Document Management Systems Demand to gather Pace in the BFSI Sector

San Francisco, California, May 23, 2018: The document management systems market is driven increasingly by the widespread digitization of business assets in numerous industry verticals. The trend has gathered steam on account of the intensifying need for better management of business content for streamlining workflows in various end-use industries. The need for easy sharing of corporate data across the organization among teams and business units is a notable factor that has spurred the demand for such systems world over. Such trends and their impact on market dynamics are covered elaborately in new report by TMR Research, titled, “Document Management Systems Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2025.”

The inherent features of anytime and anywhere access of document management systems has stoked their popularity. The incorporation of capabilities that help make these features useful is bolstering the uptake among enterprises. Constant efforts made by vendors to make the system more secure is also catalyzing the growth of the document management systems market.

The advent of disruptive technologies applied to make the distribution of critical customer documents more secure has made room for new, lucrative avenues in the market. The promising application of blockchain technology is a case in point. Another significant trend is the integration of document management systems with cloud computing capabilities.

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The attractively rising demand for document management systems among businesses in the banking, financial services and insurance (BFSI) sector is expected to accentuate the market over the forecast period. Furthermore, the rising demand for cost-effective solutions in document management for streamlining business workflows in various developing and developed countries is also boosting the market.

Regionally, North America, Europe, and Asia Pacific are expected to witness promising uptake document management systems. Stringent implementation of regulatory compliance pertaining to storage and distribution of data in businesses is providing a robust momentum to the growth of these regional markets.

Key players operating the global document management systems market include Lucion Technologies, Maxxvault, Everteam, Alfresco, Newgen Software, SpringCM, Efilecabinet, Oracle, Canon, Opentext, and IBM.

Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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