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Cost Saving Opportunities for the Global Document Management and Storage Services 2017-2021: TechnavioAccording to the latest procurement market intelligence report from Technavio, the global market for document management and storage services is expected to grow at a CAGR of 3.2% over the next five years due to an increase in data governance regulations and the growing need to cut storage costs. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170123005356/en/ 
Technavio has published a new report on the global document management and storage services market from 2017-2021. (Graphic: Business Wire) The research report titled 'Global Document Management and Storage Services: Procurement Intelligence Report 2017-2021' provides an in-depth analysis of category spend, best procurement practices and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence. "During the forecast period, the global document management and storage services market will be driven by rapidly changing laws and regulations governing document management that result in increased complexities," says lead Technavio procurement expert Angad Singh for category spend intelligence. "Also, increasing adoption of Big Data analytics to manage growing volumes of data and the growing need for sustainable offices are factors that are likely to influence the market," adds Angad. Request a sample report: http://www.technavio.com/request-a-sample?report=54920
Cost Saving Opportunities in the Document Management and Storage Services Market The adoption of various cost-optimization levers helps buyers of document management and storage services realize direct cost savings and enhance category management and value benefits (including reduced procurement complexities). Technavio procurement experts have segmented the cost saving opportunities in the document management and storage services market into the following value-enhancement opportunities:
Adoption of technology saving aspects Adoption of technologies such as barcode scanners and tracking systems along with hybrid cloud storage and proprietary software tools can help reduce costs, sometimes up to 9% of total category spend. The use of the technologies mentioned above can significantly enhance the process of document management by helping to maintain a clear audit trail. Furthermore, the use of web-based systems has eliminated the need for investing in technology enabling social integration and collaboration among stakeholders. Adoption of negotiation strategies saving aspects Due to growth in the volumes of data generated by enterprises, it is very important that firms have centralized systems for storage and retrieval. Buyers prefer to engage with service providers that offer centralized data repositories that are equipped with functionalities such as easy search, multi-format support, and accessibility from a wide variety of platforms. Implementation of value additions such as offsite backup options would increase the reliability of the document management and storage service. Bundling of services saving aspects One of the most opportunistic strategic cost saving levers in the global document management and storage services market is the bundling of services such as consulting support, digital mailroom, and cloud analytics tools. Category managers look to engage with service providers that maintain highly efficient storage facilities that offer high utilization rates, better efficiency in storage space, and enhanced productivity. Browse other reports:
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they're published in addition to all 6,000+ existing reports covering segments. This subscription nets you thousands in savings, while staying connected to Technavio's constant transforming research library, helping you make informed business decisions more efficiently. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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