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Top 5 Document Management Services
November 16, 2021
Document management services are an important piece of software for businesses of all shapes and sizes. A digital document management system allows you to store and digitize business documents, as well as organize and tag them. Plus, it helps to keep everything safe from hackers and cybercriminals.
There are many different document management services available today. In this article, we’ll provide a look at the top 5 options and more information about why you should consider using one of these services.
Cloud document management vs cloud storage
Cloud document management is often confused with cloud storage on platforms like Dropbox and Google Drive. While they’re fine for rudimentary document storage, they lack the enhanced features of document management software.
Cloud storage platforms offer a limited amount of document control, don’t support certain file types, and they’re just not as secure. They also lack approval control, and they have poor support for compliance and reporting. This makes them less attractive for companies with workflows that require most, if not all, of that functionality.
Best document management software
There are numerous document management software options on the market. These 5 options offer the strongest blend of must-have features and affordable pricing.
M-Files is a streamlined document management system that aims to improve workflows and focuses on data security. The system itself was initially designed to work directly with Internet Explorer, but it works directly in most web browsers. This makes it one of the most user-friendly document storage solutions available.
Thanks to its extremely intuitive dashboard, M-Files allows you to sort through files based on tags. You can tag documents based on the client associated with the document, the document’s creation date, and even the document’s status.
The software will also tell you if there is a document with duplicate text, making it easy to delete redundant files. There are several key integrations, too, including Microsoft Office 365, Salesforce, and Google Workspace.
Cost: M-Files doesn’t list its pricing information. You must contact the company to receive a customized quote based on estimated usage.
Templafy launched in 2014 and is one of the newer document management systems on the market. It’s focused on enterprise-level companies and includes features to help streamline your file management processes.
Templafy uses intelligence software, which allows it to automatically display content that’s relevant to a team member's role. For example, it will serve financial documents to the accounting team, and sales templates to the sales team. It also allows you to create documents directly in the program, eliminating the need to constantly create and upload new documents through other software.
Templafy has various integrations including Salesforce, Microsoft Office 365, and Google Workspace. It also boasts a great mobile app that allows you to access your documents from anywhere.
Cost: Templafy provides custom pricing for each company. You need to speak to their sales team for a custom quote.
PaperTracer is a document management solution focused on small to mid-sized businesses. While it has limited collaboration features, it boasts an array of functionality including asset management, clinic management and HIPAA compliance, employee onboarding, and contract management.
PaperTracer also allows you to capture data, not just documents. This makes it an excellent option for companies that work with various file types beyond traditional docs and PDFs.
Cost: PaperTracer offers different price points for Small, Midsize, and Enterprise options. You need to contact the sales team for a pricing estimate for each option.
4. Rubex by eFileCabinet
Founded in 2001, eFileCabinet is one of the oldest brands in cloud-based document management. The company launched Rubex in 2019 with remote work in mind. In fact, it allows remote employees to log in from any device with internet access while enjoying the same level of search and document retrieval functionality as an office computer.
Rubex does have more limited storage capacity compared to its competitors, unless you upgrade to the Unlimited plan. It integrates with Microsoft Office 365, Salesforce, and DocuSign, which allows you to create unlimited electronic signatures. It also has open API integration, which allows you to integrate your own tools within Rubex.
Cost: Rubex offers standard pricing options in their three tiers
Advantage: $55 per user, per month (three-user minimum)
Business: $99 per user, per month
Unlimited: $199 per user, per month
DocuWare is an excellent option for cloud-based document management, and it directly integrates with cloud storage solutions to deliver a comprehensive digital workspace. It also stands out because it allows you to edit and annotate documents within the platform. Plus, you can automate specific tasks for important business processes, such as invoice management, employee management, and sales and marketing efforts.
DocuWare uses a process called “cloud workflow,” which allows you to add services based on need. That way, you don't have to pay for features you’ll never use.
DocuWare has an excellent mobile app, too, and it’s directly integrated with that cloud workflow. This helps with every part of the process, including carrying over signatures and approvals from different workstations as well as creating and sending invoices within the platform.
Cost: DocuWare asks you to contact them for a custom quote based on the services, amount of storage, and number of users you need.
5 reasons to use document storage services
There are many reasons for a company to use document management solutions for its document storage needs. Using one of the above platforms saves time, keeps your documents safe, and makes everything accessible to your team.
1. Storage and collaboration
It is a lot easier to access and collaborate on documents when you use a digital document management system. It allows you to access files from different sources within the document management software. Plus, team members can more easily share documents with features like document digitizing and annotations. This also helps to better optimize business processes and create better workflows, because your team can collaborate directly within documents.
2. Mobile functionality
Any document management system worth your time will have a streamlined web interface that works just as smoothly on mobile devices. This makes it easy for users to share large sets of files securely via their mobile devices through a secure portal. Mobile functionality like this isn’t just convenient; it also helps in case you need to share or edit documents when you’re away from your desk.
3. Compliance and security
Maintaining compliance with certain document types can be challenging. Non-compliance can lead to fines, revocation of business or medical licenses, and even criminal liability in some cases. Federal and state regulatory regulations bodies often mandate strict guidelines for security and privacy reasons.
With a document management system, you can reduce the possibility of non-compliance by securely storing all of your documents and easily checking them for compliance.
4. Approvals and signatures
It’s not as easy as it sounds to get documents approved and signed by all of the involved parties. To do it properly, you need a legal team to review the documents and you need the ability to sign documents remotely. Otherwise, the process becomes a mess of printed documents, potential re-prints for revisions, and waiting around until the document is delivered.
With document management system software, you can speed up and simplify that timeline. You can also implement version control to make sure approvals and signatures occur on the right document.
5. Integrations with other platforms
The best document tracking system can easily integrate with other software solutions, so you and your team can access the information you need. As an example, let’s say your document control software integrates with your CRM. This allows you to transfer customer reports and data, then create documents to track the efficacy of your sales efforts – within the same document management solution.
Many document management services feature open APIs so you can integrate the software of your choosing.
Document management services are important for companies and employees of all kinds. If you manage different types of documents and don’t have a way to securely handle them right now, a document management system may be the perfect solution.
For businesses with a lot of documents to sift through and various departments that need to access them, Templafy is a strong choice so you can automatically pull relevant documents for specific employees. For a no-frills solution that will fit seamlessly into your organization, Rubex by eFileCabinet is an excellent document management service to consider.
About the Author: Daniel Horowitz is a contributing writer for HP Tech Takes. Daniel is a New York-based author and has written for publications such as USA Today, Digital Trends, Unwinnable Magazine, and many other media outlets.
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