Document management software allows organizations to collect, organize, store, and retrieve files in any format. Its powerful features enable an efficient workflow and decrease manual data entry tasks. They also automate business processes. It also eliminates inconsistent information, communication issues and inefficient delays, while helping teams work together with confidence.

Documents can be tagged to help users organize information and locate it easily, whether they’re scanned in or digitally sourced. This functionality streamlines the lifecycle of a document, with workflows that move it through predefined steps.

Document management systems are a great solution for employees who work on projects that are not in the office or in a client meeting or conference call. They offer a central repository where files can be shared and accessed from any location. It also eliminates the need to search for files across multiple devices, apps, or cloud-based platforms. This is a major time-waster and could lead to wasted opportunities and increased frustration.

Many document management solutions offer mobile apps that allow team members to quickly collect information from remote locations and then sync to the central repository investor online data room once internet connectivity is restored. The streamlining of workflows and a secure, user-friendly interface also help businesses increase productivity. Hightail, for example offers a no-cost plan as well as affordable plans for businesses that are creative and rely on large video or image files. It also supports offline mode so that team members can continue to work even without an Internet connection and upload their updates when they return to work.