What an exciting time for technology and the world of paperless offices! As a DMS provider we were thrilled to read concrete evidence of the growth trends we’ve witnessed. The new Technavio ‘Global Document Management Systems Market Research Report 2015-2019’ predicts paperless movement will grow at a compound annual growth rate (CAGR) of 14.28% between now and 2019.
Why is DMS vital to organizations’ growth?
Document management enables organizations to manage tasks effectively and streamline processing of their documents across all departments. DMS includes every action taken with respect to creation, distribution, and deletion of documents. It helps centralize unorganized documents. Unorganized content makes it difficult for large organizations to use the available data and extract business related information. DMS manages the consistency of documents and protects documents from unauthorized use1.
What determines the market’s growth?
The growth of the market is reliant on the need for organizations to reduce documentation cost and save time through improved data handling. Our organization has seen growth over the last 15 years, but to know the market has a lot more growth to come is encouraging. It is a positive outlook not just for the industry, but for the offices who will adopt the technology.
What is driving this expansion?
One of the key drivers is the emergence of paperless offices. Where the use of paper is either entirely eliminated or at least greatly reduced, the need to manage online documents is becoming ever more important. This coincides with the growth of cloud-based solutions, notably cloud DMS. As on-premises DMS revenue decreases over the next few years, the adoption of cloud deployment is expected to grow.
To learn more about using DMS in your office, contact us today for more information!