Top 5 Enterprise Document Management Systems in 2021

An enterprise document management system is defined as an application that stores, organizes, and executes workflows on documents and records. This article explains the key features of an EDMS and lists the top five EDMS in 2021. 

 Table of Contents

• • What Is an Enterprise Document Management System (EDMS)?
  • Key Features of Enterprise Document Management System (EDMS)
  • Top 5 Enterprise Document Management Systems in 2021

What Is an Enterprise Document Management System (EDMS)?

An enterprise document management system allows users to create, store, manage, index, protect, retrieve, and even organize different kinds of documents online. By adopting an EDMS, enterprises can do away with the traditional paper documentation and venture into a tech-savvy space.

With an EDMS, businesses can forgo maintaining troves of paper documents while also improving productivity with easy document access and organization. To understand this concept better, let’s look at a couple of scenarios.

Scenario 1

In the first scenario, let’s use a traditional paper-based document management system for the employee onboarding process. Since we do not have access to an effective EDMS, the document management process for employee onboarding tasks relies on old-fashioned paper-based processes. The process includes the following steps:

1. 1. An employee job offer is stored as a Word file (.doc) on the local computer or server or in a paper format in some cases.
   2. An email exchange between the new employee and the employer is stored on the exchange or notes server.
   3. The standard employee onboarding process, which involves paperwork on the company’s codes of conduct, company values, ethics, compliance rules, etc., is all stored in a file cabinet or folder.
   4. After the essential paperwork is complete, an employee’s signed contract and personal information are saved in the HR department’s system or stored in paper format in the concerned department.

During the onboarding process, the recruiter may need access to one of the above documents. It may be stored in one of the many storage locations like cabinets, racks, or folders. Suppose another employee from the HR department has the document. However, that employee is on leave and cannot be contacted due to various reasons. This makes the document unattainable or inaccessible, bringing undue delay — eventually bringing the onboarding process to a halt until the employee returns. The entire process has a major bottleneck, thereby slowing everything down.

Scenario 2

In the second scenario, let’s carry out the same onboarding process with an EDMS.

1. 1. All the employee onboarding documents are available in electronic format, and the electronic version is stored in the document management system.
   2. The document management system manages all documents that accumulate in daily business and files them in appropriate locations.
   3. The e-documents are filed within an electronic file cabinet, and every e-doc is accessible to authorized employees within the organization.
   4. Now, when the need arises for a document, it can be searched for within the EDMS. Such a system saves time as relevant documents and tied processes are brought up in a matter of seconds.
   5. With the EDMS in operation, one can open all employee onboarding documents with just a click regardless of the document type. The document can either be an email, fax, word file, image, or video file.

Thus, an EDMS makes the whole process much easier and faster by locating the needed documents within seconds. Besides, the effectiveness of a dedicated EDMS tool can be enhanced by linking it with other applications. For instance, consider an example of a workflow management tool like Process Street, which can be used alongside an EDMS.

By coupling these applications, the enterprise will gain stringent management over all the necessary documents. Therefore, by deploying a combination of an EDMS and a workflow management tool, the enterprise can create an effective DMS that can help manage documents and processes in an efficient way.

Also Read: What Is a Content Management System (CMS)? Definition, Key Functions, Best Practices With ExamplesOpens a new window

Types of EDMS

EDM systems can be classified into two general categories. Let’s understand each one in brief:

• • Cloud-based: Cloud EDM systems are operated via online access to the software developer’s cloud system. This enables easy retrieval of documents on any computer or mobile device without dealing with software compatibility issues, along with a continual backup of the documents to the cloud.
  • Self-hosted: Self-hosted EDM systems, on the other hand, are hosted on the user’s own computers or servers. While data on self-hosted EDMS isn’t accessible like cloud-based systems, self-hosted EDMS typically offers the user more control over document management.

Enterprise content management vs. enterprise document management

Enterprise document management (EDM) is defined as a strategy used to focus on an organization’s paper and online documents for better protection and easy retrieval. It is part of a broader discipline termed enterprise content management (ECM). ECM zeros-in on content management in general, which has an added timeline for each content item under consideration. Let’s dive deeper into both categories. 

• • Enterprise content management is intended to organize conventional documents as with EDMS and other file types, like images or proprietary data files. ECM systems are generally geared toward managing files, media, and any other types of content overall. Google Drive is an example of a content management system Opens a new window geared toward file storage in general and integration with a range of products to access, share, and integrate workflows on documents within the storage structure.
  • Enterprise document management is intended for organizing conventional document types, such as .doc, .ppt, .xls, .pdf, while also supporting workflows to interact with these files and automating processes. To successfully implement an EDM, organizations need a document management system (DMS). A DMS discloses a set of procedures and principles to store, manage, and track documents. Document management systems are most commonly referred to as electronic document management systems.

Also Read: 10 Best Content Management Systems (CMS) Software in 2021

Basic process of an EDMS

EDMS is designed for digital document management, irrespective of the stage the enterprises are currently in — whether the enterprise is implementing digitized systems into the workplace for the first time or if it already relies on several digitized operations. Let’s look at how an EDMS works in detail.

Step 1: Document capture and digitization

The EDMS tool allows the transfer of documents into an electronic format in a fully or partly automated way. These tools simplify the document digitization process. In the electronic DMS process, paper documents, emails, and system-generated reports are captured, digitized, and stored. Let’s look at each category separately.

• • Paper-based documents: Here, paper-based documents are scanned, and index terms are consequently assigned to each document using one of the following methods: by hand, enterprise resource planning (ERP) system, zone optical character recognition (OCR), or using smart process software.

• • Emails: On average, an office employee receives 121 emails and sends about 40 per dayOpens a new window . Emails, and their attachments, therefore, form a key part of any business. A DMS can capture email messages and index them under categories like the recipient, sender, subject, and even enterprise name.

• • System generation report: Business systems in an enterprise are bound to generate reports, and with DMS in-place, these reports are captured automatically.

Step 2: Centralize document storage

As the document gets converted into an electronic format, it can be placed into a document management system’s electronic file cabinet. The electronic file cabinet is essentially a central document storage area that plays a critical role in managing and retaining all the documents from various places connected to the central storage. The electronic filing cabinet provides various advantages such as:

• • Centralized access: Authorized employees have easy and immediate access to the central storage, anytime and from anywhere, with cloud-based storage solutions.
  • Document version management: Central storage provides complete document control as document changes can be tracked, allowing the reversal of alterations that occurred by mistake in worst-case scenarios.
  • Document security: Central document storage is secured as an enterprise can set permissions on each document for its personnel or any outsider. This way, the enterprise can control how the documents are accessed, thereby providing security to the documents.

Also Read: What Is Enterprise Content Management? Definition, Key Advantages, and Best Practices

Step 3: Document retrieval and distribution

Sharing documents and utilizing them for enterprise purposes is a key step. This is achieved by document retrieval and distribution. Let’s look at each one separately:

• • Document retrieval: EDMS tools provide a facility to search relevant documents and retrieve them via a simple keyword search. This is possible due to document indexing, as seen previously. Thus, one can locate any document in minimal time with the right index key.

• • Document distribution: Document distribution refers to distributing documents to customers, vendors, even employees, or concerned personnel of an enterprise.

Today, with the growing digitization and standard workflow demand, automation of manual processes and workflows concerning document management systems is the need of the hour. 

Key Features of Enterprise Document Management Systems (EDMS)

Before moving on to the top five EDM systems in 2021, let’s see the key features of an EDMS.

• Centralized document storage and organization

EDMS acts as a centralized document storage hub for all paperwork that flows in and out of the organization — right from timesheets, PTO requests, and direct deposit receipts to client contracts, invoices, and receipts. Thus, EDMS is designed to house all files (digital and physical) under one roof. Besides, sophisticated EDM systems also offer tiered levels of storage for organizations depending on organizational needs.

• User-friendly search option 

EDMS provides user-friendly browse and search functionalities. With search options, and efficient document indexing and storage, it is easier for organizations to locate and retrieve documents for use. Searching functions are becoming advanced with time. Here, auto-generated file names, metadata, etc., all lead to more accurate search results within the system. In addition to document names, most EDMS search functions also consider the content of files when searching for a queried term. 

Also Read: Top 10 Enterprise Content Management (ECM) Software Systems in 2021

• Workflow operations

An EDMS customizes workflow operations like creating forms. Here, workflows can be configured to forward a document when approved (e.g., the requisition form) and automatically generate a notification that’s sent to the appropriate person. Consider an example, if a purchase order is over $1,000, send the document to person X; else, send it to person Y (i.e., if the order is below $1,000). 

• Collaborative features

EDMS allows organizational teams to communicate remotely with one another and make collaborative changes to documents. It provides functionality where document owners and managers can message one another, make comments on certain parts of the document, edit the document as necessary, and approve or reject changes made to the document. Besides, an EDMS also provides options to censor or hide information for specific collaborators based on their permissions and clearances.

• Different security permissions for each document or folder

An EDMS provides many features focused on keeping an organization’s data safe and secure. Features like permissions and versioning act as fail-safes themselves. If these functionalities are accidentally accessed and changed (or deleted), managers will be able to recover the document in its correct form.

Also Read: Top 10 Document Management Systems in 2021

Top 5 Enterprise Document Management Systems in 2021

Enterprise document management systems (EDMS) are crucial to ensure that your organization runs smoothly and doesn’t waste time and resources to keep track of records. As simple as it sounds, implementing an EDMS may be the most straightforward way to reduce expenses. 

Not only does an EDMS keep all your records, data, and other materials organized, it also allows for remote access and document collaboration. These features are great to have regardless of the circumstances, but during a pandemic that’s keeping a lot of the workforce stuck at home, they’re lifesavers.

We’ll point you toward the five enterprise document management systems (EDMS) that stand out in 2021.

Disclaimer: This list (arranged alphabetically) is based on publicly available information on software and user reviews. Buyers are advised to conduct thorough testing and software checks before making the final purchase decision.

1. DocuWare

• Overview: DocuWare, founded in 1988, is one of the leading document and content management software. It’s available in 16 languages and is used by major companies such as IKEA and Sony.  
• Meant for: DocuWare provides digital document management and automated workflow solutions and is best for organizations of any size and across all major industries from manufacturing and retail to healthcare and government.
  
• Key Features: 
  • Available on Windows desktops, web browser, or iOS/Android mobile app.
  • Offers training in person and remotely, with customer support available during regular business hours. 
  • Collaboration tools, compliance tracking, and e-signature.
  • Document archiving, assembly, indexing, and retention.
  • OCR, file recovery, version control, and offline access.
  • Integration with over 500 different applications. 
• Rating: 4.4 out of 5 on G2
• Price:  A free trial is available. DocuWare’s basic plan provides four users with 20 GB of storage for $300 a month.
• Editorial comments: The user interface is easy on the eyes, intuitive, and user-friendly. The tool has an effective drag and drop functionality, and users can perform multiple tasks in multiple documents without leaving the main console. DocuWare has an incredible administration tool, allowing you to create multiple access profiles, with rules for viewing and writing, allows you to create several file trays for separation and organization of them, among other features. However, the support leaves something to be desired. DocuWare’s own support takes some time to answer simple questions at times.

Also Read: What Is Voice Over Internet Protocol (VoIP)? Definition, Key Features, Best Practices with Examples

2. eFileCabinet

• Overview: eFileCabinet provides businesses with intelligent organization, workflow automation, secure file-sharing, and eSignature requests, all on one platform.
• Meant for: Businesses of all sizes across industries, including accounting, construction, real estate, manufacturing, and healthcare.
• Key features:
  • Cloud-based and on-premise platform.
  • Operates on Mac and Windows, iOS, and Android mobile apps.
  • Workflow, optical character recognition (OCR), secure file-sharing, email importing, and eSignature.
  • File type conversion, version control, file recovery, and document archiving.
  • Offers in-person and remote training along with 24/7 support.
• Rating: 4.4 out of 5 on G2.
• Price: eFileCabinet offers three subscription tiers:

a) Advantage – The Advantage tier is priced at $55 per user per month (billed annually). It requires a minimum of three users.
b) Business – The Business tier costs $99 per user per month (billed annually).
c) Unlimited – The Unlimited tier costs $199 per user per month (billed annually).

• Editorial comments: eFileCabinet offers on-premise and cloud options, giving customers the flexibility to choose the best plan for their business. A potential weak point could be the fact that eFileCabinet has no automated document assembly.

3. Laserfiche

• Overview: Laserfiche provides intelligent document management and business process automation. It eliminates manual processes and automates repetitive tasks, accelerating how business gets done by employing powerful workflows, electronic forms, document management, and analytics.
• Meant for: Laserfiche platform is suitable for content management of businesses of all sizes in accounting, construction, education, real estate, manufacturing, and healthcare.
• Key Features: 
• • Desktop installation for Windows, iOS/Android Apps, and web-based access.
  • Collaboration tools, e-signature, and compliance tracking.
  • Document archiving, indexing, retention, version control, and offline access.
  • File recovery and file type conversion
  • It also includes business process management, workflow management, and enterprise content management features.
• Rating: 4.6 out of 5 on G2.
• Price: The product uses a subscription-based model that charges $50.00 per month.
• Editorial Comments: Laserfiche boosts efficiency with automation, optimizing the application process, simplifying case management, and eliminating paperwork for employee onboarding. Laserfiche makes it easy to create, store, and send digital documents within the business, speeding up correspondence and making it easy to make data-driven decisions since all the information is in one place. However, the product seems more expensive than other solutions and does not provide document assembly.

Also Read: What Is Knowledge Management? Definition, Process, Examples, Strategy, Best Practices, and Trends

4. PrizmDoc Viewer

• Overview: PrizmDoc Viewer is a browser-based solution that renders and displays 100+ document and image formats without the need to open native applications. Users can view, search, annotate, redact, e-sign, print, and download using one common interface, increasing productivity and saving on licensing costs.  
• Meant for: PrizmDoc Viewer provides a collection of content manipulation APIs that are best suited for web developers to embed document viewing, processing, and conversion into their applications with ease. 
• Key Features: 
  • Turn any image-based document into a searchable PDF.
  • Collaborate and share feedback on content.
  • Remove sensitive information from documents.
  • Electronically sign and date documents.
• Rating: 4.6 out of 5 on G2
• Price: The cloud subscription model is priced at $169/month for 6,000 transactions, while the on-premises model stays at $7900 annually per server. The product also has an annual pricing model and prepaid buckets based on the number of transactions.
• Editorial comments: With PrimDoc Viewer, you have the option to decide who is allowed to modify a certain file. It also has multiple formats that allow you to access any type of information. In this way, there is no need to download multiple tools to open the files since you can do it all with PrizmDoc Viewer. 

PrizmDoc Viewer has a dynamic and easy-to-use user interface. It allows us to examine the documents with a great variety of very useful tools. Automatic field detection on forms has worked effectively. Also, it is easy to add electronic signatures and make annotations. However, it has been observed that PrizmDoc Viewer sometimes presents problems to save information in its cloud system in real-time.

5. Zoho Docs

• Overview: Zoho Docs is a comprehensive online document management system used for creating, storing, sharing, and collaborating on documents of almost any format available.
• Meant for: Zoho Docs is the best collaboration tool for corporate professionals since the saved files can be shared with other people, especially with colleagues. It allows people to work together easily on the same document, sheet, and even presentation.
  
• Features:
  • Store and preview over 160 file types online — from documents to images, excel sheets, presentations, and even music and movies.
  • Share files securely within or outside the organization and set user permissions.
  • Sync offline files online, with easy drag and drop action.
  • Enhance productivity through real-time collaboration.
  • Edit text documents, spreadsheets, and presentations on-the-go with a built-in Office Suite. Directly attach documents and files to Zoho Mail.
  • Import documents from Dropbox and Google Drive without any trouble.
  • Visibility into the kind of storage used with advanced admin control.
• Rating: 4.4 out of 5 on G2.
• Price: The pricing model is based on a subscription model — starting from $5.00/month. The free trial is available for 25 users, with 5GB free per user. The standard subscription model costs $5/user/month, with 50GB storage per user, while the enterprise model offers $8/user/month, with 100GB storage per user.
• Editorial comments: Zoho Docs is easy to use, robust, online, and free for up to three users. It offers several features that are not found on free platforms. It is an efficient solution for companies that need a cloud and modification of documents in real-time. However, this platform does not do all the work. Therefore it is necessary to hire personnel in the area of accounting and administration to develop more detailed tasks.

Takeaway

Enterprise document management systems store, organize, and retrieve documents and record them in a digital form. Rather than wasting time and effort filing physical paper records, an EDMS keeps documents carefully managed and at your fingertips.

Above and beyond just storage and organization, EDMS raises data-use efficiency to the next level. Integration of an EDMS with document production and editing software streamlines the content creation workflow with all-in-one editing, sharing, and archiving space. This can even include scanned copies of physical documents for enterprise document management systems with text recognition.

With the growing digitization across industries post-COVID-19, it will be interesting to see how enterprises deploy EDMS into their framework. 

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