![]() It’s even more important to emphasize that, in this way, the processes are also made safer: the risks related to physical document storage, to the loss or damage during transfers, to the risks of counterfeiting and of data leaks or losses in general are all reduced. Increased safetyĭTM systems save you time and money, while providing efficiency. This difference doesn’t require much commentary! There is also time saved on the customer front! This aspect has a significant impact on the Customer Experience (we’ll return to this point later in the post). In fact, by digitizing and automating processes, you save time as well: and we know how the two aspects are closely related.Ī concrete example: for processes related to signing documents, the average time estimated using Digital Transaction Management systems is 37 minutes, compared to the average of 5 days to close the same procedure with traditional systems (source: ). ![]() The savings aren’t just in terms of money. The first advantage of using Digital Transaction Management systems is the most intuitive, simple, and direct one.ĭigitizing the flow of documents and transactions leads to financial savings because the costs of printing, communication, archiving and certification can be eliminated (as well as the related personnel – internal and external – employed in these operations). Now, as promised, we’ll take a look at the 5 main advantages that companies can gain from DTM systems. In this sense, there are many opportunities to be seized. In short, we’re talking about figures that show extensive growth and which still seems to be at the beginning of its soaring curve. In 2021, the global Digital Transaction Management market was valued at $8.04 billion, and it’s estimated to grow from 2022 to 2030 at an average annual rate (CAGR) OF 25.5% (source: ). Before isolating the 5 that seem most important to us, here’s a telling statistic from a recent study: In concrete terms, it’s about electronic transactions, document transfers, certifications, secure and dematerialized archiving (and we’ll come back to dematerialization at the end of this post), digital signatures, authentications, legal aspects of “non-repudiation”, co-browsing between company and customer… Without getting too technical, these are only some of the most important aspects.įrom this overview you can already see that we’re talking about a very broad field, and that the advantages of implementing DTM systems are many, diverse, and interconnected. Let’s get right to the point: Digital Transaction Management is a broad category of cloud services built to digitally manage document-based transactions. ![]() ![]() ĭigital Transaction Management – what is it? Finally, we’ll focus on an important starting point that is at the base of everything: document dematerialization. In this post, we want to focus extensively on this topic: we’ll do so by starting with definitions then, we’ll analyze the advantages and opportunities of Digital Transaction Management systems. It is here, in this 360-degree paradigm shift, where the true power of digital transformation lies.ĭigital Transaction Management (DTM) systems are strategically and decisively part of this type of change…even if they don’t always get the attention they deserve. To be a true revolution, Digital Transformation must be mature, and it must involve all business processes and all the internal and external workflows of a company. Digital Transformation can’t just be a slogan or a flag to wave. ![]()
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