From Paper to Digitization
The DMS market is emerging as a huge market opportunity. A large number of offices are still paper based and this is what makes India a key market for DMS solutions. Yet, the growth of this solution is not how everybody had expected it to be –
The world around us is changing every minute. It is becoming hard to predict which new or disruptive innovations will emerge tomorrow. Until a few years ago, we had never heard of Cloud Computing, and, today, it seems like no enterprise architecture is complete without a Cloud strategy. With the Digital Transformation wave fast catching up with global enterprises, digitization and process automation have now become essential for productivity and work efficiency. The nexus of forces – SMAC (Social, Mobile, Analytics and Cloud) – is further fuelling this global phenomenon wherein almost all paper-based data is getting converted into digital information. They are proving to be the latest game-changers with regard to driving accessibility, flexibility, scalability and agility, reach and impact.
Document Management System is growing as one of the most sought-after technologies that is helping organizations to stay agile, reduce costs and boost productivity.
A peep into the DMS market…
The market for DMS is rapidly growing across sectors with over 13% CAGR and this trend is expected to continue for the next few years. The current size of the DMS market is pegged at $250 million and will grow by 30% every year. The key verticals adopting DMS in India are Financial Services, Banking, Insurance, Telecom, Retail, Consumer Goods, Manufacturing, Healthcare, Life Sciences and Utilities, among others. “Though BFSI sector is leading the demand for DMS, both in India and around the world, as they grapple with stringent policies and tightening regulatory mandates, the DMS market has also seen a lot of traction within the Government sector and Public Sector enterprises. With organizations keen on outsourcing most of their operational processes, there is heightened demand for Enterprise DMS solutions in the SSC and BPO domain as well,” observes Virender Jeet, Sr Vice-President – Technology, Newgen Software...See more
The world around us is changing every minute. It is becoming hard to predict which new or disruptive innovations will emerge tomorrow. Until a few years ago, we had never heard of Cloud Computing, and, today, it seems like no enterprise architecture is complete without a Cloud strategy. With the Digital Transformation wave fast catching up with global enterprises, digitization and process automation have now become essential for productivity and work efficiency. The nexus of forces – SMAC (Social, Mobile, Analytics and Cloud) – is further fuelling this global phenomenon wherein almost all paper-based data is getting converted into digital information. They are proving to be the latest game-changers with regard to driving accessibility, flexibility, scalability and agility, reach and impact.
Document Management System is growing as one of the most sought-after technologies that is helping organizations to stay agile, reduce costs and boost productivity.
A peep into the DMS market…
The market for DMS is rapidly growing across sectors with over 13% CAGR and this trend is expected to continue for the next few years. The current size of the DMS market is pegged at $250 million and will grow by 30% every year. The key verticals adopting DMS in India are Financial Services, Banking, Insurance, Telecom, Retail, Consumer Goods, Manufacturing, Healthcare, Life Sciences and Utilities, among others. “Though BFSI sector is leading the demand for DMS, both in India and around the world, as they grapple with stringent policies and tightening regulatory mandates, the DMS market has also seen a lot of traction within the Government sector and Public Sector enterprises. With organizations keen on outsourcing most of their operational processes, there is heightened demand for Enterprise DMS solutions in the SSC and BPO domain as well,” observes Virender Jeet, Sr Vice-President – Technology, Newgen Software...See more
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