1st document management - Version 1.02.01 What is document management? We can read in encyclopedia that document management system is a computer system used to track and store electronic documents and/or images of paper documents. For efficient functioning of any organization, it is essential to have proper document management software. Document management software controls the life cycle of documents in your company or organization. This special software controls how they are created, reviewed, and published. The tools you use for document management should be flexible enough to allow you to tightly control a document's life cycle but also to let you implement a more loosely structured system, if that better suits your enterprise.An effective document management software specifies: what types of documents and other content can be created within an organization; what template to use for each type of document; where to store a document at each stage of its life cycle; how to control access to a document at each stage of its life cycle; how to move documents within the organization as team members