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To kick off 2019, we are delighted to be included for the third year running in the newly refreshed Aragon Research Globe™ for Digital Transaction Management (DTM). It’s always rewarding to get positive reviews from third-party analysts, especially those with deep experience in digital document and workflow technology markets. You can get more details on the 2019 report here.
We’re especially proud that Aragon has recognized Intelledox as an Innovator and for our strong strategic approach. Here’s what Aragon says:
“With expanded partnerships and new AI capabilities, Intelledox continues to push the envelope on innovation in DTM and Workflow and Content Automation.”
For a deeper dive on the background of the DTM market, you can catch up on the prior year Aragon Research announcements for 2017 and 2018. In fact, Aragon recognized Intelledox a “2016 Hot Vendor” in that year’s report.
If you’re not familiar with this three-letter acronym, it’s really linked to the market for digital or e-signatures. What Aragon calls “basic” Digital Transaction Management is about digitizing customer-facing processes around contracts and agreements – and organizations that offer secure digital signatures can remove friction from customer interactions like opening a new account, enrolling in insurance or requesting service.
But the e-signature is only one part of the digital transaction. More advanced DTM covers automated creation and routing of those agreements, before they are ready to sign and then after signing. (Workflow and Content Automation or WCA is seen as this “advanced” subset of DTM.)
Aragon anticipates the DTM market will grow from $10 billion in 2017 to $25 billion by 2023 – a pretty good bet given how many transactions are still paper-based even among large enterprises.
Even at the start of 2019, less than 35 percent of all document processes are fully digital inside enterprises, according to Aragon. “The sheer volume of paper transactions that exist today, combined with the need for increased security and compliance, sustainability, and an improved customer experience, means that DTM is poised for growth,” the 2018 report says.
Forrester Research has covered the DTM market as well. In a study on DTM cosponsored by DocuSign, Forrester reported:
Basically DTM is the “tip of the spear” when it comes to more profound digital initiatives, Aragon says.
What do we learn about the updated DTM report? What’s new about digital transaction management and e-signatures? Here are some trends in this space:
As noted in the new 2019 Globe report: “For every enterprise that is still stuck dealing with legacy paper, many enterprises are leap frogging their competitors by introducing new, simplified customer journeys that automate the document process as part of a new digital service.”
These DTM trends are in part why vendors known traditionally as e-signature providers, like our partner DocuSign, are focused on expanding their offerings to automate and simplify more steps involved in digital transactions from end to end.
In case you missed it, in June last year DocuSign announced its System of Agreement platform. Intelledox is pleased to be one of several partners embedded in the DocuSign System of Agreement platform, in the “prepare” stage of the journey. Check out our post on the System of Agreement for more details.
Intelledox enables you to replace paper and fillable PDF forms with digital and mobile-friendly guided interviews, connected with data from and into your core systems. Then, Intelledox generates real-time digital messages and/or documents available for e-signature, incorporating workflow to support collaboration and approval tasks.
If you’re looking at Digital Transaction Management as a priority for your organization, we can help. Contact us to learn more about how we can help you expand beyond e-signatures and digitally transform a wide range of document-centric business processes involving people, documents and data.