Best dms software is still a very important part of daily workloads of many companies and managers. First, there are existing processes that need to be documented at the earlier stages of implementation. Software used for such documentation might be different from the one needed to manage documentation after their implementation.
I’ve been managing software documentation for a few years now. And it hasn’t always been easy. There are so many variables to think about when you are determining the best software management software or tool. You want to find something that is going to work for your team, and also integrate with other popular tools like chat platforms or issue tracking.
This means that instead of having to keep paper in clunky file cabinets, documents can now be stored securely online. However, it’s not just about archiving information as much as making the whole process of document management easier, covering everything from branded templates, improving workflows, working with collaboration tools, as well as being able to sort through sometimes technical information. And that’s on top of general document editing and management tasks.
Good document management software (DMS) also has to be able to work with different digital file types, not just from office software, but also note-taking apps, technical plans, images and designs, and anything else you could imagine previously being printed on paper, including from legacy file formats. These days it will also cater for esigning software for documents.
Document Management Software Costs
Document management software can vary widely in pricing and cost structure. The first and perhaps most important factor in the cost of your document management system is whether you select a cloud-based or on-premises version.
Cloud-based software takes the infrastructure maintenance and burden of security off your business and places it with a third-party company. While this reduces the expense and challenge of managing it in-house, you’ll just have to trust that the company is handling your data properly. Cloud-based software is typically paid for on a subscription basis. For most document management software, this could range from $15 to $200 a month per user, depending on the complexity of the solution you choose.
On-premises versions of document management software require your own servers and, generally, a dedicated IT staff for maintenance. Your business is wholly responsible for the security of your data, but this also means you have full control over your own data. With on-premises solutions, you generally have to purchase a license for each user. Each license can cost $1,000 or more, but it is a one-time fee. However, on-premises solutions typically charge an additional fee for technical support and software updates after the first year, which is usually about 20% of the initial licensing cost.
For small businesses looking for software that is easy to manage and not a large overhead expense, we recommend a cloud-based solution. However, make sure your provider adheres to best cybersecurity practices to protect your data.
The actual price for document management software varies by company. Obviously, systems with more complex features tend to cost more, while costs for basic document management software without extra features (such as task management tools and workflow automation functions) can be pretty low. Also, the more users you add to a cloud-based system, the higher the monthly subscription price will be.
M-Files
- Free for 30-days
- Customized pricing
- Industry-specific solutions
- AI technology
M-Files offers the future of document management. The software leverages AI technology to automate your organizing process.
When you upload content to M-Files, the platform automatically organizes the data based on what it is, as opposed to just where you want to store it.
Protect your information by connecting your existing network to M-Files’ AI, automatically and securely.
Another top benefit of M-Files is that they offer industry-specific solutions. Some popular industries that they service include:
- Financial services
- Construction and engineering
- Oil and gas
- Real estate
- Manufacturing
- Professional services
M-Files is great for larger teams that need to access documents at different times. If someone on your staff needs a file that was uploaded and saved by another colleague, they won’t need to search through different folders to see what the document was saved as.
With AI technology, all you need to know is what type of document you’re looking for. Then you can organize the content based on criteria like project title, author, customer, or expiration date.
It automatically detects duplicate content and updates the latest document to one singular file. This way you always know that you’re viewing or working with the latest version.
With M-Files, you can store a wide range of document types, including emails. The software also allows you to collaborate with external users who don’t have M-Files. That content can be shared as a secure link.
M-Files offers cloud storage, on-site storage, and hybrid storage solutions as well.
You can try M-Files free for 30 days but pricing for M-Files is not listed on their website. You need to contact their sales team to inquire about a custom solution.
Templafy
- Try for free
- Customized pricing
- Enterprise solutions
- All-in-One document management
Templafy is a relatively new DMS. After launching in 2014, they have been providing all-in-one document management solutions for enterprises all over the world.
It’s designed for large businesses and helps streamline tasks to save time when it comes to storing and accessing files.
More than 300 enterprises across 80+ countries use Templafy for document management. This translates to more than one million users.
Using intelligence software, Templafy will automatically show the most relevant content to each employee based on their usage and position.
That means your marketing team doesn’t need to see documents only relevant to accounting, and so on.
Templafy eliminates of having to create new document on a new platform by giving users the ability to create and edit new content directly within the system.
Both new and uploaded content can all be managed in a simple and singular feed on your dashboard.
Templafy’s cloud storage software means you can access documents from anywhere, including on your smartphones and tablets.
You can integrate Templafy with Microsoft Office 365, G-Suite, and other platforms that you’re using to run your business on a daily basis. You can even integrate Templafy with CRM solutions like Salesforce or Microsoft Dynamics.
Big brands like Pandora and IKEA trust Templafy to manage their documents with enterprise-grade software.
In addition to managing documents and files, Templafy has solutions for maximizing employee productivity and creating an evergreen IT infrastructure.
Security is another top benefit of using Templafy. You and your team can securely store and access content from anywhere, using any device, whether you’re online or not.
Like most enterprise software, Templafy provides custom solutions for each unique company. So they don’t list any prices online. You can try Templafy for free before you commit to a contract by reaching out to their sales team.
eFileCabinet
- Starting at $15 per month
- Integrates with many third-party services
- File share & collaboration tools
- Access files from anywhere
eFileCabinet is one of the best document management solutions on the market. They help individuals, small business owners, and enterprise-level companies organize data and files online.
Their solution helps you remain organized no matter how many documents and files you have.
You can search for documents or locate them based on folder templates or pre-defined file names. eFileCabinet also keeps a portfolio of your most used documents for quick access.
The eFileCabinet solution does the hard work for you. Simply upload a document, and the software will file it. The automated workflow streamlines your time-consuming tasks to improve efficiency in the office.
All of your documents can be accessed from anywhere with a web browser or mobile app. Use your phone or mobile device to upload directly too. eFileCabinet also allows you to sign contracts.
One of the biggest standouts for this solution is the collaboration features. The system allows you to create different levels of security, so only certain people can access data.
eFileCabinet has encrypted file sharing and requests, two-factor authentication, and role-based permissions. You can even set IP or location-based authentication.
The software integrates with popular third-party services like DocuSign, Salesforce, and Microsoft Office.
Here’s an overview of the plans and price points for eFileCabinet:
- Starter — Starting at $15 per month (25 GB of storage)
- Advantage — Starting at $55 per month (1 TB of storage)
- Business — Starting at $99 per month (5 TB of storage)
- Unlimited — Starting at $199 per month (Unlimited storage)
All prices are listed per user and billed on an annual basis. Once you upgrade from the Starter plan to Advantage, you’ll need to pay for a minimum of three users.
I’d only recommend the Starter plan to individuals. Sole proprietors or very small businesses can probably get away with the Advantage plan, but the Business package will likely be the best for the majority of you.
With eFileCabinet, you get to choose if you want your storage either on-site or on the cloud. Personally, I prefer the cloud storage. But there are advantages to on-premises as well. Click here to learn more and sign up at eFileCabinet today.
signNow
- Free 7-day trial
- Starts at only $8/month
- Unlimited templates
- Industry-specific solutions
signNow is an intuitive document signing and management software loved by users for its ease of use and low price point.
signNow is a no-frills solution for affordable document signing services. In terms of features, it stacks up well with big names in the industry, offering unlimited templates, many integrations, cloud storage even on the lowest paid tier, multiple language support, audit trail, reminders, and more.
Unlike e-sign big names like DocuSign and HelloSign, one handy feature signNow offers is a unique direct signing link. When you upload a document for signing, you do not have to let the provider send a third-party email to your client requesting a signature.
Instead, signNow gives you a direct link you can email or text to your client so that the request comes right from you.
Another point for signNow goes to its mobile app. Document recipients can sign important papers without signing up for an account from desktop, phone, or tablet devices.
You can purchase a solution suited specifically for your industry, including but not limited to:
- Construction
- Financial Services
- Healthcare
- Insurance
- Real Estate
- Education
signNow users can also set up no-code workflow automation for all document processes. You can assign roles, add conditional routing, set notifications, and integrate with the business tools you already use. Plus, it is very secure, complying with ESIGN authentication and protection, operating according to SOC 2 Type II certification, guaranteeing compliance with industry standards.
signNow has four subscription plans:
- Business: $8 per user per month
- Business Premium: $15 per user per month, includes workflow automation
- Enterprise: $30 per user per month, includes payment requests, attachments, and more
- airSlate Business Cloud: $50 per user per month (5 user minimum), includes a suite of tools and more compliance and support
Even the Business Premium pricing is about what many other DMS software charges for their lowest plans. And you can save up to 60% by paying annually instead of monthly. To get started, try signNow’s 7-day free trial and start sending documents now.
Hightail
- Limited free forever plan
- Paid plans start at $12/month
- Track file delivery & downloads
- Send large files securely
Hightail is a document management solution with a specific purpose: sharing and collaboration.
Other DMS on the market have features for file sharing as well, but Hightail takes this to the next level.
If you need to send large files securely, this service is going to work well.
Secure sharing is simple. Just drag or upload a file from your device or cloud storage solution into your Hightail account. Enter the information for who you want to share it with, and automatically send an email notification to the recipient.
Share a video presentation with the team, and their get their feedback immediately.
With Hightail, you’ll be able to track the delivery and downloads of content you shared. So you know exactly who opened it and when.
Hightail lets you send files of up to 500 GB. You can add password protection to files and set expiration dates as well.
Here’s an overview of the plans and pricing for Hightail:
Lite — Free
- 100 MB file send limit
- 7 day file expiration
- Comments for feedback enabled
- Sync from third-party integrations
Pro — $12 per month per user
- 25 GB file send limit
- Configurable file expiration
- File previews enabled
- Send tracking and delivery notifications
- Password protection
- Phone and live chat support
Teams — $24 per month per user
- 50 GB file send limit
- Custom branding
- Organization and archiving tools
- Version control with side by side comparisons
- Real-time discussions for collaboration
- Members management
Business — $36 per user
- 500 GB file send limit
- Enterprise-grade security
- Dedicated customer support team
- Organizational level permissions
- Admin reports
As you can see, the pricing is largely based on the file sending limits. But the features get significantly better with each plan as well.
The free option is actually pretty good if you don’t need to send huge files, and even the entry-level Pro plan is suitable for a number of individuals.
If you’re interested in a paid plan, you can try Hightail free for 14 days.
Benefits of Document Management Software
A document management system can improve efficiency for you and your staff by organizing all of your files and making them easy for anyone in the organization to find. The many benefits of a DMS system include:
Time savings
If you are currently using a manual system, you are costing yourself hours that could otherwise be spent on other, more pressing business matters. A DMS automates many aspects of document management, taking that responsibility off your hands.
Easy scaling
A document management system is more flexible than a traditional paper filing system. It easily accomdoates your business’s growth, and your indexing system can be adjusted with a few clicks. It may reduce the need for physical storage space for files and paper documents.
Enhanced document security
As the world shifts toward digital solutions, ensuring that your information (customer data, trade secret info, etc.) is secure is critical. Document management systems come with built-in security and access controls so you determine who can access certain documents. In addition, you can see all activity on any given document.
In the event of a disaster, like a fire or flood, your files are stored safely in the cloud, away from physical harm.
Quick and easy document retrieval
Searching for the right document can be difficult and time-consuming; it can even cost you money. With the right indexing system, finding a document can take mere seconds, and employees can remotely access the documents they need. [Discover the benefits of a paperless office.]
Conclusion
You probably have a lot of documents to manage: invoices, purchase orders, job offers, and more. Documents need to be created, edited, reviewed and signed by multiple people before they are final. Also, you probably have to store this information in a separate location from your accounting software. But do you use the best software for managing documentation?
The last two decades have witnessed a boom in the IT industry. Great deals of progress have been made which has changed how we interact with the people around us. Today, computers are available on almost every desk, of almost every employee at an organization. This also means that there is a lot more data now compared to a few years ago.