Choosing the best document management software for your company can be challenging. Every organization is different and depending on what industry or department you operate in, requirements can vary immensely. Use this article to help you find the best document management software for your company in 2014. We will use 3 simple questions to help you narrow down which features you should look for when comparing different document management software so you will be well prepared to qualify competitive solutions this year.
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Paperless Document Management Software
The first question you should ask yourself is, "Do we want to go paperless in 2014?" If you are still using a traditional paper-based filing system in the office (you know.. bulky filing cabinets, disorganized manila file folders, endless copies of paper, lost documents.. you get the idea!) you may consider converting those files to electronic format. If you want to go paperless this year, the most important feature your document management software should include is scanning automation.
Scanning automation features help your organization go paperless quickly by using barcode recognition or optical character recognition (OCR) to file your documents automatically as they are scanned. There is no need to worry about manually naming every document with pre-approved naming conventions because each one is filed automatically according to metadata indexing information. This information includes things like the type of document (contract, w-2 form, correspondence, etc), client name or employee name. These metadata indexing fields are usually customizable for your industry or departments and you can add as many as you need.
When you need to retrieve a document, simply search for it by any combination of the metadata properties you indexed it with. If you're looking to go paperless in 2014, a hybrid system (one that can manage both paper and electronic documents) may be the best document management software for your company.
Compliant Document Management Software
The next question you need to ask is, "What kind of industry / corporate / departmental compliance regulations do we have to follow?" Depending on how you plan to implement your new document management software, there will be various security measures you will need to comply with. Security is important for information in any area of business, but document management compliance is most critical for departments dealing with protected information (like HR and accounting) and in regulated industries (like healthcare and life sciences).
Common compliance features you want any document management software to include are Audit Trail, Version Tracking and Document Control. Additional features that provide more security and freedom for collaboration include things like Encrypted Document Links, Floating Annotations and Electronic Signatures. Not everyone will need all available security features, but if you plan to implement your system in a highly regulated industry or department, compliance decides the best document management software for you this year.
Cloud Document Management Software
The last big question you need to ask is, "Do we need an on-site system?" This question also relates to compliance and corporate regulations, but is important to consider due to the difference in operating costs. Cloud document management software stores your documents offsite. They are stored on a server in a data center with a high level of security. These data centers are audited once or twice per year to ensure they are using the most advanced security protocols to keep your information safe. Criteria includes things like the latest encryption technology, redundant backups, biometric security, etc.
You access your documents securely from anywhere using your standard web browser. The beauty of cloud solutions is that you simply pay a monthly subscription fee and you are guaranteed 99.99% availability with free upgrades and no hardware or software to install. To maintain a similar level of security and availability with an in-house system you would definitely require a full-time IT staff to constantly monitor the data flow, upgrade software, install new hardware, etc. If there are no regulations holding you back, a cloud solution could be the best document management software for your business.
Contact Us For More Information
We hope that this article has provided you with some helpful information on what to look for when qualifying different document management solutions this year. DynaFile is scan to cloud document management software that combines scanning automation and cloud document management. We have been helping companies go paperless, increase efficiency and reduce costs over a decade. Contact us today for more information on how we can help your organization do the same!