EDMS Usage Set To Surge Through 2025

Companies around the world have been forced to allow their employees to work remotely during the COVID-19 pandemic, and managed service providers (MSPs) have played a critical role in this transition.

One of the most efficient ways that MSPs can serve clients is through electronic document management systems (EDMS), which can replace paper files and documents in an office, as well as enable users to send electronic documents through the same steps a paper document or file would follow. In fact, document management software provider Cabinet NG recently wrote a white paper to go over the benefits for companies that decide to go paperless in favor of this innovative technology.

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Specifically, there are five main benefits, including instant access to documents and records by any authorized personnel in an organized manner; putting documents/cases through an electronic workflow process; searching old case records for documents using a variety of searching techniques; integrating with other software used across the firm; and obtaining quick and complete disaster recovery.

So it’s no surprise that the EDMS market is projected to surge in coming years. In 2020, the market was growing at a steady rate and is set to exceed $6 billion by 2024. EDMS solutions are predicted to be in high demand in the healthcare sector, where a growing number of healthcare providers are transitioning to automated and digitized records. With that in mind, there should be increasing adoption of health information management systems such as Electronic Medical Records (EMRs), Health Information Management (HIM), Radiology Information Systems (RIS), and Picture Archiving and Communication Systems.

Currently, some of the major players in the EDMS market include Alfresco One Software, Xerox Corporation, Ideagen Plc, Dokmee, OpenText Corporation, Microsoft, Oracle, eFileCabinet, LogicalDOC, Zoho, DocSTAR, MasterControl, M-Files DMS, Lucion Technologies, and CGI Group Inc.

Another major player, Passportal, offers a platform that enables a centralized portal to host clients' important documentation in a secure location. Real-time updates, data reports, and automation ensure that all documents are stored safely and efficiently. Users are also able to keep all of their clients' credentials safely stored via the platform, as well as utilize a backup system that protects from hardware malfunction, theft, vandalism, and internal security threats.

With many major companies announcing permanent work-from-home options for their employees, these types of solutions will be more important than ever for MSPs and their clients.