PALO ALTO, CA — March 26, 2014 —Aragon Research, a technology-focused research and advisory firm committed to providing thought-leading strategic research and trusted advisory services, released its Digital Transaction Management: The New Way Ahead for Digital Business report today. Aragon predicts ‘DTM’ to be one of the fastest-adopted business transformations in history surpassing Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) with 70% of large companies implementing DTM as a business imperative by the end of 2016. DTM is expected to grow faster than nearly every business category (except tablets), with category revenues estimated to grow from USD $500-700 million in 2014 to $30 billion by 2020.
“Digital Transaction Management is so powerful for driving business benefits that this isn’t a matter of whether enterprises will embrace it, but when,” said Jim Lundy, CEO and Lead Analyst, Aragon Research. “The most innovative and progressive organizations have already implemented DTM and are now expanding use cases beyond their initial deployments. We predict DTM will be a strategic imperative for the vast majority of organizations large and small by 2016.”
As an emerging category, Digital Transaction Management (DTM) is defined as a business application using cloud-based software and services to automate and streamline internal and external document-centric business processes. While DTM is most closely associated with eSignature today, it also encompasses many other transaction processes.
Aragon defines DTM seamlessly and securely combining nine major digital elements:
- Automation/Workflow. Automates and controls transaction processes. This includes workflow that can be configured by a business user.
- Assembly. Manages the creation, assembly and delivery of data and documents into and out of key applications and processes.
- E-Signatures. Enables parties to securely sign a document.
- Agreement Collection and Management. Supports collection of digital agreements.
- Identity. Provides identity proofing for all participants.
- Application and Services Integration. Integrates key applications and cloud based document sources.
- Secure Transaction. Provides a centralized secure transaction center.
- Audit History. Full, tamper-proof audit trail of transaction that meets evidentiary standards and is admissible in court proceedings.
- Enterprise Administration & Control. Enables enterprise provisioning, permissioning, management, and reporting.
Digital Transaction Management: The New Way Ahead for Digital Business identifies a series of trends driving widespread DTM adoption, including the growing focus on customer experience as a competitive differentiator. DTM delivers significant ROI via both hard and soft dollar savings.
“Few technologies have the ability to transform every aspect of how a firm achieves measurable success,” furthered Lundy. “Based on our estimated cost savings of $5 to $100 per document, return on investment from DTM will reach tens of millions of dollars annually for the largest organizations, depending on the company’s current processes and use cases addressed.”
Individuals interested in reading the full Aragon Research report on Digital Transaction Management may visit the special report on Digital Transaction Management.
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