What Is Document Management Software?

What is Document Management?

A Document Management System (DMS) is an electronic library of documents. The system captures details of the document – who wrote it, who can see it, who can change it, who has changed it, and where and how it can be found. If documents are to be shared internally or externally, then the system manages and audits those tasks. Document management software helps businesses with regulatory compliance and audit requirements.

Document Management Software Reduces Costs

Many of the financial benefits of document management relate to making staff more efficient, improving project coordination through collaboration, reducing time spent searching for or duplicating information, and improving the quality of decision making. There can also be benefits from improvements to the workflow process – speeding up document routing, shortening cycle-times, preventing delays and errors while improving customer satisfaction. Document management is most beneficial when it replaces paper-based document-driven processes.

  • Reduced printing and photocopying
  • Less postage and stationery
  • Frees up cabinet floor space
  • Find things faster
  • Avoid temp costs for filing and shredding
  • Faster and cheaper audits
  • More efficient processes
  • Better decision making with improved business insight

The average company could realize performance benefits of 49% by employing best practices in document management. – Aberdeen Group

Document Imaging

With document imaging, your paper documents are scanned and stored in a database. The document imaging application may also include processing such as optical character recognition (OCR), converting the document to a PDF, or making the scanned document available for workflow processing.

Intelligent Data Capture

The Intelligent Data Capture (IDC) system learns to recognize, classify, extract key index information, and automatically route to appropriate document workflows for review and approval. Your teams can process large volumes of documents such as inbound delivery tickets, invoices, and sales orders from a wide variety of vendors and customers using your business rules.

Content Management, Storage and Retrieval

Employs content storage as well as document management functionality such as the ability to create folders/subfolders, check in/out, audit history, and other basic document management functions. Instant search and retrieval of content through indexing of metadata is the chief benefit for the everyday user. Administrators can assign security privileges such as edit or view only to users and security may be at the site, file folder, document level. Integration with other applications via an API is also available.

Automated Workflow

Workflow enhances existing document driven business processes, improving productivity and business process insight. Benefits emerge quickly as documents and other business content are directed automatically to the right place at the right time with email notifications — simplifying collaboration and improving efficiency throughout your organization.

Electronic Forms

Paper forms that are scanned or re-keyed into your database cause loss of data, efficiency, and profitability. Fillable PDFs help bridge the gap between paper and true e-forms, but without real-time workflow integration, you’re missing out on a truly paperless process. With eclipse Forms, easily create custom electronic forms with drag & drop technology – no need for IT, complex coding or expensive 3rd party resources.  Your teams can access eclipse Forms on any device and integration with your existing line of business software allows for automated notifications of workflow assignment to ensure faster, more efficient processing across every department.

Records Management

This aids an organization in its retention and document destruction requirements throughout the entire document life cycle. Create rules to govern storage, retrieval, distribution and destruction of all your digital documents. Users can easily generate reports showing where documents are in their life cycle and what documents are eligible for retention, transfer or destruction. Records Management promotes regulatory compliance with Sarbanes-Oxley, HIPAA, SEC and other regulations.