As businesses look for ways to eliminate complexities in handling critical documents, the document management system market is seen to continue its growth momentum, with more enterprises joining the trend. 

According to a recent study by consulting firm Emergen Research, the size of the document management system market in 2021 grew to $5.40 billion. This, as the pandemic provided a push for technology adaptation, with companies and organizations now exploring digital tools to improve their operations. 

While COVID restrictions further ease in both local and global scenes, the market is expected to register a compound annual growth rate of 11.2% until 2030. 

“The steady market revenue growth of document management systems can be attributed to the increasing need to streamline business operations. Today’s businesses are overrun with information, including both internally produced material and papers and files obtained from clients, business partners, and suppliers,” Emergen Research stated. 

The group said that if a business fails to embrace a document management framework, the time that employees should have spent focusing on less trivial tasks is wasted on finding critical documents filed in physical storage. This is counterproductive and impractical as the manual processing of documents also requires more space for storage. This can also expose them to human error, further slowing the workflow.

That’s why Emergen Research highlighted that with a document management system, the delivery of information to clients, business partners, or staff members would go swiftly without facing unnecessary deadlocks that could hamper one’s growth. The system also ensures that even if the physical copy is lost, damaged, or missing, the business equipped with this tool has a backup. 

Aside from increasing productivity and upgrading document management, companies also turn to this digital tool to save expenses, Emergen Research noted. 

“Better and more predictable business outcomes are guaranteed by streamlined and organized business processes. Understanding company processes and streamlining them are the first steps in continuous business improvement,” the report said. 

Emergen Research said it is high time that organizations that still rely on manual processes invest in document management systems to have control over who can access their files. Once a crucial document has been compromised, a business’ reputation may be shattered as well. 

From creating, organizing, storing, and securing documents with end-to-end encryption standards, businesses can turn to Monstarlab Philippines’ Attaché Docs, one of the country’s leading digital solutions providers.

It has a team of experts who can cater to the requirements of local businesses—transforming their manual paperwork into digital format. With about 2.3 million records stored, Attaché Docs has become a trusted partner for more than 10,000 active users. 

Talk to the Attaché Docs now and see how a document management system can help your business. 

To know more, message us to schedule a free demo: Contact us here