6 Best Records Management Software in 2024

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Written By Haisam Abdel Malak
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In today’s rapidly evolving industry specific regulations, organizations are forced to seek out the perfect records management software to ensure efficient records keeping. In this guide, I ranked and reviewed the 6 best records management software, along with my top 4 choices, so that you can pick the best one.

The best records management software are Alfresco, SharePoint, Hyland, OpenText, IBM Enterprise Records, and Laserfiche.

Records management software is a digital tool designed to help organizations effectively manage their records throughout their lifecycle. It aims to streamline the creation, capture, storage, retrieval, retention, and disposal of records in a systematic way.

From compliance with regulatory standards to optimizing workflows and ensuring collaboration, the choice of RM software can significantly impact an organization’s efficiency and competitiveness.

Let’s get started reviewing in detail the list of records management software.

Which software is best for record-keeping?

Best ForUse CasesFree Trial
AlfrescoSmall to large businessesGeneral, banking and insurance, healthcare, government, manufacturingYes
SharePointSmall to large businessesGeneralYes
HylandMedium to large businessesGeneral, Insurance, Law firms, etc.Yes
OpenTextMedium to large businessesGeneral, Oil & Gaz, legal, banking, healthcare, automotive.No
IBM Enterprise RecordsMedium to large businessesGeneralNo
LaserficheSmall to medium businessesGeneral, government, education, and financial servicesYes

Top records management software for your business in 2024

Here are my picks for the best software to help you manage business records for an efficient record keeping practices.

  1. Alfresco
  2. SharePoint
  3. Hyland
  4. OpenText
  5. IBM Enterprise Records
  6. Laserfiche

1- Alfresco

Alfresco (part of Hyland family now) is a premier records management software that provides an advanced capabilities tailored to promote a better record keeping experience within your organization. This open-source software covers all the principles of records management and has a complete document management set of capabilities such as metadata management, version control, audit trail, categorization, and fast retrieval.

Alfresco’s access controls ensure data security, enabling precise permission settings to safeguard sensitive information. The software excels in retention policies, allowing organizations to enforce regulatory compliance and manage the complete flow of records effortlessly.

In addition, it provides the ability to automate document centric processes to increase efficiency and automate repetitive tasks that are draining your employee’s productivity.

Key Features

  • Document workflow
  • Fine-grain-level role and permission
  • Rest API for integrations
  • Easy customization
  • Cloud sync capability 
  • Powerful auditing system

2- SharePoint

Microsoft SharePoint provides a comprehensive list of features to help organization manage their document and records in the moist effective way possible. It allows users to create, store, and collaborate on records within a centralized repository.

The process involves the critical step of declaring documents as records, ensuring that only relevant records are treated as such. Leveraging event-triggered retention, the software enables a proactive approach to managing records, allowing organizations to define criteria for periods based on specific events or triggers.

Key Features

  • Migrate and manage requirements with a file plan.
  • Establish deletion policies within the record label.
  • Label content as a record.
  • Access management.
  • Smooth integration with Microsoft products.
  • Real-time collaboration.

3- Hyland

Hyland OnBase offers a host of powerful benefits, encompassing the entire lifecycle of records management, from initial document creation to final disposition. Its ability to treat multiple documents as a unified record enhances consistency and precision, while its embedded, rules-based conditions automatically declare documents as records.

This automated approach ensures timely disposal of eligible records, either automatically or after necessary approval, effectively mitigating legal risks tied to the accumulation of expired records.

By managing all electronic records within an enterprise’s OnBase ECM solution, it provides a comprehensive and efficient solution for organizations seeking to optimize their records management processes.

Key Features

  • Rule based automatic declaration of records.
  • Ensures timely disposal of qualified records
  • Customizable and easy to use
  • Records categorization and labeling

4- OpenText

As its core, OpenText is a content services platforms that deliver the capabilities needed for organizations in any industry to manage the full lifecycle of information. This records management software makes it easy to specific rules to automate the destruction or archiving of records based on a schedule or approval cycle.

OpenText Records Management is a feature-rich solution that offers all the functionality your organization needs to maintain security, reduce risk and ensure compliance, while providing a seamless and transparent user experience.

Key Features

  • Simplify and automate records maintenance and reduction
  • Ensure the long term preservation of critical content
  • Visualize information governance via dashboards
  • Manage physical records alongside electronic record
  • Automatically apply information governance policies

5- IBM Enterprise Records

Regarded as a premier records management software, IBM Enterprise Records stands out for its exceptional capabilities, offering a holistic solution encompassing content management, efficient processes, and seamless connectivity.

Its primary goal is to facilitate compliance management for both electronic and physical records, making it an invaluable asset for organizations seeking to uphold regulatory standards with utmost precision. In addition, it helps automate records management related processes to help implement best practices and reduce human-related errors.

Key Features

  • Support for regulatory compliance
  • Efficient federation capabilities
  • Automated records capture
  • Manage disposition review and approvals
  • Create file plan folders

6- Laserfiche

Laserfiche records management software is a comprehensive solution that adeptly navigates the entire record flow, recognizing that the utility of records evolves from creation through retrieval, storage, and ultimately disposal.

It empowers organizations to establish precise record management definitions, including maintenance schedules, cycle definitions, and cutoff instructions, all while meticulously managing record security.

The software offers robust organizational capabilities, enabling the arrangement of records into purposeful folders and series, which crucially determines archiving requirements and life cycle stages.

Laserfiche facilitates the seamless creation and configuration of record series and folders, providing a structured framework for storing records. It further extends its functionality to enable essential actions on record folders and records themselves, encompassing freezing, transfers, and final dispositions.

With Laserfiche, organizations gain a powerful tool that streamlines the entire records management process, ensuring compliance, efficiency, and effective IG.

Key Features

  • Full RM administration
  • Automatically retain or destroy records based on business rules
  • Powerful search cutting down time to locate records
  • Audit trail, backup, access control, and more

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