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Document management software facilitates the storage of documents and allows employees to access it at any time. This helps speed up responses to customer inquiries and speeds up the completion of crucial business processes, as well as helping businesses to be agile as their needs change. Document management systems are also able to prevent hidden time-sinks that reduce productivity. They let people collaborate across departments, offices and even across locations.

Modern document management systems can manage various formats of documents, both digital and paper. Most often, these documents are scanned into the system or uploaded either manually or automatically. Many systems contain Optical Character Recognition (OCR) software that converts text based on images into searchable, editable content. Search by document type Keywords, index values, and full-text.

Many systems also provide the ability to control version. This allows for the complete history of changes to documents so that it is easy to determine who made what change, when and why. This is especially helpful when several team members are working on the same document.

A majority of software systems also allow to integrate your accounting software, enterprise resources planning (ERP), and other solutions. This enables you to manage the entire process of document creation from beginning to end with one tool. This ensures compliance with laws and regulations regarding the preservation of documents within your company.