The Best Document Management Software of 2023

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.

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”).

Did you know? 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.

Mobile accessibility

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.

Conduct market research

Document management software is a crowded field, so choosing a vendor can be difficult. The most basic software serves as digitization software and centralized document storage, while more complex systems allow for built-in collaboration and task management among team members. Research the market and read through customer reviews to identify market leaders.

Assess your needs

When choosing a document management system, it’s important to know what you need. Are you looking for a digital archive that can be periodically updated, or do you require software that enables daily creation and editing of new documents? Do you prefer a locally hosted, on-premises solution, or do you prefer a cloud-based solution managed by your vendor partner or a third party?

Regulatory compliance

Many businesses operating in regulated industries are required by law to track, maintain and audit business documents.

Among the document management solutions we reviewed, many comply with the Health Insurance Portability and Accountability Act (HIPAA), Sarbanes-Oxley, Good Manufacturing Practices required by the Food and Drug Administration, or ISO 9000/9001 regulatory compliance requirements.

This is a critical capability that many businesses cannot afford to do without. If your business is required to comply with federal regulations, it is critical to know which applications offer regulatory compliance support.

Integrations

If your business utilizes a top CRM application or an ERP database, limit your search to document management software that integrates seamlessly with the programs you use daily. While you can use software that doesn’t integrate with your CRM or ERP program, choosing compatible software allows you to access, edit, back up and monitor digital files and documents created within your CRM or ERP program, further increasing the efficiency of your office.

FYI: Most document control systems integrate with popular email clients, such as Microsoft Outlook, as well as business software suites like Microsoft Office.

Vet your options

Pinpointing what you’re looking for is half the battle, and asking the right questions will help you determine which system is right for your business.

Some questions to ask software providers include the following:

• What operating systems support this software?
• Is document imaging and digitization included?
• Are there any collaboration tools, workflow automation options or project management tools?
• How many file types does the software support?
• Is there a versioning feature for tracking changes to documents?
• How many users can access a document at once?
• What third-party software does the system integrate with?
• What level of technical support can I expect to receive?

Put everything in writing

As always, closely read any legal documents, including contracts, before signing. The vendor should put everything you’ve discussed in writing and specify which features you are getting for your money.

Always have an exit strategy in writing as well in case things don’t go as expected. If the service you’re considering won’t allow you to cut ties without paying cancellation fees, consider it a red flag.

• Increased security: Not only does document management software offer a better way to store, sort, search and access records, but 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 from anywhere in the world. 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.

What is document control software?

Document control software helps you streamline document management processes like review, approval, distribution, retrieval and disposal. Additionally, it automates records management policies to help monitor access and ensure compliance with standards such as ISO, FDA, Sarbanes-Oxley and HIPAA.

How do you manage files on your computer?

When managing files on your computer, create main groups and subfolders within those groups. Apply a single file-naming system to all your files so everyone in your organization can easily navigate them.

What are the benefits of record management?

Record (or document) management has several benefits, including increased security, centralized location for easy navigation and collaboration, and eco-friendliness

What are document management systems used for?

Document management systems are used for securely storing documents and sensitive data, tracking edits and updates to said documents, and easily sharing them between members of an organization. Additionally, these systems help companies ensure compliance with necessary standards.

How do document management systems work?

A document management system scans in the physical document or downloads a digital version via email or using other applications. Then, the document is classified with tags, keywords and metadata so it’s easy to find by those within an organization. From there, the document is organized into a centralized location/folder. Since many document management systems are cloud-based, members of an organization can access files from anywhere with an internet connection.