It doesn't have search functionality (well, it does, but it's basically useless) but allows to set categories and tags, which is more than enough for me.
There's an added issue with this kind of solutions, in most cases you still need to keep the original. Having them scanned is great for record keeping and for communicating with you own accountant, but if there is a problem (tax audit, proving ownership, etc, etc) you'll have to produce the paper original.
I've even had kafkaesque situations where I was asked for the original of a document that was only available online. In those cases I had to present a printed copy of the document and a signed document (from the bank in this case) saying that they didn't send hard copies/originals.
> [...] maintain books and records by using an electronic storage system that either images their hardcopy (paper) books and records, or transfers their computerized books and records, to an electronic storage media, such as an optical disk.
Isn't the solution just banker's boxes in the attic to house the originals? I've never quite thought of that as an issue. Every quarter or so I move a stack of papers from the home office into a box I'll probably never have to retrieve anything from.