What is an electronic document management system?

Wikipedia defines a document management system (DMS) as a computer system (or set of computer programs) used to track and store electronic documents and/or images of paper documents

Why Document Management?

Employees tend to spend a lot of time trying to find information already available in the business. This time spent on searching, sorting, creating and re-creating redundant documents results in countless wasted hours and money. Such inefficiencies can be eliminated with the use of a Document Management application.