Even in the digital era, the average workplace is dealing with a lot of documentation. As a result, businesses need solutions to combat the rising tide of paperwork — both physical and digital. A document management system (DMS) may be the single most important tool in this effort, allowing for secure, fast, and easy access to all the documents your business needs.

This guide will help you understand what a document management system is, how and why it could help your business's efficiency and effectiveness, which systems on the market will fit your needs, and how to choose the best one for your business.

Jump to a section:

• What is document management?
  • 5 Benefits of document management:
  • Document management vs. content management
  • Document management vs. records management
  • 3 Tools for document management
• What is a document management system?
  • 5 Key DMS features
• What document management systems are on the market?
  • 10 Key DMS functions to look for
• What is intelligent document processing?
  • Why use IDP?
• What kinds of document management are best for law firms and legal professionals?
  • 3 Document management systems for law firms
• What is the best document management system for construction professionals?
  • 4 Key DMS features for professional builders
  • 3 Specific document management systems for construction professionals
• What is the best document management system for accounting firms?
  • 4 Key DMS features for financial professionals
• What is the best document management system for medical professionals?
  • 6 Key features for medical professionals
  • Ensuring HIPAA compliance
  • 5 specific healthcare document management systems
• What is the best document management system for small businesses?
  • 5 small business DMS you may consider
• How do you choose a document management system?
  • 4 outstanding DMS options
• What are document management best practices?
  • 5 keys to document management
  • Let us help you manage your documents

What is document management?

Document management typically includes the creation, storage, utilization, archiving, and destruction of digital paperwork. Digitizing physical documents can provide measurable increases in efficiency, but electronic documents still need to be stored and organized in a way that makes them easy for authorized users to access while limiting access to everyone else. That’s where document management comes in.

5 Benefits of document management:

1. Security may be increased through creating and monitoring user controls and permissions.
2. Indexing and search are made easier through metadata tagging.
3. Users are able to quickly revert changes with document version rollback.
4. Allows for smoother collaboration, since users can access documents from nearly anywhere.
5. Document reproduction is much faster.

Document management vs. content management

It’s important to know the differences between document management and content management.

Document management	Content management
Manages structured data Focuses on document formats (.doc, .pdf, etc.) Aids workflow management Includes tools like optical character recognition (OCR) Is easily searchable	Manages structured and unstructured data Stores documents and audio/visual files (.jpeg, .mp4, etc.) Aids in publishing content Lacks tools like OCR Less searchable

Document management vs. records management

Similarly, document management is not records management. The two disciplines have commonalities, but they are distinct.

Document management	Records management
Manages general business documents Includes version history and user access tools Stores documents for everyday use	Is a subset of document management focused on compliance rather than access Manages signed contracts, insurance records, and other vital documents Has a more robust audit history and user access controls Customizable document retention rules Targets strict security and compliance standards

3 Tools for document management

There are three main tools for document management:

1. Document scanner
2. Word processing tools
3. Document management software

Read What Is Document Management? for more information.

What is a document management system?

An electronic document management system (DMS) is a software system that tags, indexes, and stores digital documents all in one secure location. This allows for version control, audit history, access controls, multi-site collaboration, and more.

5 Key DMS features

Different document management systems have different features, but at a minimum, you should look for ones that have:

1. Security: Protecting your business's proprietary information
2. Storage: Suitable file type support and quantity of storage space
3. Organization: Robust filing systems and indexing capabilities for easy retrieval
4. Accessibility: Availability whenever, wherever, and on whatever platforms your business requires
5. Audit compliance: Document history tracking that shows who changed what and when, with the option to undo changes

For more on what makes a good DMS, read What Is a Document Management System?

What document management systems are on the market?

There is a wide variety of electronic document management systems on the market. The right one for you depends on your specific needs and the features you find the most important. Some DMS solutions are better suited to small businesses, others to massive enterprises. Some prioritize regulatory compliance, while others specialize in innovative organizational methods.

10 Key DMS functions to look for

When evaluating a document management system, there are ten functions to consider:

1. Version control: How easy is it to track document versions?
2. Audit history: How does the DMS track changes, and how easy is it to audit them?
3. Customizable security controls: Can you customize the security protocols and rules?
4. Compliance checks: How thorough are the compliance checks, and what are they checking against?
5. Process automation: How much can be automated?
6. Document capture and OCR: How well does the DMS capture documents, and what technologies does it use?
7. Form and e-signature compatibility: Can you input configurable forms and capture signatures?
8. Cloud storage: Does it store documents in the cloud?
9. Collaborative document editing: Does it allow for online collaboration, and, if so, how many users can work on the same document at a time?
10. Document archiving: How does the DMS archive data, and where and how are those archives stored?

What is intelligent document processing?

Intelligent document processing (IDP) refers to the extraction of data from scanned documents, the analysis of that data, and its application to specific tasks. For example, IDP can look over the elements of a loan application and quickly determine whether or not to extend an offer. Scanning confidence acts as a safeguard, putting potential exceptions into a queue for human review.

Why use IDP?

IDP adds an intelligent layer of automation to document management, providing the following benefits:

• It helps manage the intake of large quantities of forms.
• It eases scaling by keeping headcount low.
• It continually improves thanks to AI and machine learning.

To learn more about IDP, read What Is Intelligent Document Processing?

What kinds of document management are best for law firms and legal professionals?

The best document management system for law firms is one that prioritizes version control and quality organization to keep things running smoothly. Law firms know better than most businesses how disastrous a small mix-up in paperwork can be. They also know how much time searching for the right document can eat up.

8 Key DMS features for law firms and legal professionals:

1. Cloud-based software for convenience, security, and simplicity
2. On-premises installation for increased control
3. Significant document storage capabilities (with backups if outside the cloud)
4. Data encryption and multi-factor authentication for security
5. Powerful document tagging, organizing, indexing, and search tools
6. Available and effective customer support for easy onboarding and service issue resolution
7. Document version control to rollback mistakes
8. Integrations with other apps such as Microsoft Office Suite

3 Document management systems for law firms

With all of the above in mind, there are a few specific document management systems that could be best-suited for law firms.

1. NetDocuments is specifically designed for law firms. It’s cloud-based and sports an intuitive user interface.
2. iManage is a specialized document management system that focuses on data governance, security, and compliance. The platform can index relevant data from emails and files and make that information searchable.
3. Clio is a cloud-based electronic documentation management system that includes client intake, CRM, and billing capabilities. It’s easy to use, and reviews have praised its customer support.

Read Document Management Systems for Law Firms: What Legal Professionals Should Know to learn more.

What is the best document management system for construction professionals?

The best DMS for construction professionals is one that prioritizes efficiency and collaboration. In construction, paperwork eats up around $1,500 per worker, per year, according to one U.K. study. Strict regulatory compliance, several teams working in tandem, and legal demands around document archiving make the implementation of a document management system essential for maximum efficiency.

4 Key DMS features for professional builders

Professional builders benefit from the following DMS features:

1. Fast and easy access to relevant documents
2. Version control for rollbacks and document history
3. Powerful paper scanning
4. Cloud-based storage

3 Specific document management systems for construction professionals

1. CoConstruct is a home building and remodeling-specific cloud-based document management system. It includes a smartphone app, tools for client communication, estimates, job progress reports, and project tracking.
2. PlanGrid is a commercial and industrial building-specific cloud-based document management system. It includes tools for marking up files, version control, metadata editing, and remote collaboration.
3. Raken is a construction management platform with construction-specific document management capabilities, such as on-site reporting tools with notes and photos. It lacks robust native file storage, but it’s partnered with cloud solutions to up its storage capabilities.

For more on how a DMS can increase efficiency in your construction business, read Document Management Software for Construction: What Professional Builders Need to Know.

What is the best document management system for accounting firms?

The best document management system for accounting firms will help them reduce human error, up their productivity, increase document safety, and reduce spending on storage by moving things into the cloud. In accounting, there is no work but paperwork. That’s why it is vital to have securely stored documents, organization, and accessibility.

4 Key DMS features for financial professionals

Accountants should look for the following features:

1. Accurate document capture
2. Fast, easy, and powerful document tagging, sorting, and searching capabilities
3. Security controls such as user roles, access conditions, audit trails, and data encryption
4. Cloud storage

Read Document Management for Accounting Firms: What Financial Pros Need to Know for more information.

What is the best document management system for medical professionals?

The best DMS for medical professionals will emphasize compliance and security. The fact is, many healthcare practices already use electronic health records (EHR) to store patient data virtually, but those systems can only store specific file types. Moving to an electronic documentation management system can mean adding your financial records, human resources documents, and more to the same secure and easily accessible repository without compromising user access controls or HIPAA compliance.

6 Key features for medical professionals

Medical professionals should look for the following features:

1. Granular access control
2. Data encryption
3. Version control
4. Audit history
5. Collaborative document editing
6. Integration with EHR and other practice management software

Ensuring HIPAA compliance

A document management system can go a long way toward HIPAA compliance, but your business should also consider:

• Physical and digital risk assessments to ensure physical and digital records are safely locked away (literally and virtually)
• Rigorous staff training alongside regularly-reviewed policies and procedures that maintain HIPAA standards
• Detailed contingency plans in case of security breaches reinforced by intermittent exercises among staff

5 specific healthcare document management systems

1. Allscripts is a full-service healthcare IT partner that supports EHRs, financial management, and operational products.
2. Enterprise Document Management by Cerner is a dedicated healthcare document management software that stores and organizes patient details and supports electronic signatures.
3. Digitech Systems provides an enterprise content management system designed to work with your pre-existing EHR system. It focuses on HIPAA compliance and enables remote work and telehealth.
4. PRISMA by eClinicalWorks is an EHR interoperability solution that stores patient, insurance, and wearable device information into a single, complete location.
5. Rubex by eFileCabinet can offer HIPAA compliance nearly out of the box and prompts users to change their passwords at fixed intervals to minimize vulnerability.

Read our guide, The Healthcare Professional's Guide to Medical Records Management, to learn more.

What is the best document management system for small businesses?

The best DMS for small businesses will offer small business owners and employees easy access to all the documentation necessary to run the business, protect those documents from bad actors and malfeasance, and may even offer automation to speed up repetitive tasks that would otherwise devour precious working hours. Because even a small business may find that the efficiency gained from a document management system outweighs its upfront costs.

5 small business DMS you may consider

1. DocuWare is a cloud-based DMS with intelligent search capabilities, compliance tracking, workflow automation, e-signature requesting, and more. Its offerings are customized for each business based on size and functionality needs.
2. eFileCabinet offers on-premises and cloud-based options, with support for granular file governance, e-signatures, intelligent search, document and file structure templates, and form creation.
3. M-Files is an easy-to-use, cloud-based DMS that uses an AI-powered, metatag-based search function to make documents quick and easy to find. It also includes robust access and governance controls and built-in OCR.
4. VIENNA Advantage is a free (or paid), open-source DMS intended for more technically proficient businesses. The free version, Community Edition, doesn't offer technical support, but the software's active community often steps up when issues arise.
5. Microsoft SharePoint is the tech giant's cloud-based DMS. Beyond integrating with the Office suite, it also offers a flexible and comprehensive toolset that may take longer to configure but could pay off over time.

For more on how the right DMS can benefit your small business (and how to pick the right DMS), read The 5 Best Document Management Software for Small Businesses.

How do you choose a document management system?

Choosing a DMS involves comparing a lot of features and options. It’s important to start with identifying what you absolutely need for your business, and whittling the list down to those that offer your must-have features.

We’ve boiled down the list to four DMS offerings that stand out in their field.

4 outstanding DMS options

1. Microsoft SharePoint: A powerful electronic document management system with a vast suite of tools such as simultaneous file editing, configurable workflows, and integrations with both the Office suite and plenty of third-party platforms.
2. M-Files: Unique, AI-powered system to organize files by scanning them for metadata.
3. Hyland OnBase: DMS with modular design, so businesses pay for exactly the tools they need and nothing more.
4. DocuWare: Cloud-based or on-premises DMS with document capture across paper, email, and other sources and powerful corresponding search functionality.

For more details on our picks, read 5 of the Best Document Management Software Solutions.

What are document management best practices?

Document management best practices are the strongest protection a business has against disorganized document bloat. They can help the gears turn smoothly no matter how much paperwork (physical or digital) accumulates.

5 keys to document management

1. A standardized, intuitive document management plan considers who needs access to a document, when they need access, and when to archive.
2. A document management system with sufficient storage, intuitive design, document security, version control, and any other features specific to your business will help you keep costs down.
3. Consistent categorization of documents is crucial to being able to find what you need when you need it.
4. Prioritize remote access with built-in collaboration tools.
5. Regular document management practice audits can help keep document bloat under control.

To get granular with document management best practices, read The 5 Document Management Best Practices Every Business Needs to Know.

Let us help you manage your documents

Whether you’re new to digitization or years into your practices, we have offerings to fit your needs. Our fi and SP Series scanners lead the industry in speed and accuracy of scanning, making it easier than ever to turn your paper records, invoices, forms, and more into digital documents that are safer and easier to index, organize, modify, retrieve, and destroy. These scanners result from more than 85 years of research and design experience, and they’re ready to handle anything you can throw at them.

These scanners integrate seamlessly with many of the leading document management systems on the market, so you don’t need to worry about extra hassle between scanning and filing. Click here to learn more and to shop the line.

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