Document management (DM) is a function in which applications or middleware perform data management tasks tailored for typical unstructured documents (including compound documents). It may also be used to manage the flow of documents through their life cycles.
Long-established document management products have traditionally focused on managing a small group of documents vital to the business. However, the DM market is transforming into a two-tier market, with new competitors building out horizontal capabilities to manage the many documents created in the course of everyday work life.
Today, enterprises are looking for ways to cut costs, reduce risk, and enable competitive opportunities, resulting in new market opportunities and competitive forces. Vendors are scrambling to compete by leveraging their existing market positions as well as experimenting with new approaches such as open source and software as a service (SaaS).