With the surge in popularity of mobile and cloud computing, many companies are finally digitizing their paper files. While this new way of storing data looks exciting, businesses often face a tough decision: to go for document management software or not? And if yes, what are the features that can make an application best for your company? In this article I’ll share my experience with various tools and provide you with a list of some great ones you should try.
Document management can be a challenge for any business, whether you’re using a paper-based filing system or an electronic one. Document management can be easier for some industries than for others. A lot of this is due to the type of industry and what is involved in running it. Whatever type of business you have, there are a number of benefits from implementing some form of document management software into your workflow.
Tools for Document Review is a document management system designed to deliver a seamless and efficient experience through your entire lifecycle, from inception through completion. Collecting and organizing documents can be a real pain in the neck. What should you keep? How should you organize them? How are you supposed to find anything when they are haphazardly thrown into a storage area or file cabinet? That is why you need document management software.
Document review is an integral part of legal practice, especially in the case of class action lawsuits. It involves reviewing documents filed in court and preparing files for deposition. Tools for Document Review is a cloud-based document review software that allows lawyers to manage all aspects of a document review process including organizing documents, assigning tasks to reviewers, monitoring progress and generating reports.
What is document management software?
Document management software provides organizations with the following functionality:
- A central, searchable repository for records.
- Paper documents can be digitally uploaded and filed, thus eliminating the need for the extra space (and cost) required with paper storage. In addition to improving organization and efficiency.
- Digital document storage minimizes the risk that records can be lost or damaged.
Organizations that frequently use and/or maintain records containing sensitive personal information, such as those in the medical or financial industries, may benefit especially from document control software. These solutions can help ensure industry-specific document compliance while providing the appropriate users with quick, reliable access to records.
Clearslide (Formerly SlideRocket)
Clearslide purchased Sliderocket several years ago. If volume sales is important to you, Clearslide could be a good tool for you. There is more emphasis on the sales and tracking than the presentation creation side of the software. After going through a series C $50 million round of funding, the company is focusing more on sales enablement more broadly and less on presentations specifically. Nonetheless, the tool is worth reviewing.
You can upload files from Keynote, Powerpoint, PDF, Excel and other formats; good metrics; online delivery; slide sharing. Interface is complex and limited in the ability to create “better looking presentation”; video isn’t seamlessly integrated into business presentations.
Data & Information Collection/Management
Google Docs
Google docs is simply the free gold standard of document sharing services. The ability to share Word, Excel, Powerpoint, and Access documents with anyone with an email is powerful. But the level of functionality compared to their traditional desktop version is lacking. For instance, if you need to synchronize different docs or export data, you’d need to use external solutions like Excel to Google Sheets integration or others.
Google docs is great to use for teams that are nimble and don’t need any particular grandiose solution that does a particular function. Even though Google Docs has been placed in Data Collection, it is often used for collaborating with people and teams.
DropBox
Dropbox has become the gold standard for document sharing and document management. Dropbox is simple and easy to use for many users. You can do both traditional documents as well as videos for sharing. You can also edit presentations with teammates without emailing files back and forth. When you edit a file in a shared folder, everyone gets the update automatically.
Dropbox is a relatively inexpensive solution for file sharing and is probably the most popular file sharing application.
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.
MasterControl
- CUSTOM ENTERPRISE PRICING
- SECURITY IS THEIR TOP PRIORITY
- LARGE FREE LEARNING CENTER
- TRACK CHANGES AND REVISIONS
MasterControl is a DMS made for businesses where security is a top priority and concern. Certain industries have strict regulations for companies to comply with.
MasterControl understands those compliance concerns and created a document management solution that meets any security requirements.
They give you the ability to track changes and revisions. This is incredibly helpful—especially if a document needs to be reviewed by a particular person. You can schedule a time and send out reminders as well.
MasterControl can also limit revisions based on access. You have complete control over who can make changes to a document.
You can also create custom watermarks, sequential numbering, and location tracking to control copies of your files.
MasterControl is 21 CFR Part 11 compliant. This means that documents have a time-stamped audit trail, as well as e-sign functionality that complies with federal regulations.
Another unique standout of MasterControl is its learning center. You’ll have access to tons of free videos, documents, and other resources to educate you about the platform and security compliance in general.
If you need enterprise-grade security for document management in a strict industry, MasterControl will be a top option for you to consider. Contact their sales team for a custom quote.
M-Files: Best for Ease of Use
M-FilesM-Files has optical character recognition, which automates your metatag process and categorizes scanned files for you.M-Files supports drag-and-drop capabilities.Only M-Files’ enterprise plans provide print and download prevention, two features designed to keep your data private and secure.COMPARE QUOTES
M-Files is a comprehensive document management system with an intuitive and easy-to-learn interface. It can serve a variety of industries, such as accounting, business consulting, construction, engineering, energy, financial services, manufacturing, professional services and real estate. M-Files contains numerous tools that allow businesses to seamlessly organize documents, digitize large volumes of physical papers and automate workflow processes. For example, it offers metadata suggestions and version control, simplifying the storage and retrieval process. It can also integrate with Parashift, a deep-tech company that specializes in machine learning document retrieval, so you can further accelerate and simplify your document management processes. Instead of manually classifying documents and reading data, you can automatically process a wide variety of structured, semi-structured, and unstructured documents.
M-Files offers three different service plans. We like that each one is available as an on-premises, cloud-based or hybrid system, so users can choose the type of system that best meets the needs and capabilities of their organization. Each plan also comes with easy implementation and automatic updates, so you can be sure your document management system is up to date. M-Files offers rapid deployment packages, managed services, and team training services if you need additional assistance. The company also offers a wealth of online learning resources, such as industry reports, case studies, infographics, e-books, videos, podcasts and on-demand webinars.
Common buyer scenarios
Buyers evaluate document management software for many different reasons, but most fall within one of the following common scenarios:
Digitizing company documents: Organizations looking to go paperless by digitizing paper records often seek a stand-alone document imaging application to help upload these records quickly, without having to manually scan them. Imaging applications are sometimes part of a larger integrated suite that offers additional tools for the tracking, storage, and retrieval of these digital records.
Securing sensitive records: Companies in certain industries are subject to government regulations that mandate how records are stored and accessed. These regulations often require organizations to keep both historical and current documents in a digital format, and to limit who can access them. These companies often seek document management applications that are designed to aid compliance, and include features such as audit trails and role-based permissions. Companies should also consider a virtual data room which offers more features and protections that standard document management systems lack.
Organizing file systems: Many companies have difficulty finding and accessing files. For example, documents may be stored across multiple locations, including network drives, individual desktops and web-based file sharing platforms, which in some cases may violate company policies. These buyers seek to unify document storage so employees can access documents both easily and securely.
Many larger organizations often seek Enterprise Content Management (ECM) solutions, which are more comprehensive systems that often include records and digital asset management applications, among others.
Seeking an industry-specific solution: Certain companies require solutions that are tailored to the specific document life cycles in their organization and include case or contract management tools. Document management software helps automate and track the unique workflow of these records to improve efficiency while ensuring no step is missed.
Conclusion
Document review is the most common and important part of the litigation process. It can be a lengthy, painful process when done manually, but today it’s a better way to do things — thanks to document management systems and software. This is a guide to document review tools that will help you manage your documents and make the job easier.
Document codes often include documents can be stored in cost-effective manner backup, disaster recovery and mobility to perform. There as well as provides the friendliest document management tools for businesses including MS Office apps for office automation. And free document management software you can rely on to find right file, right time and right person.