Feature
The document management system market is experiencing rapid growth, with the global market size expected to grow from $9.26 billion in 2024 to reach $17.45 billion by 2029, a 13.51% increase. As organizations continue to prioritize streamlined operations, several document management solutions have emerged as industry leaders.
Document management is essential for businesses looking to organize, secure and streamline their digital documents. And make no mistake — businesses today still very much are document-based. In Reworked's ongoing State of the Digital Workplace research, document management has been named the "most important tool" in the digital workplace for six years running.
A well-designed system should offer key features such as easy document storage, efficient search capabilities, robust security, version control and seamless collaboration tools to enhance productivity and ensure compliance.
Tools like M-Files, DocuWare and SharePoint offer more than just storage — they also have features like version control and automatic information tagging to ensure documents remain up to date and easily findable, Edstellar CEO Arvind Rongala told Reworked. Integration is also important, he added. Document management systems must work well with tools like Slack and Microsoft Teams to keep processes running smoothly and prevent work from being repeated.
Rongala argues that cloud-based solutions offer the best protection and ability to scale. Solutions like Box protect private data and give teams safe access to their files 24/7. Achieving this balance between control and accessibility is key to successfully scaling.
With the increased reliance on digital information, adopting a document management system can significantly enhance operational efficiency, reduce costs and prevent information loss. While there are many options to choose from, below are some of the most widely used (in alphabetical order):
Table of Contents
- 1. Alfresco
- 2. Box
- 3. DocuWare
- 4. Google Workspace
- 5. Laserfiche
- 6. M-Files
- 7. OpenText
- 8. Microsoft SharePoint
- Document Management Continues to Evolve
1. Alfresco
Alfresco, now part of Hyland Software, offers a comprehensive document and content services system designed to efficiently capture, store, organize and retrieve digital content. It provides robust features such as advanced search, metadata tagging, version control and optical character recognition (OCR), which improve document accessibility and management. Alfresco also includes workflow automation tools to streamline tasks like approvals and reviews, enhancing productivity by reducing manual processes.
The platform is highly customizable, supporting integration with applications like Microsoft 365, Salesforce and SAP, and can be deployed either on-premises or in the cloud, offering scalability for various organizational needs. With its open-source foundation, Alfresco enables tailored configurations to meet specific business or compliance requirements.
2. Box
Box provides a robust cloud-based document management solution that securely stores, manages and supports collaboration on digital files. Key features include cloud storage accessible from any device, detailed access controls and automatic version control, enabling secure, organized file management.
It integrates with tools like Microsoft Office 365, Google Workspace and Slack for real-time editing and offers advanced sharing options with link management and protection features. Enhanced search capabilities, powered by metadata tagging, make document retrieval easy, while automated workflows streamline task management, such as approvals.
Box also prioritizes compliance with industry standards, offering encryption and audit trails to meet regulatory needs. Integration with other popular applications, along with mobile and offline access, ensures seamless, on-the-go productivity for teams. It's moved into the AI space in recent years, but still maintains the same level of security, privacy and compliance.
Related Article: Enterprise Content Management Gets Disrupted, Again
3. DocuWare
As another cloud-based document management system, DocuWare helps businesses organize, secure, and automate document workflows. Its primary features include powerful document capture and indexing tools, such as Optical Character Recognition (OCR), making documents easily searchable. This system allows users to store and access documents from anywhere, offering flexibility for remote work environments.
One of DocuWare's main advantages is its ability to automate document-centric workflows, improving efficiency by reducing manual tasks and speeding up processes like document approval and routing. Security is a top priority, with robust features like user access controls, audit trails and encrypted storage to meet compliance and privacy requirements. Additionally, DocuWare integrates seamlessly with over 500 business applications, facilitating smooth information flow across departments.
4. Google Workspace
Although it is not a pure-play document management system, Google Workspace, which includes tools like Google Drive, Google Docs, Sheets and Slides, uses Google Drive as its central cloud-based storage platform. Drive stores, organizes and provides access to documents from any device. Its strength lies in its support for real-time collaboration, enabling multiple users to work on documents simultaneously, track changes and leave comments.
Google Workspace also provides version control, with views of document histories and the ability to restore previous versions. Criticisms of the system include its limited scalability and lack of robust document control mechanisms. However for smaller organizations, the platform's advanced search capabilities and integrations with various third-party apps makes it an effective and scalable solution for collaborative document management.
Related Article: Closing the Gap Between Value and Functionality in Digital Workplace Tools
5. Laserfiche
Laserfiche is an enterprise content management and process automation platform designed to help organizations manage and secure digital documents while optimizing workflows. It offers centralized storage and version control to make document management more efficient, as well as advanced search, metadata tagging and OCR to speed search and retrieval.
Laserfiche’s automation tools streamline repetitive tasks, enhancing productivity and reducing errors. The platform is built to support regulatory compliance with features like access controls, encryption and audit trails. Integration with Microsoft Office, Salesforce and others allows seamless document management within existing workflows, and mobile access supports productivity for remote work.
6. M-Files
M-Files takes a slightly different approach to document management, in that it organizes content with a metadata-driven approach rather than in traditional folders. The approach means customers can find documents by attributes like client name or project type without needing to know specific locations. When combined with the platform's integrations with existing storage platforms, means the system offers a unified access point for documents.
M-Files also provides version control, maintains document history and ensures collaboration only takes place in the latest versions of files. Workflow automation streamlines processes like approvals and reviews, while robust compliance features, including access controls and audit trails, help organizations meet regulatory standards. AI-powered search capabilities further enhance efficiency by quickly locating relevant content. M-Files is available on-premises, in the cloud or in a hybrid model, providing organizations with flexibility when it comes to deployment.
Related Article: What Is Intelligent Document Processing (IDP)?
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7. OpenText
OpenText Content Suite is a comprehensive enterprise information management solution designed to help organizations control, manage and secure digital content across their operations.
Document and record management is supported with strong compliance features, workflow automation and enhanced collaboration through tools for secure content sharing, document versioning and audit trails. Its advanced search capabilities allow employees to find information quickly, and it too integrates with major enterprise software like SAP, Microsoft and Salesforce.
Additionally, OpenText Content Suite includes robust security features like role-based access and encryption, ensuring sensitive data is protected and compliant with data privacy laws. Available both in the cloud and on-premises, it also offers mobile access.
8. Microsoft SharePoint
With a reported 343 million plus Microsoft 365 users worldwide in 2023, SharePoint has the insider advantage. Its seamless integrations with the rest of the platform make it effective for collaboration and workflow automation.
Key features include automatic version control, industry-standard compliance, data security through granular permissions and advanced collaboration tools, such as real-time co-authoring and Microsoft Teams integration. It also provides extensive customization options for document libraries, metadata and workflows. SharePoint’s efficient search capabilities, powered by AI, facilitate quick document retrieval. While a comprehensive solution, effective implementation and user adoption are crucial to fully leverage its benefits.
SharePoint’s feature set extends beyond document management, supporting broader enterprise needs such as content management and business process automation. It includes tools for building intranet portals, enabling organizations to centralize communication and resources. Workflow automation is also a core feature, allowing businesses to streamline processes like approval chains and notifications through Power Automate integration.
Document Management Continues to Evolve
These document management solutions are characterized by their cloud capabilities, AI-powered features, robust security measures and emphasis on collaboration. As the market continues to evolve, we can expect further incorporation of technologies like machine learning for improved document classification and predictive analytics for document lifecycle management.
While paper may be losing its relevance, documents remain essential, said SER Group CEO John Bates. Yes, people still appreciate the tactile nature of documents, and in some regions — such as Germany, Japan and the US — paper and wet signatures remain commonplace. However, those holdouts remain the exception, not the rule.
"We're also beginning to break free from the rigid frameworks and standards set by tools like Microsoft Word and PowerPoint that have dominated for years,” he said. "2025 promises to bring exciting developments in new styles of interaction. Now we have the opportunity to move from reading and editing a static document to questioning and delegating a sentient document.”