow with your needs. Be sure that the system you select has a strong feature for converting paper documents into digital files. You should also consider the system’s ability to index and categorize documents using relevant metadata and precise tagging to allow rapid search and retrieval of any kind of file.
Look into a document management system that permits simultaneous sharing, editing and collaboration with co-workers or outside parties. You should also consider a system’s capability to track and manage the history of versions. This is vital for companies operating in industries that are regulated, such as healthcare or pharmaceuticals, where they must adhere to strict regulations.