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Document management software facilitates the storage of data which allows employees to access it at any time. This allows faster responses to requests from customers as well as speeding up the execution of key business processes, as well as helping companies to adapt quickly when their requirements change. Document management systems can also help to prevent hidden time-sinks that reduce productivity. They enable people to collaborate across departments, offices and even across locations.

Modern document management systems are able to handle many different types of files, both paper and digital. Typically, these documents are scanned into the system or uploaded either manually or automatically. Many systems are equipped with Optical Character Recognition (OCR) software, which converts text in images into editable and searchable text. Based on the specific requirements of your business search for the ability to search by document type index values, keywords and full-text.

Many systems provide the option of version control. This allows for an exhaustive history of changes to a document so it’s easy for you to know who made which changes, when and why. This is particularly useful when you have several team members working on the same document.

Many systems dokusoftware.com/virtual-data-room-software-for-ipo/ also allow you to integrate your accounting software, enterprise resources planning (ERP) and other software. You can manage the entire lifecycle of a document from beginning to end with just one tool. This helps ensure compliance with regulations and laws regarding the preservation of your company’s records.

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