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Updated Jul 19, 2024

The Best Document Management Software of 2024

It's time to go paperless. DMS like DocuWare securely digitizes and stores the information that keeps your business running.

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Written By: Adam UzialkoSenior Editor & Expert on Business Operations
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A business.com editor verified this analysis to ensure it meets our standards for accuracy, expertise and integrity.
Chad Brooks
Managing Editor & Expert on Business Ownership
Business.com earns commissions from some listed providers. Editorial Guidelines.

Poor document management can damage internal efficiency and leave companies vulnerable to loss of important data and, in the worst cases, subject them to financial penalties for failing to comply with regulations. The latest document management software (DMS), such as Revver and M-Files, solves these issues by storing all of your documents securely in one place and making it easy for your staff to find and retrieve them on demand. To help you find the best document management software for your business, we’ve spent dozens of hours researching all of the top platforms. We compared them against each other on a range of factors from features and ease of use to cost and customizability.

Sponsored Partners
Revver (formerly eFileCabinet)
Best for Storage Capacity
Image related to the service.
  • Up to 20Tb storage
  • No free trial
  • Webform/chat, phone, email support
M-Files
Best for Ease of Use
Image related to the service.
  • Server-side storage capacity
  • 30-day free trial
  • Email/phone support
FileHold Express
Best Scalable DMS
Image related to the service.
  • 32GB-4TB storage
  • 30-day free trial
  • Email & webform support
DocuWare
Best for Integration
DocuWare logo
  • 250-1000GB + custom options
  • 30-day free trial
  • Support by online request form
DocuPhase
Best for Productivity
DocuPhase logo
  • Max storage dependent on use case
  • No free trial
  • Email/phone support
Table Of Contents Icon

Table of Contents

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At business.com, our team of technology experts has analyzed hundreds of tools and services designed to improve essential business operations, from POS systems to GPS fleet management services to remote PC access software, and we use these experiences to provide business owners with actionable guides and industry insights. Every playbook and explainer is infused with advice from real IT consultants, implementation experts, security specialists, software developers and more.

Our rigorous product review process involves in-depth industry research, vendor interviews, hands-on testing and service comparisons. Each analysis — whether for a business phone system, CRM platform, call center software or website builder — is independently verified by a business.com editor to ensure our recommendations are free of bias and errors. Learn more about our editorial process.

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How We Decided

To identify the best document management software on the market, we conducted hands-on testing to examine how each solution functioned. We paid particular attention to features like optical character recognition, file-sharing, storage capacity, workflow automation,...

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To identify the best document management software on the market, we conducted hands-on testing to examine how each solution functioned. We paid particular attention to features like optical character recognition, file-sharing, storage capacity, workflow automation, collaboration tools and document security. We considered how it easy it was to navigate the system, as well as whether it could be augmented with third-party integrations. Last but not least, we considered pricing and the availability of free trials.

72

evaluated

10

researched

5

chosen

To identify the best document management software on the market, we conducted hands-on testing to examine how each solution functioned. We paid particular attention to features like optical character recognition, file-sharing, storage capacity, workflow automation, collaboration tools and document security. We considered how it easy it was to navigate the system, as well as whether it could be augmented with third-party integrations. Last but not least, we considered pricing and the availability of free trials.

72

evaluated

10

researched

5

chosen

Compare Our Best Picks

BDC Ribbon
Our Top Picks for 2024
Revver (formerly eFileCabinet)
M-Files
FileHold Express
DocuWare
DocuPhase
Rating (Out of 10)9.79.49.49.69.2
Use Case

Storage Capacity

Ease of Use

Scalable

Integration

Productivity

Free Trial

No

30-day free trial

30-day free trial

30-day free trial

No

Demo Available

Yes

Yes

Yes

Yes

Yes

Pricing

Requires a quote

Four tiers; requires a quote

Requires a quote

Requires a quote

Requires a quote

Storage

20TB

Dependent on server-side storage capacity

32GB-4TB

250GB-1000 GB for cloud storage. Custom options also available

Max storage dependent on use case

OCR

Yes

Yes

Yes

Yes

Yes

Customer Support Options

Customer service form, chat, phone number, email

FAQ page, video channel, solution catalogue, M-Files community, e-mail

Email, form, FAQ, Knowledge Base

Support request form, community forums, educational articles

Phone, email, FAQ, videos

Review Link
Scroll Table

Our Reviews

Editor's Rating: 9.7/10

Why Revver is Best for Storage Capacity

Revver is an excellent option for businesses concerned about having enough storage space. In fact, it’s the only choice on our list that offers a 20TB storage option (most of its competitors max out at 5TB). Revver is ideal for large teams that handle and store a lot of information. This cloud-based solution also favors remote work, allowing employees to connect from anywhere through its mobile or desktop app. There are multiple service plans to choose from that vary by price, storage options and included features.

This software impressed us with more than just the amount of documentation it can hold. We love its wide range of core and customizable features, like quick search and automated workflows. We found the ability to import attachments and emails directly into Revver’s folders particularly useful and well-executed. We also appreciated how tightly the platform is integrated with key cloud services like Google Drive and Microsoft OneDrive. This makes managing, synchronizing and importing your documents seamless and efficient between the apps you use. The recently revamped dashboard also stood out to us as it simplified even further an already very intuitive user interface.

Revver files

We were impressed during our demo at how Revver makes it easy to access essential documents and files instantly. (Source: Revver)

Revver Pricing and Services

You need to call the company to get a quote for service, but our contact told us during the demo that pricing starts at around $2,000 a year and that storage sizes of 1TB, 5TB, 15TB, and 20TB are available.

We also learned that while many features were included in your subscription, other features were an additional cost, notably additional users and access to space over your limit.

Revver Advantages

  • With a maximum capacity of 20TB, Revver offers four times the storage space of most competitors.
  • The no-code automation tools are intuitive and well-executed, meaning you can quickly adapt to how the platform manages, stores and retrieves files and documents around your company’s existing processes.
  • You can tightly integrate Microsoft 365 and many other key business apps with Revver, greatly improving your firm’s internal efficiency.

Revver Disadvantages

  • Although Revver does not publish its pricing, feedback from existing users suggests that the platform may be expensive for smaller teams and companies.
  • Revver doesn’t post pricing online, so it is hard to know whether it will even fit within your budget without speaking with a sales representative.
  • Revver’s app is still its old eFileCabinet iOS and Android app, indicating that it has not been updated for years. Even when it was newer, it was poorly received by clients.

Revver user score

On TrustRadius, users of the platform award the platform 8.7 out of 10. Customers rate the system for its ability to improve workflows, its e-signature capabilities and its centralization of all documents and subsequent easy retrieval. One client stated that “eFileCabinet is great for the smaller CPA office for document storage. It is priced well within the means of a small firm’s budget”.

Click here for our full Revver review

Editor's Rating: 9.4/10

Why M-Files is Best for Ease of Use

With M-Files, users can quickly and seamlessly organize and manage electronic documents. Its sleek and intuitive user interface offers the familiar feel of Windows File Explorer, reducing the learning curve for new users. Across all the systems we reviewed, M-Files was by far the easiest to use, with a highly intuitive dashboard and minimal employee training needed.

There’s much to commend the M-Files as a system though in addition to its user-friendly controls. For example, we love how the built-in M-Files Smart Metadata technology simplifies, speeds up and enhances the classification, search and retrieval process on the platform. The new M-File Ment no-code visual editor is a stand-out for automating the creation of documents across all departments from sales contracts and security policies to internal instructions and process documents. The platform’s marketplace has a wide range of out-of-the-box integrations to Google, Microsoft, and Adobe so you can connect M-Files easily to your existing business apps for enhanced productivity.

M-Files dashboard

The M-Files dashboard offers a superior user experience, easy accessibility to documents and files in storage, and an indication on the volume of storage space you have left. (Source: M-Files)

M-Files Pricing and Services

M-Files does not publish pricing on its website – you need to contact the company for a tailored quote for your company.

Service PlanFeatures
M-Files Base
  • Metadata-driven architecture
  • Search
  • Access from desktop, mobile & web
  • Automated graphical workflow
  • Version control with check-in/check-out
  • Microsoft Office 365 & Teams integration
  • Integration to external databases
  • M-Files, Microsoft Active Directory, and Azure AD authentication
  • M-Files Help Center and M-Files Academy
  • M-Files Optical Character Recognition (OCR)
  • Support for External Repository Connectors
M-Files TeamEverything in the Base plan, plus:
  • Cloud and self-hosted systems
  • Advanced Search
  • Importing tools
  • Adobe Sign & DocuSign integration
  • Reporting Module
  • Standard support (email/phone)
M-Files BusinessAs Team plus:
  • Advanced Document comparison
  • High-availability & high-resiliency support for self-hosted deployments
  • M-Files Aino and all other M-Files AI capabilities
  • M-Files Connector for Copilot

Additional services are available for an extra fee, including a no-code automation tool (M-Files Ment), HubShare (extranet creation), advanced security, advanced rendering, and more.

M-Files Advantages

  • Building document-related automated workflows that also connect to other business apps you use is straightforward with the M-Files Ment drag-and-drop, no-code tool.
  • Finding the documents you need in M-Files is easy, as you can search by metadata and text.
  • M-Files offers a full 30-day trial so you can test drive the system to see if it’s the right fit for your company.

M-Files Disadvantages

  • The company doesn’t publish pricing. You’ll need to contact M-Files for a price quote.
  • The platform does not have a Mac OS-specific solution and relies on a browser-based web companion app.
  • Depending on the service plan you choose, you may not have access to phone or email support.

M-Files user score

M-Files’ users highly rate the platform, awarding it 9.1 out of 10 on TrustRadius. Customers cite the ease of use M-Files offers, its scalability, search and retrieve functionality, and enterprise-level security as the features they most appreciate.

Click here for our full M-Files review

Editor's Rating: 9.4/10

Why FileHold is the Best Scalable DMS

We found FileHold to be the best scalable document management software, as it offers numerous service plans, features and pricing options that make it easy to scale up or down depending on your business’s specific needs. Standard features include Google-like or advanced search methods, version control, scanning and imaging, OCR and indexing, electronic forms, and Microsoft Office integration. As your business’s needs become more sophisticated, you can add on tools such as document workflow, print-to-FileHold and automatic document importation. You can also get custom features, including those for multiple languages, auto-filling, and rebranding the look and feel of the software.

Two stand-out features of the company’s after-sale support we loved are its extensive online knowledge base and the bi-monthly online workshop FileHold organizes where customers can interact with the company.

FileHold document number

FileHold gives each document its own unique number which makes it easy to find and manage. (Source: FileHold)

FileHold Pricing and Services

FileHold offers customized pricing based on your specific needs. There are two different versions of the platform – cloud-based and on-premise. Which of these two options you choose, together with how much you use the software and the storage space you require, will determine the price you pay. You need to reach out to a Filehold sales representative to get specific pricing information.

There are two main payment options:

  • Monthly subscription: You pay by user up-front annually and benefit from software upgrades and unlimited tech support. There are no additional fees for the amount of storage used (except for extra cloud storage costs), the volume of documents you store, or the number of scans you undertake. FileHold recommends this option for organizations with five or more intended users.
  • Outright purchase: The other option is to purchase the software on a perpetual license basis. FileHold offers interest-free financing to spread the cost.

If you trade in your old system, FileHold will reduce subscription and purchase fees. The company offers a two-week free trial to businesses wanting to test the software.

FileHold Advantages

  • The company offers customized cloud and on-premises options, which is excellent for alignment with your firm’s IT and data security strategies.
  • The flexible architecture of FileHold means that it can handle the needs of all businesses, from the smallest companies with a handful of users to multinational enterprises.
  • You can make the system your own thanks to the ability to customize and automate workflows and its wide range of apps and integrations.

FileHold Disadvantages

  • If you decide to deploy a joint cloud and on-premises platform, you’ll need your own internal IT infrastructure and team to manage the system.
  • The on-premises version does not support Mac-based computers. If you use Mac, you must connect via a browser application.
  • There is no telephone support.

FileHold User Score

Clients score FileHold highly on TrustRadius, awarding the platform 7.1 out of 10. One user remarked that ‘FileHold is great for any size department or organization that is looking to “go paperless.”’ Reviewers valued the platform’s overall performance, usability and ease of integration with their other systems, with one commenting that, since adoption, they have improved employee efficiency and approval process speed.

Click here for our full FileHold review

DocuWare logo
Editor's Rating: 9.6/10

Why DocuWare is Best for Integration

DocuWare is document management software that excels in integration. The software integrates with over 500 applications, including popular financial software Sage and QuickBooks, as well as Microsoft Outlook, Microsoft Dynamics, SAP and Oracle. DocuWare offers easy integration options, which ensures you have numerous ways to connect the software to the programs you use most. This level of integration helps ensure more consistency, organization and real-time updated data for your business. DocuWare also offers a free trial, so your team can test out the software and integrations before making a commitment.

DocuWare’s secure storage works hand-in-hand with integration: Business emails can be archived directly and safely with native Microsoft Outlook integration. Secure content can also be accessed from your CRM, ERP and other applications through integrations. We were also impressed by the workflow automation capabilities of DocuWare to streamline business processes and improve overall efficiency.

DocuWare drop documents

We were impressed by how you can drop documents into DocuWare, and the system extracts key data automatically. (Source: DocuWare)

DocuWare Pricing and Services

Docuware does not publish prices on its site. We were, however, informed during the review process that prices typically vary between $25 and $100 per user per month.

There are cloud-based and on-premise options, as well as a mixture of the two. On-premises pricing can be as low as $5 per user per month.

For its cloud-based software, it offers the following options:

  • DocuWare Cloud 4: 20GB storage, supporting up to 4 users.
  • DocuWare Cloud 15: 50GB storage, supporting up to 15 users.
  • DocuWare Cloud 40: 500GB storage, supporting up to 40 users.
  • DocuWare Cloud 100: 1,000GB storage, supporting up to 100 users.

You can test the system at no cost by requesting a free trial from Docuware.

DocuWare Advantages

  • DocuWare can connect seamlessly with over 500 applications via custom apps, data connectors or API integrations.
  • Companies without dedicated IT teams can easily create workflows thanks to the platform’s intuitive drag-and-drop interface.
  • The system can manage all types of documents, making it a solid solution for all your teams,, including marketing, accounting, sales, human resources, payroll, HR, and more.

DocuWare Disadvantages

  • DocuWare does not provide pricing on its website, which makes assessing it against its competitors harder.
  • The company does not offer a desktop application for Mac and Linux users.
  • There is no customer support telephone number for DocuWare clients. You must submit a request ticket or look for solutions on the platform’s online database.

DocuWare user score

Scoring 9.2 out of 10 in customer reviews on TrustRadius, users report that they are happy with the feature set, usability, level of customer support, implementation and pricing of DocuWare. One user mentioned that they moved 250,000 documents from filing cabinets onto DocuWare whose platform made it “much less time-consuming than it otherwise would have been.”

Click here for our full DocuWare review

DocuPhase logo
Editor's Rating: 9.2/10

Why DocuPhase is Best for Productivity

We found DocuPhase to be the best document management solution for fostering productivity. This cloud-based system has many tools and features to help your team stay organized, remain on task and finish projects faster. We especially like the auto-indexing tool, which allows users to create preset tags that can be automatically assigned to incoming files, ensuring consistent document organization. We also love the speed and accuracy with which the OCR technology extracts data from files and documents. Data handling and organization on DocuPhase are exceptional thanks to the advanced search functions that help staff find and retrieve documents quickly.

DocuPhase dashboard

The DocuPhase dashboard is pleasingly intuitive, with one- or two-click navigation to key features on the platform. (Source: DocuPhase)

DocuPhase Pricing and Services

Like most document management vendors, DocuPhase does not publish its prices. You have to contact a sales rep for a tailored quote.

However, during our research, a company representative told us that its cheapest plan is around $11,000 per year for five users.

The company offers a free demo and a free trial option to try the system before committing.

DocuPhase Advantages

  • The ability to automate on DocuPhase is exceptional, with the platform’s auto-indexing, document approvals and custom document routing.
  • DocuPhase’s OCR tool accurately reads data from single or batch documents, saving staff time from manually searching for information.
  • The webform feature is well-executed and can lead to greater data accuracy and faster workflows.

DocuPhase Disadvantages

  • Although the software is intuitive, the sheer range of native and plug-in features may be overwhelming for inexperienced users.
  • Customers have expressed concerns about slow service from the support team, especially during software updates.
  • DocuPhase offers telephone, email, and remote connect support during local business hours, but not after hours, which could be an issue for some companies.

DocuPhase user score

DocuPhase scores 10 out of 10 on TrustRadius, a site that collects and aggregates real world reviews from customers. At time of writing, this was the only review on the platform however this mirrors the high scores the platform receives on other user review sites.

Click here for our full DocuPhase review

What is Document Management Software and What Does It Do?

Document management software enables businesses to digitize existing documents and records and create new ones. Any user with the requisite permissions can then edit these documents, enabling organization-wide collaboration.

Document management systems also include tools to organize documents, usually by systems of tagging and metadata. For example, all financial documents could be tagged “finance”, and then sorted into sub-categories like “accounting”, “expenses”, “invoices”, etc. Most systems are flexible and allow you to set up your own filing system.

Today, the best document management systems automate some of these functions through a feature known as optical character recognition (OCR). This enables the software to review the contents of a document and automatically affix relevant metadata to it, filing it away in an appropriate folder.

What Are the Benefits of Using Document Management Software?

Document management systems offer business owners many important benefits, including:

  • Increased security: Document management software offers a better way to store, sort, search and access records. It also allows administrators to restrict certain files by permissions, ensuring only those who require access to those documents have it.
  • Ability to make and track changes from anywhere: Files can be repeatedly edited and updated anywhere. Most applications have a versioning feature, so users can track the changes that have occurred throughout the life cycle of a document.
  • Improved collaboration and workflow automation: With most applications, you scan paper documents into digital versions, which are then stored on the platform. The best programs improve your team’s ability to collaborate remotely and around the clock. They also offer workflow automation tools that make it easy to create, edit, review and approve any and all documents necessary to keep your business running smoothly.
  • Eco-friendliness: Document management systems offer tools to help you create and manage a paperless office. Rather than using multiple programs to handle the various stages of a paperless workflow, the software delivers all the functionality you need in a single interface.
  • Easy importation: Most applications include imaging tools that interface with your scanner, enabling you to scan and import documents directly into a central document repository. In addition to scanning paper documents, many systems let you import most types of digital documents: PDFs, word processing files, spreadsheets, image files and many other file formats. Once a document is imported into the system, it’s stored in a data repository that can be made accessible to others in your office and, in many cases, individuals outside your office.

How Many Types of Document Management Software Are There?

There are several types of document management systems you may encounter, including:

  • Content Management: This system focuses on creating, organizing and publishing digital content. It is typically used for websites, intranets and digital publications. Content management systems enable collaborative content creation and provide version control features.
  • Workflow Management: Workflow management software automates and tracks document-based business processes. It routes documents to appropriate people for review, approval or action. This system helps streamline operations and improve overall efficiency in document handling.
  • Records Management: Records management systems manage the lifecycle of official business records, ensuring compliance with legal and regulatory requirements. These systems include features for the retention, disposition and secure archiving of important documents.
  • Document Imaging System: This type of system converts physical documents into digital format through scanning. It often includes optical character recognition (OCR) technology to create searchable text. Document imaging systems facilitate the storage, retrieval, and distribution of digitized documents.
  • Information Management: Information management is a broader system encompassing various aspects of data handling. It focuses on organizing, storing and retrieving all types of information within an organization. These systems often integrate multiple tools to provide a comprehensive solution for managing information assets.

Most of the document management systems on our best picks list combine the features of more than one of these types of systems. The very best are capable of performing most, if not all, of the tasks outlined above.

How Much Would Document Management Software Cost?

Pricing for document management systems varies greatly depending on several factors. The hosting method you choose can significantly impact the pricing.

Cloud-based document management software is generally based on a monthly subscription rate. Cloud-based solutions typically cost $15 to $200 per user, per month. Monthly subscriptions are based on a per-user-per-month model, so the number of users you need greatly influences the total cost.

On-premises solutions require a one-time fee upfront, plus an annual subscription for software updates and technical support. On-premises solutions generally average $1,000 per user. In addition, you’ll pay setup fees and an annual service subscription for software updates and technical support, which is generally about 20 percent of the initial cost.

Some companies offer a hybrid model that blends on-premises and cloud-based solutions.

FYIDid you know
Many document management systems offer multiple tiers with different features for organizations with differing levels of need.

How to Choose Document Management Software

To choose the best document management system for your business, consider the following aspects when researching the market. Once you’ve identified a handful of platforms that may be suitable, be sure to schedule live demonstrations, ask scrutinizing questions of representatives and test out free trials to get a better sense of how each software works.

To best understand what should be prioritized, we spoke with business owners and leaders about the process they went through when choosing document management software.

Consider pricing and overall value

When evaluating pricing and subscription plans, think about more than just the sticker price. While it might be tempting to choose the cheapest option, think instead about overall value — which platform provides the most bang for your buck? Make sure that you’ll have access to everything you need at a cost-effective price point, even if that isn’t the lowest price you encounter on the market.

“Affordability must be balanced against the need for scalability. Most companies simply want the cheapest option, but this could be a short term benefit when such companies expand,” said Cache Merril, founder of Zibtek. “Search for a structure that provides flexibility in pricing without any hidden costs.”

Evaluate usability and set up

Document management software that is difficult to set up and hard to use isn’t going to be very helpful. Take the time to select a platform that you can get up and running quickly and that requires minimal training for your staff to use effectively. Picking user-friendly software with an easy set up and implementation support means minimal disruption during the implementation phase.

“In case the software is not easy to use, or if the user has to go through rigorous training, this would most likely affect the usage. Look for a solution which the employees can start using immediately with short training,” Merril said.

Take customization and flexibility into account

Document management software should be flexible enough to adapt to your business’s workflow and unique needs. Custom filing processes and metadata structures are a must, for example. Consider also how a platform lines up with the needs of a business in your industry — can it meet expectations or is it designed for another type of business?

“Choose a solution tailored to your industry’s specific needs,” Anthony Perera, founder and CEO of Inspected, told us. “For contractors and municipalities, look for software that understands the nuances of the permit process. Prioritize ease of use and robust security features. Don’t underestimate the importance of good customer support and regular software updates.”

Determine customer service quality

It’s normal to encounter problems with any business software, and document management systems are no different. That’s when responsive, helpful customer service is crucial. Be sure to investigate a company’s reputation for customer service before purchasing their solution. A company with good customer service can make the difference between a minor issue and a major catastrophe.

“It is very important to provide responsive customer service. It could be in the form of live chat, phone support or a detailed help center,” said Chris Dukich owner of SaaS company DisplayNow. “Reaching for help can save a lot of time in case of technical problems or during onboarding.”

Mind security measures

Document management systems almost always house sensitive company data or customer information. Ensuring that data is protected is critical for avoiding data breaches and running afoul of regulations. Always closely inspect the security measures a platform employs to make sure your data will be secure.

“Do not forget about security and compliance features to avoid any waivers to the client’s breach of trust especially if you deal with sensitive information,” Dukich said. “Ensure that such systems meet regulatory gates such as GDPR, HIPAA, SOC 2.”

What Are the Features to Look For in Document Management Software?

Here’s a closer look at some of the core document management software features we looked for in our best picks:

Search

A search tool lets you quickly and easily filter documents stored in the software. Most search functions include the ability to sort by date created, date edited and a variety of metadata tags, which can be applied to a document upon upload or any time thereafter.

M-Files features

Search and retrieve files quickly with a document management software app. (Source: M-Files)

OCR

OCR automates the process of metadata selection and streamlines searchability even further. OCR turns text from paper documents into searchable text once a file is digitized. Software with an effective OCR tool makes it even easier to organize and sort your documents.

File upload

Most document management software offers multiple ways to upload files, including importing them from another database or scanning them in from a compatible scanner or printer. Once uploaded, documents can be affixed with unique metadata to help organize them for easy search and retrieval later on.

File cabinet navigation

Many document management software employs a file cabinet style navigation. This includes an organization structure that follows a cabinet/folder/file system, similar to the one employed by Windows File Explorer. This system makes it easy to organize documents and locate them quickly, even without using the search function.

Versioning

Version control, or versioning, is critical to safeguarding and tracking editable documents within a document management system. When documents are regularly updated or changed, versioning allows you to keep track of old versions and quickly identify new ones. Minor changes, such as light proofreading, can often be identified by a minor version update (often displayed as “v 1.1”). More significant changes will be denoted by a major version update (which could be displayed as “v 2.0”).

TipBottom line
In most systems, version control limits editing access of a given file to a single person at a time, forcing other users into read-only status until editing is completed, which prevents confusion. In some systems, you can set a notification to alert specific users when a file has been edited.

Workflow automation

Workflow automation allows users to assign tasks related to specific documents to other users of the system. Users are then notified that action is needed from them on a particular document. They can then pass off the document to another user once their task is complete. Workflow automation tools can be set up to automatically trigger notifications for documents that follow a routine step-by-step workflow.

Security

Security features are essential to preventing an organizational data breach, especially for businesses that store sensitive customer data or trade secrets. Security features, such as encryption, vary depending on the document management solution. One common security feature, though, is an audit log, which keeps tabs on every single activity performed in the software.

Dropbox dashboard

Gain full control over document distribution, access and security with a document management service. (Source: Dropbox)

Mobile access

Many applications come with a mobile access component. As remote work increases, mobile apps or mobile web browser access is an important element of document management software for many companies.

How Do I Implement Document Management Software Within My Business?

The implementation phase comes once you’ve determined which document management system is right for your business — and it’s especially important to get it right. Proper implementation means a minimally disruptive process that leaves you with an efficient system that matches your workflow.

So, how can you ensure you get implementation right and set your team up for success? Follow these steps.

1. Identify an implementation leader or liaison

Name someone on your team to take point when it comes to all things implementation. If you’re managing implementation internally, this person must have the technical skills required to configure the system. If you’re working with an implementation specialist from the provider’s side, this person may not need technical skills but will instead serve as a liaison. They should be highly organized and communicative, as they will be the linchpin between your business and the document management system provider.

2. Review your existing filing system

Before you can adequately set up your new document management system, you need to understand how you currently file your documents. If you’re using a document management system already, consider whether the metadata is portable into the framework of the new platform. If you’re digitizing paper records for the first time, ask yourself how you can create an effective structure within the new system.

When establishing a new filing system, organize your documents so they are easily searchable and retrievable. Ask yourself which departments will access these documents and how they will use them. Then, create a filing system around these practical considerations.

3. Migrate data or digitize documents file by file

The task of migrating data from an existing document management system or digitizing your paper records may seem tedious, but it’s important to take it file by file. By carefully taking inventory of every record you’re uploading into the new system – confirming the accuracy of existing metadata and affixing relevant tags along the way – you’ll ensure your archive is accurate, navigable and useful once the new system is up and running.

Look at this step as an opportunity to clean up your archives. You can sort documents in a new way and streamline the way your business keeps its records. After you’ve taken a complete inventory of your records, you can delete any duplicate or unnecessary files – but be sure to triple check before you do so!

4. Record your standard operating procedures (SOPs) for record-keeping

Now that you’ve reviewed every document your business owns and established a sensible filing system, make sure you document the SOPs for creating and archiving additional documents moving forward. Your new system is only effective if your team adheres to it in the future, so make sure they have documentation to reference.

The best part of this step is your new document management SOPs can be stored directly within your document management system. That makes these guidelines easy for anyone to reference when needed.

5. Review documents within your new system

Once you’ve migrated your data, digitized your paper records, set up your new filing system and recorded your SOPs, review your archive in your new document management system. Ensure that everything is stored in the proper place and is accessible by the right team members. Check roles and permissions to ensure no one has access to any documents unless they need it — especially sensitive information like company financial statements or customer payment information. Make any final adjustments you need.

What Are Some Alternative Document Management Software Platforms?

In addition to the five document management software packages reviewed above, the following vendors’ platforms are excellent and you should consider them for your shortlist of suppliers.

isoTracker

isoTracker uses a Windows-based file structure, which makes it easy to navigate. It utilizes several drop-down menus that make inserting and categorizing documents a simple process. The cloud-hosted software provides users with a centralized document repository, valuable workflow tools and automated notifications. It also includes integrated analytics and reports.

isoTracker offers multiple support channels customers can reach out for help on including phone support, online contact forms and live webchat.  We were also impressed with the video guides, which give users step-by-step instructions on how to use the software. They cover topics like how to add new documents and check in a new document version. There is a 60-day free trial to test the system before committing.

Canon

We were impressed at the robust set of security features Canon has built into its intuitive and flexible document management software platform. The technology underlying this is imageRUNNER ADVANCE DX,, specifically designed to maintain data confidentiality, accessibility and availability to the highest standards. Canon’s system allows companies to assign different roles and strictly limit what documentation and associated data is available to people within given roles. The platform also features multiple authentication gateways, including One Login, Azure Active Directory, OKTA, and Open ID. This is great for enhanced security and streamlined access management. We also liked the addition of McAfee’s Embedded Control and Canon’s Intrusion Detection System tech to the platform that continuously monitors for threats like unauthorized access and data breaches.

Kyocera

The intuitive Kyocera dashboard makes it easy to create automated workflows to fit in with or improve your current business processes. We loved the Kyocera Cloud Information Manager (KCIM), a smart tool that reads extra characters from scanned documents with one-click indexing. The file routing is first class and ensures that the right document reaches the right person with the correct access permissions, without the need for manual intervention. Finding and retrieving documents is quick and easy thanks to the platform’s smart management solution. We were impressed with the versioning feature on the Kyocera system, which keeps track of document changes and allows colleagues to see comments. The Kyocera Enterprise Information Manager (KEIM) uses REST API to integrate with third-party platforms for seamless data exchange, ensuring everyone in the business is working from the same data and document resource.

Dropbox

While many document management platforms have created cloud-based versions of their software, Dropbox was built from the ground up as a remote solution.  The platform’s business version enables automatic document synching to all team members and their devices. We like how designated managers can create mobile offline folders to access important documents without an internet connection and perform remote account wipes to manage connected devices, wherever they are. We were impressed with Dropbox’s eSignature tool, which allows team members to create signable documents in just a few clicks and recipients to return them just as quickly. Dropbox offers a free service, so you can test it before committing.

Methodology

To determine the best document management software on the market, our team of technology experts and software analysts evaluated an initial list of 72 systems. We narrowed this list down by evaluating pricing and plans, the list of available features, implementation and customer support, and online user reviews.

After whittling our list down to 10 candidates, we scheduled live demonstrations and accessed free trials to test out each platform firsthand. Our experts and analysts studied each program’s functionality and evaluated the products on more than 25 factors. Ultimately, we chose five document management solutions as our top recommendations.

These factors were weighted differently in our overall conclusion. The weights were determined based on how much business owners prioritize these criteria when shopping for business software and services and making purchasing decisions.

  • Pricing (30%): Our experts and analysts compared and contrasted each vendor’s plans, judging which packages offered the best bang for your buck. They took into account costs for cloud-based versus on-premises systems, per-user fees, setup charges and price increases for greater storage capacity.
  • Features (25%): We looked for standard document management functions like file organization, file sharing, document editing, automated workflows and optical character recognition.
  • Ease of Use (20%): We tested the software ourselves, gauging each solution’s learning curve, user-friendliness and customization options. We also considered whether there were e-signature capabilities and mobile access for managing documents on the go.
  • Customer Service (15%): We evaluated the range of customer service options, including whether phone assistance was provided with all package tiers. We also examined each vendor’s online resources for businesses interested in self-guided help.
  • Integrations (10%): We also assessed the available integrations and awarded extra points for advanced services, like AI tools that analyze documents, ensure legal compliance and detect security threats.

Based on these criteria, we not only determined which document management systems our readers could trust but also the ways in which each solution could best serve different business needs. Some programs were better at certain tasks than others or more suited to a particular type of company. These takeaways informed the “Best for” use cases you see on this page.

To learn more about our methodology, see our full editorial process.

FAQs

Yes, many document management systems offer data extraction capabilities, often using OCR and AI technologies to pull structured information from documents.

Documents are typically stored digitally on secure servers, either on-premises or in the cloud, with backups and access controls in place.

Yes, AI tools are increasingly being integrated into document management software for tasks like automatic classification, data extraction, and intelligent search.

What to Expect in 2024

In 2024, document management software will continue moving to the cloud and away from the on-premises model. While the on-premises model, which allows companies to maintain the software and data on-site in local servers, grants additional control to businesses, it requires a significant upfront capital investment and a team of experienced IT professionals to maintain.

Cloud-based models are more affordable and require little maintenance, putting the burden of ensuring uptime and security on the software provider. For this reason, many businesses have opted for a cloud-based model, and software companies offer several types of subscription-based document management plans. Look for this trend to continue in 2024.

In addition, the expansion of document management software within mobile platforms will continue. As many workers continue to do their jobs remotely, they need to access shared documents on their smartphones, tablets and laptops. Software vendors are increasingly launching apps or enabling usage of their solutions via mobile web browsers.

The document management software industry is experiencing steady growth. Fortune Business Insights’ market research suggests the industry will grow from $6.23 billion in 2023 to $18.97 billion by 2030, representing a 17.2 percent year-over-year growth.

Much of this increase in value is driven by the rise in AI-based solutions. Many document management platforms can now automate workflows and processes, from categorizing documents to extracting and finding relevant data. Businesses can also leverage AI within document management systems to analyze broad data sets, identify patterns and predict trends.

AI-powered solutions can also automatically detect potential threats, encrypt files and prevent unauthorized access, as well as keep document management software in compliance with regulatory requirements. We expect that, with technological advancements, the capabilities and adoption of AI in document management will only grow in 2024.

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Written By: Adam UzialkoSenior Editor & Expert on Business Operations
Adam Uzialko, the accomplished senior editor at Business News Daily, brings a wealth of experience that extends beyond traditional writing and editing roles. With a robust background as co-founder and managing editor of a digital marketing venture, his insights are steeped in the practicalities of small business management. At business.com, Adam contributes to our digital marketing coverage, providing guidance on everything from measuring campaign ROI to conducting a marketing analysis to using retargeting to boost conversions. Since 2015, Adam has also meticulously evaluated a myriad of small business solutions, including document management services and email and text message marketing software. His approach is hands-on; he not only tests the products firsthand but also engages in user interviews and direct dialogues with the companies behind them. Adam's expertise spans content strategy, editorial direction and adept team management, ensuring that his work resonates with entrepreneurs navigating the dynamic landscape of online commerce.
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