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How Much Does Document Management Software Cost?

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Summary: Document Management Software Prices

Document management software services typically cost anywhere between $15 to $200 per month for subscription products and over $10,000 for self-hosted systems, depending on the size of your company.

Document Management Software Cost

Hosted Software as a Service, or SaaS platforms will be less expensive at the outset but often require a subscription at a “per user, per month” rate. On-site platforms, however, will require a high upfront cost for licensing purchases, installation, and training that can easily run over $10,000 dollars while lighter recurring fees are required for back-end support and maintenance.

Table of Contents

What is Document Management Software?

As more and more businesses are becoming environmentally friendly and going paperless, managing documents has become a 21st century challenge that requires deliberate attention and effort. Document management software systems are specifically designed to make storage, editing, access, sharing, and security of digital documents easy and streamlined.

Features and Benefits of a Document Management System:

1. Document Security

The right document management software can increase not only the efficiency of your organization, but your information security too, as data breaches and hacking become commonplace. This is especially important for companies in the finance and healthcare industries, or any business that works with sensitive information. Document management software can help administrators and managers limit access to documents and password protect important information to reduce the risk of a breach.

2. Document Sharing and Collaboration

Another benefit of document management software is the ease of collaboration. Many platforms come with features that allow multiple users to edit the same document while automatically tracking changes and handling version control. Collaboration can be managed via options like a check-in/check-out system, automated document routing, and more to ensure that users are not overwriting each others work and are always up to date with the latest versions of the document.

This can be a huge efficiency boost compared to sending entire documents back and forth via email—which can result in duplicates, full inboxes, confusion, and other obstacles that bog down streamlined coordination.

3. Document Storage and Organization

Keeping documents organized across users in a business can be incredibly difficult. Document management systems alleviate this by provide a central, intuitive, and often customizable, file organizing schema that makes folders simple to navigate and documents easy to find in order to save time. Not only does this make work easier for employees, it can also improve customer service and the client experience by cutting down on wait times.

Additionally, as with all digital storage, document management systems also provide the benefit of being safe from physical damage such as fire and flood.

4. Document Remote Accesss

Teleworking is becoming more and more common as smart devices and high data speeds are ubiquitous around the world. Working remote can be significantly more difficult without a document management system, as employees may be saving documents onto their local work hard drives that can only be accessed from the computer at their desk.

This means that employees require a robust and reliable way to access work documents across multiple devices—oftentimes when not physically in the office. Many document management software systems can provide secure access that connects remote employees to your organization’s file system, allowing them to safely work from anywhere.

Document Management Software Benefits

On-site Document Management Solutions Prices

Document management software typically comes in two forms: on-site solutions or a hosted SaaS.

On-site document management systems mean that hardware such as servers and hard drives are installed at your organization’s location and an internal IT department will likely be responsible for the day to day operation of the system. On-site platforms incur extremely high up front costs compared to SaaS solutions, ranging from $10,000 to $100,000 dollars depending on the size of your organization. Exact prices are typically quoted and tailored based on your specific needs after contacting the provider. There may be additional monthly or annual fees for long term support as well.

While this option is slowly losing popularity in favor of SaaS solutions, some large enterprises still opt for on-site services in order to maintain more control over the platform. The high upfront cost, however, can be prohibitive for small to medium sized businesses and startups.

Some companies that provide on-site document management solutions include:

SaaS Document Management Solutions Prices

Unlike on-site solutions, SaaS platforms typically require little to no physical installation and are run through a software program or even a web portal. These cloud based platforms usually charge a monthly subscription fee on a per user/per month basis, though you may find some that are free while including advertisements or paid extra features. The average monthly rate for SaaS document management platforms is between $15 to $200 dollars per user/month. While this is a recurring cost, it is typically more affordable for smaller companies or businesses that are just starting out who cannot afford the high, one-time costs of an on-site product.

Popular SaaS Document Management System Costs:

  • eFileCabinet: $15 dollars per user/month for their basic plan, $199 for their premium option
  • Hightail: $12 to $36 dollars per user/month with a free lite version
  • BlueDoc by Blue Project Software: One time purchase between $119 and $159 dollars per license (ie: per user)

Conclusion

Proper document management is a critical part for any business in the modern world. It not only cuts on paper waste, but improves processes and efficiency while ensuring security for sensitive information. No matter your budget, there is a document management software solution that fits your needs. Use our free comparison tool to learn more and get started.

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