Have you heard the news? The digital transaction space is going to change in a very big way, very soon. In a 2014 study, Aragon Research predicted that digital transaction management (DTM), currently a $500-700 million market, will grow to $30 billion by 2020. Most enterprises will have an initiative underway by the end of 2016. Those yet to have jumped on the trend should fear not, however, as Lexmark/Kofax has several solutions aimed toward helping businesses improve digitized end-to-end processes, enhance security and improve overall customer retention.
So What Is DTM?
A digital transaction management solution is one that is designed to perform and manage a range of information-intensive processes involving documents, data and perhaps most importantly, people. The overall goal a business has in adopting a DTM solution is to deliver fully digital transactions with improved speed, security, and accuracy of tracking output. According to Lexmark, the increasing prevalence of the cloud, app stores, and mobile and predictive apps have made the digital transformation of business processes more viable than ever.
During a September webinar series (that is now available on YouTube), Lexmark/Kofax showed off several impressive solutions to consider to becoming, as they say, a “digital transformation hero.”
Kofax Customer Communications Manager
This versatile platform allows organizations to make documents deliverable in a wide range of customer-friendly formats, including email, web portals or SMS. Contracts, insurance documents and proposals can be easily shared digitally, streamlining business operations and bringing this information to the customer in a neat, tidy digital package. KCCM also allows for data extraction from outside business applications and CRM systems.
Kofax Signdoc Tool
Signatures can be a pain point in digitizing business processes. Hardcopy signatures can be inefficient and add up to a significant print cost. Kofax Signdoc can capture e-signatures on virtually any device to allow transactions to happen from anywhere, allowing business to happen faster and easier than ever. The solution even works offline, so connectivity issues never get in the way of productivity.
Kofax Insight
A scalable, comprehensive view of business operations is crucial to any organization. According to the company, Kofax is “the only process intelligence platform that combines process discovery, monitoring and analysis with rich business intelligence, analytics and data integration tools in a single, unified solution.” Through an intuitive, visual layout, Insight gives real-time or near-real-time analytics on inefficiencies in an organization, giving staff the information and tools they need remedy these problems. The solution also helps insure that businesses are always running at their best.
These three offerings from Lexmark/Kofax are just a few of the solutions competing for customer dollars in the DTM space. While this may be a bit out of the wheelhouse of most print service providers, these could very well end up being crucial solutions for businesses and increase customer retention like no products before it.
