The use of electronic document management systems (EDMS) is one of the key conditions for the successful automation of modern business processes. These are programs that help manage the flow of documentation within a company. According to forecasts, the corporate content management market is expected to grow by 9.8% annually until it reaches $53.2 billion by 2030. For comparison, it is currently valued at $21.5 billion.

Such systems are used by organizations regardless of their industry, but there are still sectors where the implementation of EDMS is critically important in the competition for customers. This material will focus on these industries.

Healthcare

Providing quality care is the key to ensuring that patients return to a medical facility. This is especially relevant recently, as competition in the healthcare services market continues to grow. Private clinics are emerging, and many hospitals are adopting cutting-edge technologies such as artificial intelligence and machine learning. All of this forces medical institutions to constantly work on improving their services.

To achieve this, more and more clinics are opting for digital document management, gradually abandoning outdated paper-based information carriers. According to recent studies, the corporate content management market for the healthcare sector has a steady growth trend—averaging 14.7% annually.

EDMS in hospitals allows:

• Protecting confidential information. Patient data, including medical history, must never be disclosed to third parties. Modern digital systems help maintain medical confidentiality and provide access to patient data only to medical personnel who need it.
• Digitizing medical records. Filling out and constantly updating patient information requires a lot of time and extreme attention from medical staff. Modern electronic systems enable scanning records, categorizing documents, and managing them in a unified digital space.
• Reducing errors. Medical staff deal with a huge number of documents daily: test results, examination reports, prescriptions, internal standards, and directives. Using EDMS helps avoid document confusion and minimizes errors caused by human factors.
• Preventing data loss. Maintaining complete information about a patient’s condition helps prescribe optimal treatment plans and improve prognoses. Modern digital systems include data backup and recovery options when necessary.
• Increasing productivity. Analysts calculated that automating routine tasks saves up to 16.6% of a doctor’s working time, allowing them to focus on primary tasks. Doctors can access complete patient information with one click, speed up documentation, and quickly consult with specialists by granting them access to data in the system.

All the above capabilities of EDMS contribute to improving service quality and increasing patient satisfaction. Thus, hospitals with automated document management find it easier to outperform competitors and maximize market coverage.

Finance

To meet the needs of progressive, tech-savvy customers, banks and other financial institutions must constantly improve their internal processes. Implementing EDMS is one way to automate fintech companies’ operations and secure a leading market position. According to statistics, 53% of financial companies already use such systems in their operations.

Automated document management systems in financial organizations offer the following opportunities:

• Conducting centralized external and internal audits. Such systems serve as a single repository where all financial institution documents are stored. This allows for independent verification of documentation when necessary and easy provision of data during external audits.
• Improving customer service quality. Modern corporate content management systems simplify communication with customers, no matter where they are: easily sending them account statements, receipts, and other files.
• Enhancing security. EDMS allows restricting access to certain files, transmitting data through secure channels, and reducing the risk of loss or unauthorized access to documents.
• Increasing mobility: remotely managing financial institutions and providing up-to-date information to customers anywhere in the world. Implementing EDMS into your business processes makes the company more flexible and mobile, which modern consumers highly value.
• Complying with regulatory requirements. The requirements for financial institutions’ activities change very quickly. Banks do not always keep up with these changes and implement them into their processes, which can lead to penalties. Modern digital document management systems come to the rescue. They quickly gather relevant information and allow timely updates in accordance with current regulations.
• Gaining financial benefits. Transitioning to electronic document management saves time and money on printing paper documentation. It also speeds up transactions by providing quick access to registration documents, signature cards, etc.

Finance is one of the industries that requires the highest level of data security. Digital solutions for document management automation can provide this security to clients and help fintech companies attract their desired audience.

Logistics

To improve market coverage, logistics companies must focus on minimizing delays in delivery and shipping. Transitioning from paper-based documentation to automated processes—implementing EDMS—can help achieve this. According to analysts, the global logistics automation market, which includes digital document management, is expected to double in the next five years.

Such software allows:

• Creating a centralized management system for waybills, bills of lading, invoices, certificates, and other documents related to cargo transportation.
• Tracking orders and providing support at all stages of delivery.
• Managing internal company documentation: in HR, accounting, and customer support departments.
• Reducing the likelihood of errors. Automating document management minimizes the impact of human factors on logistics processes.

To attract their target audience, logistics companies must achieve high accuracy in their business processes. This is precisely what the implementation of EDMS in organizations involved in freight transportation aims for.

The constant growth of customer demands on medical, financial, and logistics service providers does not allow them to stand still. Transitioning to digital document management is the perfect starting point for business digitization. Shrift EDMS is an excellent example of how all critically important functions for the mentioned industries are implemented in one system. Its implementation clearly demonstrates that the use of cutting-edge technologies and process automation can improve service levels and expand the customer base.