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The Top Three Document Management Software Solutions for Entrepreneurs in 2020

These days, the odds are stacked against entrepreneurs. According to the US Bureau of Labor Statistics, one-fifth of businesses fail in their first year, and that number increases to one-half by five years. There are many reasons for this failure rate, including hefty competition, difficult supply markets, and the amount of work involved. Of all the causes, though, one of the most important and easiest to address is document management.

Small businesses rely on keeping good track of documents to handle client outreach, project management, and financial follow-up. If this aspect of your business is in disarray, then you’re on course for difficulties, added stress, and potential failure. To help entrepreneurs turn their first five operational years into successful and profit-generating years, we’ve collected three top personal document management software solutions.

Microsoft SharePoint

Digital businesses with employees and partners who frequently work offsite or need to share documents with clients can benefit by incorporating SharePoint into their workflows. This cloud-based document storage solution integrates with Windows so that you can access your cloud-stored documents through Windows Explorer as if they were on your local hard drive. As a bonus, this integration extends to Microsoft Office programs, so you can open and edit documents directly on the shared drive.

While this program is powerful, you will need assistance to set it up and maintain it. Generally, businesses must contract with IT firms to provide ongoing support, especially as you upgrade computers or add staff members. Additionally, you’ll need to consistently ensure that your antivirus software is up-to-date, as corrupted documents can still pose security risks for cloud-based networking solutions.

Kofax Intelligent Operation Platform

Gain control of your critical document capture, management, and printing procedures with this suite of powerful programs including Power PDF, PaperPort and OmniPage. Together, these programs can improve how your business manages document analysis and storage. You can automate routine tasks with Robotic Process Automation, analyze incoming data from your customers with TotalAgility, and make it easier than ever for your clients to scan and submit documents such as driver’s licenses and bill payment stubs with the Mobile Capture Platform.

Each aspect of the Intelligent Operation Platform offers businesses unique advantages and capabilities. One of the most impressive aspects of this software is the included OCR (optical character recognition) technology, which can turn your scanned documents into text files that are compatible with your word processors and Power PDF. The Kofax support team is trained to offer exceptional support for those who want to find the ideal set of programs for their business’s needs. As your business grows and your needs change, you will continue to unlock useful features that enhance your business practices, letting you “work like tomorrow”.

Dropbox Business

Dropbox has been a popular name among digital document storage and management for years. One of its upgraded options is Dropbox Business, which offers businesses a user-friendly, simple interface. This software is a good starting point for businesses that want the flexibility of cloud-based document storage and haven’t yet determined how best to create workflows.

This solution is an affordable and elegant one for your digital storage needs, and includes technology for mobile scanning to flat PDF. Unlike Microsoft SharePoint, you cannot edit the documents online but must do so locally on individual computers. The lack of private key management can also make it less ideal for businesses that need to manage different levels of document management between various employees.

Selecting a Software Solution That Works for Your Business

Each business has unique needs, and when considering software options to improve your operations, it’s essential to learn the advantages and disadvantages of each. The most successful businesses are those that review their workflows and seek improved ways to manage their documents and customer interactions. Without proper document management, your team must work harder at various tasks that don’t immediately generate revenue. If you want the best chance to succeed in a competitive market, then you should take advantage of software solutions like these to most effectively use your time.