Independent Research Finds 83% of LOB and IT Decision Makers See Need for Digital Transaction Management as 80% Report Revenue Loss from Poor Transaction Management
New Independent Study "Digital Transforms The Game of Business" Reveals Efficiency, Security and Customer Experience as Top Reasons for Implementing DTM Solution Immediately
CAMBRIDGE, Mass. and SAN FRANCISCO, April 15, 2015 /PRNewswire/ -- Successful companies have a long history of leveraging technology to replace slow, manual processes to drive efficiency, reduce costs, and improve customer satisfaction. That is, with the exception of collecting and using information during transactions, particularly when approvals and signatures are required. While companies have automated manual, paper-based processes leading up to and following the yes, many still needlessly rely on pen and paper to transact business. This slows business, delays results, and creates a poor customer experience.
So it should be no surprise that 83% of IT and Line of Business (LOB) decision makers noted a clear or pressing need for a Digital Transaction Management (DTM) solution that is either not addressed or only partially addressed by their existing solutions in the just released Digital Transforms The Game of Business: Digital Transaction Management Emerging As Key Solution (March 2015), a commissioned study conducted by Forrester Consulting on behalf of DocuSign. These same decision makers noted that efficiency, security and customer experience are the top three drivers for making the digital transformation with a DTM solution. To get your copy of the Forrester Consulting study and learn of digital best practices for your organization, visit https://www.docusign.com/forrester-dtm.
The research study highlights the pain experienced by LOB decision makers who shared that they are losing significant revenue due to poor transaction management today: 80% of companies reported revenue impact from poor transaction management with 37% of companies estimating revenue loss to be 11% to 25%.
What's more, the competitive impact of going digital by implementing a DTM solution is believed to be significant across functions: 83% of IT and LOB decision makers recognize that a DTM experience is important to the success of their enterprise.
"Eliminating costs, making faster changes, and improving customer experience are strong business drivers to move your enterprise toward DTM," the Forrester study states. Survey respondents noted the following challenges with their current analog processes that could be addressed by a DTM solution:
- Human error
- Cumbersome paper-oriented document management
- Difficulty collecting and managing documents from multiple sources
- Difficulty administering and controlling documents over time
- Dealing with a lack of security over printed documents, and
- Difficulty maintaining visibility into the location and status of paper documents.
According to the study "Sales, HR, finance, order processing, legal, procurement, and field service are all great focal spots for expanding your company's use of DTM. They remain mired in paper and analog processes."
"The need for DTM extends across functional roles. When we asked about the competitive impact of a DTM solution on various business functions, the majority response was 'significant' or 'very significant' in every single business function," the study stated. "Among the top were IT (84%), finance (81%), HR (76%), and sales (72%)."
Forrester recommends that organizations take action in 2015 to avoid falling behind digitally savvy competitors, advising "Business executives must put themselves in the digital driving seat."
"It's clear that DTM has emerged as a way for organizations to finally rid themselves of the hassles, costs, and lack of security that are bogging them – and their revenues – down under reams and reams of paper," said DocuSign CMO Brad Brooks. "As the worldwide leader in DTM, DocuSign is paving the way to help companies of every size, industry and geography to make the digital transformation for dramatic efficiency gains, increased security and compliance, and a better customer experience."
The Forrester study commissioned by DocuSign, Inc. (DocuSign®), included a 400-person online survey, as well as five qualitative interviews of IT and Line Of Business (LOB) decision makers from APAC, Europe, and North America. Respondents had responsibility for document-intensive business processes and selecting and managing transactional technologies. To get your copy of the Forrester study and learn of digital best practices for your organization, visit https://www.docusign.com/forrester-dtm.
Contact:
Kristin Treat
DocuSign, Inc.
+1 (215) 317-9091
[email protected]
About DocuSign, Inc.
DocuSign® is The Global Standard for Digital Transaction Management®. DocuSign helps more than 100,000 companies across nearly every industry and department make their digital transformation by putting an end to the paper chase. More than 50 million people in 188 countries turn to DocuSign to manage their most important transactions—digitally. DocuSign's DTM platform supports legally compliant signature processes tailored to meet requirements globally with localization in 43 languages. Every day more than 50,000 new users join The DocuSign Global Trust Network to increase speed to results, reduce costs, enhance security and compliance, and delight clients with a secure digital experience. For more information, visit www.docusign.com or call 877.720.2040.
Copyright 2003-2015. DocuSign, Inc. is the owner of DOCUSIGN® and all of its other marks, www.docusign.com/IP. All other marks appearing herein are the property of their respective owners.
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SOURCE DocuSign
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