Best Document Management Software for Your Business
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Last updated: May 10, 2018
Home > Document Management
Last updated: May 10, 2018
TOP 10 Document Management Products
A Buyer's Guide to Document Management SolutionsDocument Management System Buyer’s Guide
Documents, hundreds to thousands of them, are what keep our business well-guided and managed on its everyday operation. Base on studies, in the last couple of years, about 7.5% of all the documents get lost. Is this true to your company? Another study says that 50% of every professional’s time is being spent on finding the files they need. Are you one of these professionals? Probably, these statistics are among of the reasons why Document Management System (DMS) is of critical importance to every business nowadays. For business’ sake, we do not want to loose our precious time anymore just to look for missing files.
Document Management System (DMS) is consisting of tools that allow you to organize, edit and distribute the important files and records into a central location. Document, in a business perspective, is more than an asset, indeed. When a document gets lost, that could be equivalent not only to revenue losses, but also office issues. This just reminds us that we need to protect our document in every way possible and a reliable DMS can be the best solution. Here is a Buyer’s Guide which we from ITQlick.com would like you to not only read and understand, but to also save in a reliable DMS so that more people in your organization can access them for future plans of buying a DMS solution.
When it’s about the method of deployment, DMS can be classified into four types. They are the web-based, client-server-based, database, and cloud-based. In selecting the right DMS for your business, it is of utmost importance that the ease of accessibility will not be sacrificed no matter where the documents are saved. Let’s examine more these types of DMS.
This type of DMS doesn’t require a software package that needs to be deployed in the client’s server. Via the internet or web browser, the DMS can be accessed right away. Most web-based software solutions can support multiple document management operations.
Such solution requires software package that needs to be deployed in the client network. This solution is known to be faster and more robust than a web-based solution. It also offers options for customization and integration with other management systems such as CRM and Accounting software.
This type of solution is usually integrated with database structures like Oracle systems and Microsoft SQL servers. It requires a higher level of design and implementation.
Using a host-server, cloud based solutions combined the features of web-based and power of cloud-computing technology. This solution is accessible via the internet and there is no need to install and configure software packages.
As the technology continues to evolve, so is the method of organizing, securing, and accessing our documents. Although this buyer’s guide is prepared to give you more knowledge and information about DMS, a chunk of idea about other types of management information systems such as File Share, Document Imaging System and Content Management System can give you some tips and hints relevant to buying data storage and retrieval systems.
When it comes to Document Management System solutions, the features are overflowing. Here are the attributes of a Document Management System that buyers like you must spend time with in-depth investigation and analysis before formally proceeding with the software acquisition stage.
- Metadata– tags that provides a short description of the captured document
- Integration– the ability to integrate with other applications and systems
- Capture – accepting and processing images of paper documents from scanners or printers
- Validation– visual validation registration system and important data
- Indexing– tracking and retrieval of document using unique identifiers and other forms
- Storage– covers document storage aspects such as size, location, duration/period, migration, and destruction
- Retrieval– retrieval from simple to complex form such as the use of metadata and unique identifiers
- Distribution– ensures that the format, quality, and integrity of documents prior distribution are in compliance with existing laws and protocols
- Security– covers security features such as document marking in compliance with data security measures
- Workflow– set of rules that controls the routing and handling of documents within an organization
- Collaboration– authority and access rights given to a user or group users
- Versioning– process of referencing or assigning labels to every document that are checked in and out of the system
- Searching– finding or locating of documents using template attributes or full text search
- Publishing– involves procedures that regulates the publishing of documents across different platforms or channels
- Reproduction– ensures that the quality or attributes of a document are retained or in acceptable format during storage and retrieval
Solutions per Business Size, per Vendor
The market for Document Management System (DMS) is big and the competition among players has been producing a lot of echoes in the industry. Among of the best players that offers traditional licensing or on-premise packages are Microsoft, IBM, Open Text, Autonomy, EMC, Oracle, NewGen, and Xerox. When it comes to web-based solutions, among of the up-and-coming providers are Dokmee, Eloquent Records, Doccept, LogicalDoc, Contentverse, PaperSave, and O3Space Workplace. Other providers that offer cloud-based solutions are M-Files DMS, PaperPort Pro, BlueDoc, and FileCenter Pro.
We at ITQlick.com have an excellent system in place when it comes to selecting the right DMS solution for business. Our experts will provide software solution recommendations that are based on the requirements of your business. For on-premise solutions, for example, here are the important things that our experts are taking into serious consideration prior recommending a solution.
- Level of Integration
- Scalability of the solution
- Role of Consultants/Implementers
- TCO/Upfront and Implementation Costs
- Concerns on Data Security
If there is one aspect to carefully look into when buying Document Management software solution, it’s the Total Cost of Ownership (TCO). What are the costs covered by TCO? They are the costs of software, services, support, and maintenance. Although there is no short-cut in calculating TCO, there are proven techniques that can give you the best estimate. Software cost can be easily determined from published pricing models on the vendor’s website or by simply asking for quotes. The cost of implementing on-premise solution has a significant value but in most cases, it is equivalent to around 50% of the software cost. Cost of support and maintenance largely depends on the planning and execution strategies of business owners. However, they are generally included in the complete solution package offered by the vendor.
When you check the published pricing models offered by different providers, the price of On-premise solution ranges from $100 to $1,250 per user. Cloud-based solution is relatively lower, from as low as $10 up to about $125 per month per user. For more information about pricing, you can ask our experts at ITQlick.com.
So where is the Document Management System industry heading on? First, many companies are moving their DMS into the cloud, particularly at SaaS. Although many companies are becoming more comfortable with web-based solutions, the client-server market still continues to progress.
The excellent functionality of workflow software solutions, which facilitates the management of the flow of engagement and document information through all of the different steps, will trigger a shift in information systems paradigm.
Also expect to see more DMS applications running on tablets, iPads, and other mobile devices.
DMS will continue to evolve to meet the standards and regulations (ISO, OHSAS, FDA, etc.) as they transition through 2015.
The success of cloud-based platforms not only for DMS but for other management information systems is a clear indication that vendors are really focus on extending the functionality of the systems they offer. What the market needs, DMS solution providers respond back with solutions that highly values consumer demand. A DMS buyer like you should never allow opportunities like these to just pass. Start identifying your needs and find the right DMS solution for your business today.
ITQlick chart - 2018 best Document Management Software
Finding the right Document Management software for your business
Proper Document Management software selections are the precursor to successful deployment and business growth. Finding the right Document Management solutions doesn’t have to be complicated, and it doesn’t have to take days or weeks of your time.
After researching over 2,000 systems, we can identify the best solution for companies of all shapes and sizes. ITQlick.com is 100% free for software buyers.
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25 MUST Ask Questions Before Buying Document Management Software
The prime purpose behind investing in the software solution is to boost efficiency and growth. Ask the software vendor (NAVEX Global) how their business app would improve efficiency of your enterprise.
PolicyTech has tremendous exposure to different companies. They offer the same type of software to different industries, so they are better aware of who is doing what with their technological product. This also helps them understand and foresee whatâ€™s really working. Allow them to share their observations so that you get an ideas about their experience, expertise, and intelligence. This will also be an opportunity to identify the service providers who come up with the most insightful suggestions.
Perhaps your business is growing, will expand in the future and your Document Management requirements with it. So you would be interested to know if PolicyTech is scalable and can grow with you. Itâ€™s no use investing in a solution that can be scaled.
Each business has different needs. Yours is no different. When it comes to selecting a software solution, you are looking for a tool that can be easily customized and configured to cater to your specific business needs. So you want to understand if PolicyTech you want to buy is easy to customize.
Such a community forum is the best way to engage users. Getting access to PolicyTech forums can help new or proposed users connect with product experts through peer-to-peer discussions.
PolicyTech should answer how their business software will improve your bottom line and ROI.Most service providers make tall claims, so you want to make sure you get your hands on the best solution.
Before choosing a business app, you want to understand that the implementation would be smooth. So you should be interested to find out about the person responsible for handling the implementation process. Do not hesitate to ask PolicyTech about their qualifications.
A good software vendor should be able to show you a positive track record with their implementation strategy.Try to find out if PolicyTech method is structured. Your purpose should be to look for one that is structured and flexible to adapt to unexpected situations.
The software vendor should give you a structured data conversion methodology that will enable smooth migration of your information to the new system.
A growing business is always in need for expansion and integration with thrid-party apps is a part of the growth model. When it comes to choosing software, make sure the business app provides an application programming interface for easy integration.
Ask the software product vendor if the tool will allow you to export data to an external file or import data from external sources.
Ask the software vendor (NAVEX Global) if the software package includes consulting hours. Do not hesitate to ask if there are any hidden charges involved.
You do not want to be caught unawares when a software vendor sends a technician to resolve an issue that may crop up due to varied reasons. You want to make sure the charges are reasonable. Better still, you should be aware of what needs to be paid to the technician sent by the vendor to fix a problem.
You do not want to fall in love with the front end unless you are 100% sure that the software is compatible with your existing system. Ask the software vendor is you need any specific hardware to install the software. Will the business application run on your existing workstations. How much space will the software take on the disk drive? Is there a need for RAM upgrade to successfully run the software for optimum performance?
You should enquire about the cost of having more than one terminal in your store. While some software vendors charge on the basis of the number of store locations, others charge per terminal.
When you are looking for a software solution, make sure you know if the vendor charges any fee to get you started. You should also be interested to know if there are any software maintenance charges for you to pay.
Your business is accountable to customers, regulators, employees, and partners. So you should look for one software vendor who has adopted a comprehensive, technically sound security and compliance program. Does the vendor map your needs for security controls?
Data loss can prove extremely risky for any business. So you should always ask the vendor about their backup policy. How often is data backed up and what is the cost for the same?
What is the software vendor's policy on disaster recovery? Are any charges involved for disaster recovery support if a catastrophic hardware failure affects your system?
How easy is the software to work on? Is it user friendly for your end users? Does it involve any complexities that are difficult to understand for the team? Even a feature-rich solution is of no use if end users find it difficult to use.
NAVEX Global should clearly mention whether the solution is complex or simple to use. If it is not an easy-to-use software solution, then do they provide training? What is the level of training your team requires to make the most of the solution?
You will be interested to know about the software updates. When is it updated? Does the service provider notify customers when the upgrades are scheduled? Does the software work when the upgrades are under way? How long does the process take?
You should be interested to enquire about how an issue is handled at the side of the software vendor. Do not hesitate to question about who will respond to your emergency calls. What is their experience in software industry?
If the software vendor is widely popular, chances are that they have a good product. So always check their client base to measure their product's competence in the market.
Testing is crucial to ensuring that the software runs as promised. So you should try to find out if the vendor offers any free trial runs or try before you buy the product. By testing the concept first, it gets easier to understand the software product's functionality and allay fears before signing a contract.