Document management plays a huge role in keeping information organized, available, and accessible. It is essential to the smooth operation of teams, enabling them to retrieve information quickly, collaborate seamlessly, reduce manual errors, and accelerate decision-making.

How can document management solutions help?

There are many ways organizations can benefit from using a document management solution. It can address problems like cluttered network drives, disorganized databases, or siloed desktops, which cause delays, hindering efficiency and productivity, thereby affecting business continuity.

By leveraging a document management solution, teams have increased transparency across the enterprise. All documents are organized, indexed, and kept in a centralized system. Everything is searchable for fast retrieval, stored properly to avoid confusion, and backed up for disaster recovery.

Looking to implement a new document management system in 2024? Below we've outlined the top 5 best options to consider based on features and more.

1 DocStar

Overview

DocStar provides enterprise content management and automated accounts payable solutions, empowering teams to gain control over documents, improve retention, and increase efficiency. It integrates seamlessly with any third-party business application to streamline processes, reduce costs, and provide unified business insights from one powerful platform.

DocStar uses intelligent data capture, artificial intelligence, and machine learning to classify documents and submit them to the right processes, eliminating manual data entry and reducing the risk of errors. Customers can deploy DocStar on-premises or in the cloud, which minimizes storage costs and increases team efficiency and productivity.

DocStar is easy to implement and use, evidenced by the many awards and 5-star reviews it has received since its founding in 1996. Named a Leader in SoftwareReviews' Enterprise Content Management - Enterprise Data Quadrant and Nucleus Research's Value Matrix, DocStar is redefining industry standards. With increased investment in capabilities like automation, collaboration, and artificial intelligence, DocStar continues to push the boundaries of innovation in the ECM space.

Over 2,000 organizations across industries trust DocStar to streamline workflows and improve efficiency. Its smart document management and automated AP solutions centralize storage and access, saving significant time. Teams and organizations can securely share and retain key documents from anywhere in the world, on any desktop or mobile device, with this affordable software solution.

Features

Process Automation

DocStar keeps business activities organized with its workflow module. It automates tedious business processes like work orders and travel and expense reporting. It contains built-in graphical workflow design tools for easy configuration and updates.

Teams can create custom rules to process and route content or documents for approval. They can also distribute items automatically based on established business conditions. DocStar sends out real-time alerts to signal members of updates or changes. Everything gets displayed on the workflow dashboard for progress monitoring, with integrated security and audit trails to keep track of user activity.

All documents are directed automatically to the right place at the right time, making collaboration seamless for increased team productivity and business efficiency. Organizations can also extend the business process automation to smartphones, tablets, or notebook devices so members can instantly access key information and participate in content workflows, even when they're off-site.

Automated Accounts Payable

DocStar simplifies the accounts payable process through automation. It utilizes intelligent data capture to extract, classify, index, and route key data from documents, performing two and three-way matches to eliminate errors automatically.

Teams can also streamline the entire process with electronic forms and signatures. These digitally signed forms are legally binding, ensuring security and compliance while eliminating paper, printing, and storage costs by up to 70%.

Human Resources Automation

DocStar also simplifies the management of employee records through human resources automation. HR teams can automate recruitment and onboarding, succession planning, compensation, and employee benefits.

It also consolidates all paper, printing, faxing, and filing, reducing the workload of HR professionals from dealing with outdated paper-bound workflows and systems. They can manipulate, analyze, and retrieve documents with just a few clicks, setting user permissions so they can't be tampered with.

DocStar contains all the necessary features for teams and organizations to manage and secure their documents. It can enforce document retention policies, organize all information in a secure, central repository, and protect data with encrypted communication. Companies can leverage the document management solution to reduce costs and improve efficiency across teams so they can perform better with improved visibility while adhering to regulatory compliance requirements.

2 Square 9

Overview

Square 9 is a leading document processing platform that leverages AI for intelligent document capture, search integration, and business process automation. It can extract information from scans or PDFs and store documents in a searchable archive. It drives out paper-based inefficiencies in core business functions.

More than 3000 organizations trust the document management solution of Square 9, simplifying the digital transformation process to take the paper out of work and the problems it causes. It has a proven track record, with 5-star reviews across platforms like G2, Capterra, and TrustRadius. It has become a trusted name in the industry.

It also provides top-notch customer support, evidenced by its satisfied customer base and an average response time of 30 minutes. It offers scalable solutions to accommodate the ever-changing document management needs of organizations, fit for organizations of all sizes and industries. They are made available in the cloud or on-premises. It is also praised by industry experts and recognized for its unique strengths, with a commitment to constantly innovate, leveraging the latest technology to improve and introduce new features.

Features

Company-Wide Access

Teams can spend less time searching for important files. Square 9 features a GlobalSearch ECM that streamlines the process so users can effortlessly access the information they need with just a few clicks.

Advanced OCR technology

Square 9 can automatically recognize different document formats and apply the correct data extraction rules. Users can also create new extraction rules by using its design wizard tool.

Integration

It offers seamless integrations with a wide range of applications, from popular productivity suites like Microsoft Office 365 to specific industry software like QuickBooks.

Advanced Search Capabilities

Square 9 possesses advanced search capabilities, empowering teams to make better decisions in real time as they can quickly access critical content across different applications in one platform. It can narrow searches with multiple index fields, increasing the accessibility of documents.

Workflow Automation

Beyond indexing and archiving, Square 9 can automatically clear documents past their mandatory retention periods. It can also route them through revision or approval processes.

Security & Auditing

Square 9 is HIPAA and SOC 2 certified. Organizations can trust that critical assets are safe and secure. Proper controls and audit measures have been implemented for compliance. It also encrypts data in storage and transit, ensuring company information is only readable to authorized users.

Square 9 can improve organizations' bottom line with its ability to automate manual processes, minimize storage needs, and reduce file documentation costs. It can connect all information systems so teams can retrieve any information they need to work efficiently, driving productivity with improved employee morale.

3 OpenText

Overview

OpenText can capture, store, and track the lifecycle of electronic documents. It connects information from across the enterprise, ensuring rapid access whenever it's needed. It bridges isolated process siloes through full integration with leading applications like SAP and Microsoft.

It offers a simple, responsive user interface with role-based views, securing access to prevent compromise or revisions from unauthorized users. Customers can choose from flexible cloud models, whether public or private and even opt for hybrid deployment to manage and protect their critical assets.

It can capture documents and data from paper or electronic files, transforming them into digital content and improving employee productivity and corporate agility. It can mitigate compliance risks with retention policies without end-user intervention.

Features

OpenText has enterprise-caliber, leveraging Oracle 11g R2 and RAC databases to deliver an extreme performance. It is the ideal platform for content and document-rich applications. It can manage any type of electronic document.

Users can organize them within three types of workspaces: Enterprise Workspace, Project Workspace, and Personal Workspace. They can also apply custom metadata for faster retrieval and generation of reports. In addition, they can also email documents to and from the repository by assigning a unique email address to the folders.

OpenText also tracks document usage, providing a list of the most highly rated documents, most recent, and frequently accessed. It features a Workflow Designer tool for automating document management processes like change requests, document review, and approval processes, ensuring they are done consistently and accurately.

OpenText offers nine levels of permissions in the repository, so users can fine-tune the type of access they can give to different members based on corporate policies. It also automatically records the time, date, and performer of every type of event for auditing.

It contains check-out and check-in functions to control and manage document versions, preventing multiple authors from overwriting other people's work. Overall, it is a comprehensive solution for managing and securing documents.

4 M-Files

Overview

M-Files is the leading platform for knowledge work automation, helping users organize information, understand the context of documents, and interact with knowledge using natural language. It can eliminate information chaos, making electronic files more accessible across the organization, regardless of the type.

Knowledge work refers to any task performed that involves exercising knowledge and creativity. It requires convergent and divergent thinking. M-Files can drive the thought process of knowledge workers by making documents or data readily available at their fingers, getting rid of distractions like manual searches that interrupt their flow state.

Features

M-Files is powered by its generative AI technology, Aino, which automates the entire knowledge work process from document creation and management to external collaboration, including security and compliance. It can automatically classify documents, ensuring they are secure, in line with business rules, and compliant with industry regulations.

M-Files can also automatically connect documents to any business context. Users can ask questions based on their data or request the platform to summarize or translate the content, making it easier to get knowledge for faster comprehension or decision-making.

The platform can also uncover critical data. Users can apply the appropriate automation to maintain control and mitigate risk. They can almost limit access through permission controls, preventing revisions of documents from unauthorized users. It also features advanced document comparison, which business users can leverage to analyze or review two documents or two versions of the same document for better insights into a certain topic.

Organizations can leverage M-Files to drive productivity. It makes information more accessible and available with the power of generative AI, bringing all the tools necessary for knowledge so they can maintain the mental condition of being in a productive and effective work mode.

5 Hyland's OnBase

Overview

Hyland's OnBase is a content services platform made to organize, manage, and optimize content, processes, and cases. It empowers organizations to become more agile and efficient, giving them a complete view of the right information when and where it's needed.

It gives visibility into the status of processes and documents. It also automates and supports retention requirements, minimizing risk from potential insider threats, as it creates a secure, protected environment for document management.

Features

OnBase can intelligently capture and process data from various sources. It automatically classifies and verifies them for immediate use, making information readily available. It can also automate processes with built rules and configurable workflows.

It also contains features for collaboration like version control, co-authoring, and more, so teams can securely share content and work collectively to achieve objectives faster. It can also display audit trails for monitoring user activity. Admins can also gain more visibility into the content with its interactive dashboards.

OnBase is also useful for case management. Users can leverage the platform to manage content and processes involving cases like documents, emails, and tasks for approval, compliance, and verification. They can also manage the lifecycle of information by automating the retention or destruction of documents and records, beneficial for the protection of mission-critical assets.

Conclusion

Documents are the backbone of operations. Thus, they require a centralized, secure location where they are accessible, safe, and useful for different teams. Take advantage of the top 5 best document management solutions in 2024 to reduce costs, meet compliance, and achieve document integrity. They can transform the internal process, yielding better results for user productivity and business efficiency.