Document management software centralized the storage of documents and allows employees to access it at any time. This enables faster responses to customer inquiries, accelerates completion of key business processes, as well as helping businesses to be agile as their needs change. Document management systems also help to eliminate hidden time-sinks that eat away virtual data room technology at productivity by enabling people to work together across departments, offices or even locations.
Modern document management systems support an array of kinds of files, both on paper and digital. Typically, these documents are scanned into the system, or uploaded manually or automatically. Many systems come with Optical Character Recognition (OCR) software that converts image-based text into searchable, editable content. Search for documents by type Keywords, index values, and full-text.
Many systems also offer versions control. This lets you see a complete history on every change made to a document. It’s easy to tell who made the change, when they made it, and the reason for it. This is particularly helpful when you have several team members working on the same document.
Additionally, most systems allow you to incorporate them with your accounting software and enterprise resource planning (ERP) and other applications. You can manage the entire lifecycle of documents from start to finish with just one tool. This will ensure compliance with the laws and regulations pertaining to the preservation of documents within your organization.