The Document Management Market
Market Subdivision By Industrie
Even if all Organizations virtually need to improve their Document Management Processes, you should choose several well-known industries.
Because, customers appreciate when you have a knowledge of their own business processes.
Don’t forget that you have to integrate Damaris RM in their existing ERP, Accounting Package, HR Management System, etc.
So, client decision maker needs to be confident with his future supplier.
At Damaris, we can help you for the following industries we address for more than 30 years:
- Bank / Insurance
- Hospitals
- Transport / Logistics
- Retail
- Wholesale
- Manufacturing
One of most important thing to attract new customers is to reveal references, clients using Damaris RM for years. So, their confidence level grows.
Market Subdivision By Company Size
Small is beautiful , but Big needs more attention for Document Management.
Don’t forget that Big companies have Big Volume of issues to address.
They have more resources to invest in a new solution.
Document Management is relevant when client has more than one site and needs to share documents among its sites.
Small Businesses also could be addressed, but don’t forget that you will have to provide the same effort for less business size or interest.
Return on investment is proportional of number of documents processed. So, Big organizations will pay more attention to your arguments because they can get back their money faster.
Market Subdivision By Features
Document Management Software packages exist and each one offer a set of functions.
It is very important to distinguish Features families and know well competition.
So, you will be able to explain what are Damaris RM’s advantages.
Document Sharing
This function became a major concern addressed by large providers like DropBox, Microsoft OneDrive or Google Drive.
These solutions can create confusion for your prospects.
I already heard: “I don’t need any Document Management package because I already use DropBox to share documents with my accountant”.
He is right, if he reduces Document Management to Document Sharing.
As I know, DropBox cannot automate any actions like extracting data from documents, or match 2 different ones like invoice with proof of delivery.
Document Scanning
This approach is often directly delivered on new Copiers. Users insert documents in the machine and obtain a PDF.
Some clients think scanning their paper documents is their Document Management Solution.
In fact, scanning is a feature of document management. It only changes the media from Paper to PDF.
In all cases, it may ease some documents sharing, but it doesn’t solve any issue.
Electronic Vault
The Vault concept relates to “Legal” electronic documents acceptation.
In digital world, modifying even PDF files is very easy.
So, courts or lawyers reject electronic evidences if you cannot justify their non-modification from creation to delivery.
Electronic Vault brings several digital mechanisms to prove PDFs are not altered from their archiving date:
- Archiving Timestamp
- Files Hash coding
- Files chaining
If a file is the same as archived one, so it is delivered.
If it changed, the file is not delivered and System Administrator recieves an Alert.
Physical Archives Management
Even all digital exchanges, paper documents grow about 3 to 5% each year.
Some times, paper documents are more easy, cheaper and reliable than digital ones.
For example, if you want to switch to digital contract, you need to setup a global digital signature system which will cost a lot of money, whereas, you can use a simple pen.
Digitization will grow. But if you can address physical documents also, you can help your future clients to optimize their paper works.
Workflow Management
Workflows permit to describe and somehow automate documents exchange for decision making.
Most known workflow is “Accounts Payable”.
Companies receive suppliers’ invoices and have to do several tasks:
- Recognize the supplier
- Enter data in their ERP or Accounting package
- Verify if goods or services are delivered
- Verify if amounts and quantities are in conformity with order
- Validate payment
If client has more than 100 invoices per day, this process is very complicated without automation.
Business Process Management
Business Process Management or Business Process Outsourcing are automation approaches to describe, control and secure tasks.
BPM permits to share jobs among more than one team and to be sure that the whole system is stable.
Managers get precious information from operators to create customers invoices.
We could describe an example:
- Receive mails from customers
- Open envelops
- Scan documents
- Recognize information
- Data Quality Control
- Fix recognition issues
- Distribute documents to right recpient
Service Bureau
Large Companies use external service bureau to process standard documents.
For example, many clients use printing and mail postage comapnies to distribute their customer invoices.
Other service bureau offer scanning centers.