Documents that are related to tax documentations and sales records, are of high importance to any organization. Right storage, access and classification of files are only a few of the requirements which enterprises are required to meet for taking advantage of what these documents narrate & represent. Most of the enterprises preserve their documents in numerous locations such as a vault, filed by type or even in their office drawers. In the present days, there is a new type of document management. This involves the implementation of technologies that include web-based deployment, cloud storage, & automated workflows.

The implementation of technology in this seemingly simple but imperative business process shows clearly that enterprises have started to make advances in paper documents. Especially, paper documents are slowly becoming out of date owing to surge in the usability of online tools for accessing & managing online documents & even incorporating e-signatures. This is where Document management systems (DMS) come into the picture as they provide undeniable capabilities such as from managing workflows to securing documents. The advantages of a DMS are sufficient for enticing such organizations to employ such a platform. If you are still unsure of the value that you would obtain, then these latest trends in DMS will help you realize how the future of organizations can change for the better with the implementation of this platform.

 Cloud Storage

A Statista report revealed that 2021 would witness more than USD 170 billion go to the cloud services market. This trend in cloud services is triggered by the fast-paced migration of files and data from on-premise servers of organizations. For DMS, cloud services are crucial in order to provide a platform which will allow users to quickly access their documents, accurately categorize each file according to its content & easily add notes to identify one from another. These features are the reasons why the best DMS software has gained and will continue to gain a huge client base for as long as cloud services are in demand.

LogicalDoc offers a cloud document system which provides a secure way to collaborate, create as well as share knowledge with people in various locations. It allows clients and suppliers to access your documents securely from anywhere, without VPNs or complicated infrastructure.

Mobile access

Apart from cloud services, Document management trends also show that mobile access is among the features which will propel these systems to success & profit. Another major selling point of DMS is its ability to access documents anytime, anywhere with the help of their mobile phones. This selling point is significant owing to the latest & upcoming trends in technology for revealing that the improvement of smartphones coupled with internet access continue to enter the market.

Docsvault offers Docsvault mobile app – a mobile device client for android & IOS tablets & smartphones. This mobile document management app facilitates users to securely access & search all their documents securely that is stored on the Docsvault server in your office.

Affordability

Another latest trend in DMS is the increasing affordability of these software/platform. With several types of DMSs which continue to infiltrate the market, it is anticipated that the coming years will invent and come up with numerous options with an affordable price tag. Considering the colossal growth of the DMS market, the most strategic option for companies & developers is to reduce the price without sacrificing its features. Most of the developers have recognized the validity of this strategy & as a consequence, most of the document management systems & its costs can be tailored as per the needs of the clients. The result is a cost-effective platform which has the potential to proliferate the organization’s ability to achieve quick ROI.

One such company that offers a completely web browser-based Document Management system software solution is Mumbai-based Primeleaf Consulting. The company offers an award winning DMS Solution KRYSTAL Document Management System, which is easy to install, configure, and use. The software licensing, implementation & support packages are affordable for both SMEs and large organizations as well.

Cost Reduction and ROI

The 4th latest trend in DMS comes in the form of cost reduction & the platform’s ability to maintain the Return on Investment. Although much has been stated about the potential of DMS in cost reduction it was only this year the benefits were realized. Right from reimbursement applications to budgeting receipts, DMS has seen an upward trend in terms of the enterprises’ ROI, specifically considering the cost which was paid for this solution. As more digital documents are made & stored online, cost reduction and Return on Investment as a result of DMS are anticipated to continue its upward movement in the next 5 years.

“DMS is being universally adopted across businesses as it not only simplifies document management and retrieval of information, but also ensures enterprises with accuracy and integrity of records and information, thereby saving them time, resources, labor and money,” says Pankaj Sharma, Director, Osource Global Pvt Ltd.

Collaborative Work

DMS is also implicated in the latest trends that were seen in terms of collaborative work. It has the capability of streamlining collaborative work via workflow automation that lets for document tasks to be assigned, monitored as well as prioritized, apart from managing the storage & profiling of digital documents. Moreover, owning a document tracking system renders all teams with the opportunity for reallocating the time which is most often wasted on finding the document to more critical processes like brainstorming.

The road ahead

With the latest & upcoming trends in DMS & the factors that have an impact in their value, it is evident that the future of organizations involves the implementation of technology for a tedious & menial task as the management, storage and use of documents often is. The combination of these trends not only stresses on the role of these platforms in business operations but it also offers a solution to the challenges which organizations face.