Beyond Record Keeping: The Future of Document Management in 2021

Friday, October 4, 2019

Data is central to any business and in the age of digitization, it is now one of the most powerful instruments for company growth and success. Document management is one of the most efficient levers used to harness and optimize the power of data, and it is forecast to be even more significant in the future.

According to Future Market Insights, the global document management software market will reach up to 28 billion dollars in the next few years. And it will accommodate some key transformations, particularly in addressing these major issues:

  • About 7.5 percent of all paper documents get lost.
  • Companies spend an average of $120 to find and replace lost documents.
  • Companies spend an average of $20 to file and store paper documents.

Moving to the Cloud

More and more document management systems are hosted on the cloud, which enables paperless storage, easier collaboration across multiple locations, and secure access to important data.

Multi-Platform Support

As handheld devices get increasingly incorporated into day-to-day business operations, multi-platform support for data management is projected to be on the rise.

More Scalability

Document management systems are currently being designed to allow more scalability, keep up with changing requirements, and ensure optimal operational efficiency through new technologies.

Intelligent Information Management

Artificial Intelligence will take front and center in contextualizing information to enhance document management, and will use more intuitive features.

Rabbit Office Automation (ROA) offers a Document Management System that will give you all of the above features and more. Contact our experts today to know your best options.

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