The Best Document Management Software of 2024

Document management software enables businesses to digitize existing documents and records and create new ones. Any user with the requisite permissions can then edit these documents, enabling organization-wide collaboration.

Document management systems also include tools to organize documents, usually by systems of tagging and metadata. For example, all financial documents could be tagged “finance”, and then sorted into sub-categories like “accounting”, “expenses”, “invoices”, etc. Most systems are flexible and allow you to set up your own filing system.

Today, the best document management systems automate some of these functions through a feature known as optical character recognition (OCR). This enables the software to review the contents of a document and automatically affix relevant metadata to it, filing it away in an appropriate folder.

Document management systems offer business owners many important benefits, including:

• Increased security: Document management software offers a better way to store, sort, search and access records. It also allows administrators to restrict certain files by permissions, ensuring only those who require access to those documents have it.
• Ability to make and track changes from anywhere: Files can be repeatedly edited and updated anywhere. Most applications have a versioning feature, so users can track the changes that have occurred throughout the life cycle of a document.
• Improved collaboration and workflow automation: With most applications, you scan paper documents into digital versions, which are then stored on the platform. The best programs improve your team’s ability to collaborate remotely and around the clock. They also offer workflow automation tools that make it easy to create, edit, review and approve any and all documents necessary to keep your business running smoothly.
• Eco-friendliness: Document management systems offer tools to help you create and manage a paperless office. Rather than using multiple programs to handle the various stages of a paperless workflow, the software delivers all the functionality you need in a single interface.
• Easy importation: Most applications include imaging tools that interface with your scanner, enabling you to scan and import documents directly into a central document repository. In addition to scanning paper documents, many systems let you import most types of digital documents: PDFs, word processing files, spreadsheets, image files and many other file formats. Once a document is imported into the system, it’s stored in a data repository that can be made accessible to others in your office and, in many cases, individuals outside your office.

There are several types of document management systems you may encounter, including:

• Content Management: This system focuses on creating, organizing and publishing digital content. It is typically used for websites, intranets and digital publications. Content management systems enable collaborative content creation and provide version control features.
• Workflow Management: Workflow management software automates and tracks document-based business processes. It routes documents to appropriate people for review, approval or action. This system helps streamline operations and improve overall efficiency in document handling.
• Records Management: Records management systems manage the lifecycle of official business records, ensuring compliance with legal and regulatory requirements. These systems include features for the retention, disposition and secure archiving of important documents.
• Document Imaging System: This type of system converts physical documents into digital format through scanning. It often includes optical character recognition (OCR) technology to create searchable text. Document imaging systems facilitate the storage, retrieval, and distribution of digitized documents.
• Information Management: Information management is a broader system encompassing various aspects of data handling. It focuses on organizing, storing and retrieving all types of information within an organization. These systems often integrate multiple tools to provide a comprehensive solution for managing information assets.

Most of the document management systems on our best picks list combine the features of more than one of these types of systems. The very best are capable of performing most, if not all, of the tasks outlined above.

Pricing for document management systems varies greatly depending on several factors. The hosting method you choose can significantly impact the pricing.

Cloud-based document management software is generally based on a monthly subscription rate. Cloud-based solutions typically cost $15 to $200 per user, per month. Monthly subscriptions are based on a per-user-per-month model, so the number of users you need greatly influences the total cost.

On-premises solutions require a one-time fee upfront, plus an annual subscription for software updates and technical support. On-premises solutions generally average $1,000 per user. In addition, you’ll pay setup fees and an annual service subscription for software updates and technical support, which is generally about 20 percent of the initial cost.

Some companies offer a hybrid model that blends on-premises and cloud-based solutions.

To choose the best document management system for your business, consider the following aspects when researching the market. Once you’ve identified a handful of platforms that may be suitable, be sure to schedule live demonstrations, ask scrutinizing questions of representatives and test out free trials to get a better sense of how each software works.

To best understand what should be prioritized, we spoke with business owners and leaders about the process they went through when choosing document management software.

Consider pricing and overall value

When evaluating pricing and subscription plans, think about more than just the sticker price. While it might be tempting to choose the cheapest option, think instead about overall value — which platform provides the most bang for your buck? Make sure that you’ll have access to everything you need at a cost-effective price point, even if that isn’t the lowest price you encounter on the market.

“Affordability must be balanced against the need for scalability. Most companies simply want the cheapest option, but this could be a short term benefit when such companies expand,” said Cache Merril, founder of Zibtek. “Search for a structure that provides flexibility in pricing without any hidden costs.”

Evaluate usability and set up

Document management software that is difficult to set up and hard to use isn’t going to be very helpful. Take the time to select a platform that you can get up and running quickly and that requires minimal training for your staff to use effectively. Picking user-friendly software with an easy set up and implementation support means minimal disruption during the implementation phase.

“In case the software is not easy to use, or if the user has to go through rigorous training, this would most likely affect the usage. Look for a solution which the employees can start using immediately with short training,” Merril said.

Take customization and flexibility into account

Document management software should be flexible enough to adapt to your business’s workflow and unique needs. Custom filing processes and metadata structures are a must, for example. Consider also how a platform lines up with the needs of a business in your industry — can it meet expectations or is it designed for another type of business?

“Choose a solution tailored to your industry’s specific needs,” Anthony Perera, founder and CEO of Inspected, told us. “For contractors and municipalities, look for software that understands the nuances of the permit process. Prioritize ease of use and robust security features. Don’t underestimate the importance of good customer support and regular software updates.”

Determine customer service quality

It’s normal to encounter problems with any business software, and document management systems are no different. That’s when responsive, helpful customer service is crucial. Be sure to investigate a company’s reputation for customer service before purchasing their solution. A company with good customer service can make the difference between a minor issue and a major catastrophe.

“It is very important to provide responsive customer service. It could be in the form of live chat, phone support or a detailed help center,” said Chris Dukich owner of SaaS company DisplayNow. “Reaching for help can save a lot of time in case of technical problems or during onboarding.”

Mind security measures

Document management systems almost always house sensitive company data or customer information. Ensuring that data is protected is critical for avoiding data breaches and running afoul of regulations. Always closely inspect the security measures a platform employs to make sure your data will be secure.

“Do not forget about security and compliance features to avoid any waivers to the client’s breach of trust especially if you deal with sensitive information,” Dukich said. “Ensure that such systems meet regulatory gates such as GDPR, HIPAA, SOC 2.”

Here’s a closer look at some of the core document management software features we looked for in our best picks:

Search

A search tool lets you quickly and easily filter documents stored in the software. Most search functions include the ability to sort by date created, date edited and a variety of metadata tags, which can be applied to a document upon upload or any time thereafter.

Search and retrieve files quickly with a document management software app. (Source: M-Files)

OCR

OCR automates the process of metadata selection and streamlines searchability even further. OCR turns text from paper documents into searchable text once a file is digitized. Software with an effective OCR tool makes it even easier to organize and sort your documents.

File upload

Most document management software offers multiple ways to upload files, including importing them from another database or scanning them in from a compatible scanner or printer. Once uploaded, documents can be affixed with unique metadata to help organize them for easy search and retrieval later on.

File cabinet navigation

Many document management software employs a file cabinet style navigation. This includes an organization structure that follows a cabinet/folder/file system, similar to the one employed by Windows File Explorer. This system makes it easy to organize documents and locate them quickly, even without using the search function.

Versioning

Version control, or versioning, is critical to safeguarding and tracking editable documents within a document management system. When documents are regularly updated or changed, versioning allows you to keep track of old versions and quickly identify new ones. Minor changes, such as light proofreading, can often be identified by a minor version update (often displayed as “v 1.1”). More significant changes will be denoted by a major version update (which could be displayed as “v 2.0”).

Workflow automation

Workflow automation allows users to assign tasks related to specific documents to other users of the system. Users are then notified that action is needed from them on a particular document. They can then pass off the document to another user once their task is complete. Workflow automation tools can be set up to automatically trigger notifications for documents that follow a routine step-by-step workflow.

Security

Security features are essential to preventing an organizational data breach, especially for businesses that store sensitive customer data or trade secrets. Security features, such as encryption, vary depending on the document management solution. One common security feature, though, is an audit log, which keeps tabs on every single activity performed in the software.

Gain full control over document distribution, access and security with a document management service. (Source: Dropbox)

Mobile access

Many applications come with a mobile access component. As remote work increases, mobile apps or mobile web browser access is an important element of document management software for many companies.

The implementation phase comes once you’ve determined which document management system is right for your business — and it’s especially important to get it right. Proper implementation means a minimally disruptive process that leaves you with an efficient system that matches your workflow.

So, how can you ensure you get implementation right and set your team up for success? Follow these steps.

1. Identify an implementation leader or liaison

Name someone on your team to take point when it comes to all things implementation. If you’re managing implementation internally, this person must have the technical skills required to configure the system. If you’re working with an implementation specialist from the provider’s side, this person may not need technical skills but will instead serve as a liaison. They should be highly organized and communicative, as they will be the linchpin between your business and the document management system provider.

2. Review your existing filing system

Before you can adequately set up your new document management system, you need to understand how you currently file your documents. If you’re using a document management system already, consider whether the metadata is portable into the framework of the new platform. If you’re digitizing paper records for the first time, ask yourself how you can create an effective structure within the new system.

When establishing a new filing system, organize your documents so they are easily searchable and retrievable. Ask yourself which departments will access these documents and how they will use them. Then, create a filing system around these practical considerations.

3. Migrate data or digitize documents file by file

The task of migrating data from an existing document management system or digitizing your paper records may seem tedious, but it’s important to take it file by file. By carefully taking inventory of every record you’re uploading into the new system – confirming the accuracy of existing metadata and affixing relevant tags along the way – you’ll ensure your archive is accurate, navigable and useful once the new system is up and running.

Look at this step as an opportunity to clean up your archives. You can sort documents in a new way and streamline the way your business keeps its records. After you’ve taken a complete inventory of your records, you can delete any duplicate or unnecessary files – but be sure to triple check before you do so!

4. Record your standard operating procedures (SOPs) for record-keeping

Now that you’ve reviewed every document your business owns and established a sensible filing system, make sure you document the SOPs for creating and archiving additional documents moving forward. Your new system is only effective if your team adheres to it in the future, so make sure they have documentation to reference.

The best part of this step is your new document management SOPs can be stored directly within your document management system. That makes these guidelines easy for anyone to reference when needed.

5. Review documents within your new system

Once you’ve migrated your data, digitized your paper records, set up your new filing system and recorded your SOPs, review your archive in your new document management system. Ensure that everything is stored in the proper place and is accessible by the right team members. Check roles and permissions to ensure no one has access to any documents unless they need it — especially sensitive information like company financial statements or customer payment information. Make any final adjustments you need.

In addition to the five document management software packages reviewed above, the following vendors’ platforms are excellent and you should consider them for your shortlist of suppliers.

isoTracker

isoTracker uses a Windows-based file structure, which makes it easy to navigate. It utilizes several drop-down menus that make inserting and categorizing documents a simple process. The cloud-hosted software provides users with a centralized document repository, valuable workflow tools and automated notifications. It also includes integrated analytics and reports.

isoTracker offers multiple support channels customers can reach out for help on including phone support, online contact forms and live webchat.  We were also impressed with the video guides, which give users step-by-step instructions on how to use the software. They cover topics like how to add new documents and check in a new document version. There is a 60-day free trial to test the system before committing.

Canon

We were impressed at the robust set of security features Canon has built into its intuitive and flexible document management software platform. The technology underlying this is imageRUNNER ADVANCE DX,, specifically designed to maintain data confidentiality, accessibility and availability to the highest standards. Canon’s system allows companies to assign different roles and strictly limit what documentation and associated data is available to people within given roles. The platform also features multiple authentication gateways, including One Login, Azure Active Directory, OKTA, and Open ID. This is great for enhanced security and streamlined access management. We also liked the addition of McAfee’s Embedded Control and Canon’s Intrusion Detection System tech to the platform that continuously monitors for threats like unauthorized access and data breaches.

Kyocera

The intuitive Kyocera dashboard makes it easy to create automated workflows to fit in with or improve your current business processes. We loved the Kyocera Cloud Information Manager (KCIM), a smart tool that reads extra characters from scanned documents with one-click indexing. The file routing is first class and ensures that the right document reaches the right person with the correct access permissions, without the need for manual intervention. Finding and retrieving documents is quick and easy thanks to the platform’s smart management solution. We were impressed with the versioning feature on the Kyocera system, which keeps track of document changes and allows colleagues to see comments. The Kyocera Enterprise Information Manager (KEIM) uses REST API to integrate with third-party platforms for seamless data exchange, ensuring everyone in the business is working from the same data and document resource.

Dropbox

While many document management platforms have created cloud-based versions of their software, Dropbox was built from the ground up as a remote solution.  The platform’s business version enables automatic document synching to all team members and their devices. We like how designated managers can create mobile offline folders to access important documents without an internet connection and perform remote account wipes to manage connected devices, wherever they are. We were impressed with Dropbox’s eSignature tool, which allows team members to create signable documents in just a few clicks and recipients to return them just as quickly. Dropbox offers a free service, so you can test it before committing.

To determine the best document management software on the market, our team of technology experts and software analysts evaluated an initial list of 72 systems. We narrowed this list down by evaluating pricing and plans, the list of available features, implementation and customer support, and online user reviews.

After whittling our list down to 10 candidates, we scheduled live demonstrations and accessed free trials to test out each platform firsthand. Our experts and analysts studied each program’s functionality and evaluated the products on more than 25 factors. Ultimately, we chose five document management solutions as our top recommendations.

These factors were weighted differently in our overall conclusion. The weights were determined based on how much business owners prioritize these criteria when shopping for business software and services and making purchasing decisions.

• Pricing (30%): Our experts and analysts compared and contrasted each vendor’s plans, judging which packages offered the best bang for your buck. They took into account costs for cloud-based versus on-premises systems, per-user fees, setup charges and price increases for greater storage capacity.
• Features (25%): We looked for standard document management functions like file organization, file sharing, document editing, automated workflows and optical character recognition.
• Ease of Use (20%): We tested the software ourselves, gauging each solution’s learning curve, user-friendliness and customization options. We also considered whether there were e-signature capabilities and mobile access for managing documents on the go.
• Customer Service (15%): We evaluated the range of customer service options, including whether phone assistance was provided with all package tiers. We also examined each vendor’s online resources for businesses interested in self-guided help.
• Integrations (10%): We also assessed the available integrations and awarded extra points for advanced services, like AI tools that analyze documents, ensure legal compliance and detect security threats.

Based on these criteria, we not only determined which document management systems our readers could trust but also the ways in which each solution could best serve different business needs. Some programs were better at certain tasks than others or more suited to a particular type of company. These takeaways informed the “Best for” use cases you see on this page.

To learn more about our methodology, see our full editorial process.

In 2024, document management software will continue moving to the cloud and away from the on-premises model. While the on-premises model, which allows companies to maintain the software and data on-site in local servers, grants additional control to businesses, it requires a significant upfront capital investment and a team of experienced IT professionals to maintain.

Cloud-based models are more affordable and require little maintenance, putting the burden of ensuring uptime and security on the software provider. For this reason, many businesses have opted for a cloud-based model, and software companies offer several types of subscription-based document management plans. Look for this trend to continue in 2024.

In addition, the expansion of document management software within mobile platforms will continue. As many workers continue to do their jobs remotely, they need to access shared documents on their smartphones, tablets and laptops. Software vendors are increasingly launching apps or enabling usage of their solutions via mobile web browsers.

The document management software industry is experiencing steady growth. Fortune Business Insights’ market research suggests the industry will grow from $6.23 billion in 2023 to $18.97 billion by 2030, representing a 17.2 percent year-over-year growth.

Much of this increase in value is driven by the rise in AI-based solutions. Many document management platforms can now automate workflows and processes, from categorizing documents to extracting and finding relevant data. Businesses can also leverage AI within document management systems to analyze broad data sets, identify patterns and predict trends.

AI-powered solutions can also automatically detect potential threats, encrypt files and prevent unauthorized access, as well as keep document management software in compliance with regulatory requirements. We expect that, with technological advancements, the capabilities and adoption of AI in document management will only grow in 2024.