# Top 5 Financial Document Management Software | Capterra > Looking for the best financial document management software? Check out the top five document management tools for accountants to manage financial data. Source: https://www.capterra.com/resources/financial-document-management-software --- Finance & AccountingAdministrative # Top 5 Financial Document Management Software By Preksha Buttan Preksha Buttan Writer Experience I am a writer at Capterra, where I've been providing expert insights to help small businesses find the right software solutions since Janua... [See bio & all articles](https://www.capterra.com/resources/author/pbuttan/) Published January 11, 2023 10 min read ## Keep your financial data organized with financial document management software. Picture this: you’re an accountant, and every day you spend hours managing financial statements, balance sheets, and other financial records. Since these documents often have sensitive data, you must store and organize them securely. If you’re having difficulty finding the best way to do that, you can use a [document management solution](https://www.capterra.com/document-management-software/). Document management software allows you to store financial documents in such a way that you can easily organize and retrieve them. The tool also allows you to password-protect your data and authorize selected users to access it. This article highlights, in alphabetical order, the five best financial document management software based on user reviews. For each product, we include overall user ratings along with the highest-rated parameter, review excerpts from industry professionals, and product pricing. [Read more](#methodology). ## 1\. Box #### Trial/Free Version - Free Trial - Free Version #### Highest-rated parameter Functionality - 4.48 #### Commonly used by Small and enterprise businesses #### Pricing $15 per user per month (billed annually) #### Device Compatibilty #### Screenshots _E-signature in_ [_Box_](https://www.capterra.com/p/148766/Box/) _(_[_Source_](https://www.capterra.com/p/148766/Box/)_)_ \* Analysis Accurate as of December 2022 **Here are some review excerpts from financial services professionals who have used Box for document management:** "We switched from using an in-house generated storage for documents and information, and the flexibility and integration has been a wonderful experience.I find that Box offers enough storage and the customized views make it easier for browsing and favoriting the most used spots." "Box is easy to use and the apps for computers and phones run smoothly.Additionally, the online interface is a great alternative if you are working on a PC without pre-installed software.The pricing of Box is appropriate with 10 GB of free storage for private use and discounts available for annual pre-payment." "Box Software is a reliable and encrypt cloud storage and content management software which enables users to share and store large files, centralise all files in a central location for easy access and sync files." "What I like most about Box is the ease of use.It is designed for all users in mind.Having all my files in one places makes it easy to access what I am looking for." "I most like that this software is very easy to use.I have used another product similar to box.com with essentially does the same thing and has all the same features, but Box.com is way more intuitive and easier to figure out without any direction." [Read all Box reviews here](https://www.capterra.com/p/148766/Box/#reviews). ## 2\. Dropbox Business #### Trial/Free Version - Free Trial - Free Version #### Highest-rated parameter Ease of use - 4.52 #### Commonly used by Small businesses #### Pricing $9.99 per month per user (billed annually) #### Device Compatibilty #### Screenshots _Files in_ [_Dropbox Business_](https://www.capterra.com/p/143068/Dropbox-Business/) _(_[_Source_](https://www.capterra.com/p/143068/Dropbox-Business/)_)_ \* Analysis Accurate as of December 2022 **Here are some review excerpts from financial services professionals who have used Dropbox Business for document management:** "The best thing about Dropbox is the easy integration into our existing devices.When installed in Windows 10 the Dropbox folder appears in the File Explorer as just another folder and is just as easy to use as if it is part of the hard drive.It integrated directly on our Epson Printer/Scanner and we can scan documents directly to Dropbox and work with the document immediately.File sharing with 3rd parties is as easy as emailing a link." "Dropbox is one of the best cloud storage that are very much suitable with business needs, as they also have feature for e-signature, Dropbox paper and large file size for transferring data and document.The integration with Slack also let us to sent file to the application easier." "Dropbox Business is one of my favorite internet tools since it makes hosting online meetings a snap.This program's medium simplifies file storage, sophisticated document sharing, and viewing.In my experience, this tool fosters team collaboration while preserving a secure environment.Dropbox Business is used to provide many levels of security for user files, and the application's security procedures are set to high standards to ensure that user data is kept safe." "Dropbox Business has offered me the best experience in managing files by offering a single platform where i can upload, organize, collaborate, share and store all files with ease.The accessibility of stored files is easy from anywhere at any time of need." "What i mostly like about Dropbox it's easy to use and it safeguards your files, and it also organise your files properly." [Real all Dropbox Business reviews here](https://www.capterra.com/p/143068/Dropbox-Business/#reviews). ## 3\. Google Drive #### Trial/Free Version - Free Trial - Free Version #### Highest-rated parameter Value for money - 4.77 #### Commonly used by Small businesses #### Pricing $1.99 per month per user (billed monthly) #### Device Compatibilty #### Screenshots _Shared drive in_ [_Google Drive_](https://www.capterra.com/p/161425/Drive/) _(_[_Source_](https://www.capterra.com/p/161425/Drive/)_)_ \* Analysis Accurate as of December 2022 **Here are some review excerpts from financial services professionals who have used Google Drive for document management:** "Easy to use, with the ability to store up to 15GB for free.Paid plans are inexpensive and allow for a wide variety of additional functionality.Great to use to share files with others via link or email.Also provides seamless integration with Google Cloud Platform services for data processing and analytics." "The features that I like the most are: free storage; accesibility for offline and online; option of privacy of a file.Yes, the product/software indeed is easy to use and user-friendly even for non-techy users.Yes, the integration processes when it comes to my work or other uses such as; accessing e-books, or free documents is smooth and easy to master." "I really like that Google Drive are compatible with all the device that i own, and i can collect back all the data on the cloud storage really easy every time i need it, and it process it very fast.It has two option for the sharing link, one for private access or and another is for public access which making the sharing process more flexible." "Google Drive offers huge cloud storage spaces which are capable of holding all of the organization files and documents.The encryptions and files protection features like virus scanning helps keep all the files and documents very secure from any security breaches including unauthorized access, malware, spam, ransomware or phishing.It also has very useful data backup functions which makes data recovery very simple.More to keeping your files and documents organized, it makes it easy to share them." "Google drive is similar to any other file storage platform, but you also have the added benefit of having the google productivity tools directly integrated.You can save all file types to Google Drive, and you can download FileStream, which allows you to interact with Google Drive via your operating system's file explorer." [Read all Google Drive reviews here](https://www.capterra.com/p/161425/Drive/#reviews). ## 4\. Microsoft 365 #### Trial/Free Version - Free Trial - Free Version #### Highest-rated parameter Functionality - 4.63 #### Commonly used by Small and enterprise businesses #### Pricing $6.99 per user per month (billed monthly) #### Device Compatibilty #### Screenshots _Microsoft Word in_ [_Microsoft 365_](https://www.capterra.com/p/227157/Microsoft-365/) _(_[_Source_](https://www.capterra.com/p/227157/Microsoft-365/)_)_ \* Analysis Accurate as of December 2022 **Here are some review excerpts from financial services professionals who have used Microsoft 365 for document management:** "Really convenient productivity program that has everything you may need for school, business or personal use.It has a decent amount of storage for your documentation to make sure you can access it anywhere.Has many capabilities that allow even the most basic user to be able to achieve best results and also has many advanced features for those wanting something more." "It enables our whole company to be more productive, collaborate easier and it saves us a lot of money on software costs." "Office 365  offers a range of products from email to cloud storage.They are constantly improving the products for easier use.User can access documents and emails from anywhereThe pricing is very reasonableIt works great for small to large companiesThe products are universal, you can collaborate with anyone from anywhere in the world.You can incorporate thousands of apps into the different productsit is user friendly" "Office 365 is a way of life for me and allows me to do my job and get great results.The ease of use allows me to be as creative as I want to be and most of the products provide templates and design ideas which are a great help.If you want easy to use products that you don't have to spend a lot of time trying to learn, then Microsoft 365 is perfect for you." "Easy and intuitive to use with keyboard shortcuts.Search functions are helpful and the centralized account location makes downloading the software easy." [Real all Microsoft 365 reviews here](https://www.capterra.com/p/227157/Microsoft-365/#reviews). ## 5\. Notion #### Trial/Free Version - Free Trial - Free Version #### Highest-rated parameter Value for money - 4.87 #### Commonly used by Small businesses #### Pricing $8 per user per month (billed annually) #### Device Compatibilty #### Screenshots _Homepage in_ [_Notion_](https://www.capterra.com/p/186596/Notion/) _(_[_Source_](https://www.capterra.com/p/186596/Notion/)_)_ \* Analysis Accurate as of December 2022 **Here are some review excerpts from financial services professionals who have used Notion for document management:** "The GUI looks simple but very elegant and modern.All the elements are smooth and easy to organize around.Editing experience was great." "Notion is such a giant step up from how I used to organize my work... (messaging myself on slack, or using desktop stickies).I love how customizable it is while being extremely easy to use.I picked it up in 5 minutes and immediately was more organized in my work.I haven't even explored the full power of Notion yet but so far I love the ability to create a new page and link it to the original page." "It's very straightforward to use, flesh out and implement as far as task and project management.I use it primarily at work, but also love it for personal goal setting and tracking." "First of all, the user interface is very friendly not only to the navigation itself, but also to the eyes, as it's minimalist and not distracting such other tools I have used.I really like how it doesn't feel over complex to use if you want to make simple documentation, and eventually in the need of more complex features it's easy to find tutorials.And there is always a useful template to help." "My team leverages Notion to work together and house all of our collective work.It's where we store training materials, as well as help plan new projects.It's got a ton of built-in features and I'm a big fan of how easy it is to navigate." [Real all Notion reviews here](https://www.capterra.com/p/186596/Notion/#reviews). ## What features do document management tools offer? Document management tools offer core features such as: - **Document capturing**: Scan and convert paper documents into digital files and move them to the software. - **Document storage**: Store documents in a centralized location for easy access. - **Full-text search**: Look for specific text in the entire document, not just sections.  All products listed in this article include the features mentioned above.  **Besides these core features, document management tools also commonly tend to offer:** - Access controls and permissions - Archiving and retention - Collaboration tools - Compliance tracking - Document classification - File conversion - File sharing - Optical character recognition - Version control ## How to choose the right document management software for your financial business Investing in a new tool can be a challenge if you don't know what to look for. To help you make a better choice, here are some factors that you should consider while selecting document management software for your finance business: - **Check document retrieval options**: It can happen that at some point you would need to retrieve an old document to verify transactions. When such a scenario arrives, you will require an option to search for deleted or archived files. Ask your vendor if their software offers an option that you can use to retrieve files whenever needed.  - **Analyze document organization features**: Your financial institution must have a huge number of documents to store. If you want to be able to look for a specific document, you want a tool that allows you to organize documents with the help of indexing or numbering or in the form of folders. Ask your vendor if their document management tool comes with these features. - **Look for a tool with a mobile app**: Document management software with a mobile app will allow you to access your documents on the go. The mobile app will also enable you to scan paper documents via a mobile device and create digital copies. If you think you can benefit from these features, then look for a financial document management solution with a mobile application. ## Common questions to ask software vendors before purchase Does the tool have data encryption features? Data encryption features in a document management system ensure that all the documents are stored in a safe environment. The tool automatically converts the data into unreadable code and only allows authorized users to access the files using an encryption key. Ask your vendor if their tool has this feature to ensure your files are safe from data theft. Does the tool allow you to search for documents using keywords? Since you will be storing tons of documents, you need to ensure that you can find a particular document whenever you need it. Ask your vendor if their tool allows you to search for specific files using text or keywords. Does the tool allow you to restrict access to documents? The documents you manage as an accountant could contain sensitive information such as the business’s revenue data or employees’ salary details. Since you would not want this information to reach the wrong hands, ask your vendor if their document management solution has access rights management. Using this feature you can restrict who has access to your financial records. ## Capterra's 2026 Software Buying Trends Report ### Download our 2026 Software Buying Trends Report to see how successful software adopters avoid disappointment and how your business can, too. * * * **Methodology** To be considered for this list, products had to: - Have at least 20 unique product reviews from users in the financial services industry, published on Capterra between November 2020-22. We selected the five products with the highest ratings to feature in this article. - Offer the following core document management features: document storage, document capture, and full-text search. To determine which size businesses each product is “commonly used by,” we check if at least 20% of reviewers come from a particular business size, and only then classify the product as having customers from that business size. Review excerpts are passages extracted from longer reviews written by verified reviewers. We obtain these excerpts by applying an algorithm that considers factors including, but not limited to, length, topic coverage, and thematic relevance. Excerpts are evaluated for positive or negative sentiment and receive a sentiment score. Excerpts represent user opinion and do not represent the views of, nor constitute an endorsement by Capterra or its affiliates. Excerpts are not edited for clarity or grammar. Read more about our editorial independence. * * * Looking for Document Management software?Check out Capterra's list of the [best Document Management software](https://www.capterra.com/document-management-software/) solutions. ### Was this article helpful? * * * ## About the Author [### Preksha Buttan](https://www.capterra.com/resources/author/pbuttan/) Preksha Buttan is a writer at Capterra. 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