by Nicole Speciale
We write a lot about Digital Transaction Management (DTM) at Aragon Research and not because it is merely a buzzword or a hyped-up term. DTM is actually one of the fastest growing ways in which enterprises can get a leg up on digital transformation.
This blog overviews DTM uses and how they add value to the modern enterprise, particularly for the sales organization.
Defining DTM
Digital Transaction Management is a way to manage documents and transactions in an all-digital fashion. It enables enterprises to manage entire content lifecycles, enforce contract compliance, and accelerate time to revenues.
Other benefits of leveraging DTM in the enterprise include enhancing customer experiences, profitability, and efficiency and access to secure archiving capabilities. e-Signatures also play a role in DTM. This feature makes it easy to sign documents on-the-go, without having to deal with hard copies of documents or requiring in-person meetings to close deals.
DTM Makes Agreement Signing Easy
As the workforce becomes increasingly more mobile, methods of conducting transactions have to evolve to meet the needs of all people involved in the entire contract process. The ability to sign documents on tablets or mobile phones is one way enterprises can stay competitive.
Travel and inability to sign a document readily can be huge drawbacks to productivity, but they don’t have to be. DTM is able to keep up with fast-paced lifestyles of on-the-go workers so that contracts can get signed quickly, even in the amount of time someone is waiting in line. The ease of signing via a mobile device makes revenue goals more achievable and can help prevent deals from falling through or becoming stagnant.
Understanding the Vendors Who Offer DTM Applications
Aragon Research recently released its Hot VendorsTM in DTM for 2018. This is a great introduction to DTM technology and overviews new and emerging DTM providers who are making a difference in this market.
To learn about the major providers in this market and for more DTM resources, check out our Digital Transaction Management coverage page. The bottom line is that if you have not adopted a way to sign documents and manage them digitally and on-the-go, you should not wait to get started. DTM offers a great way to jumpstart or continue your overall digital transformation initiative.