It’s an Open Digital World – Raise Your StandardsBy: Heather Petersen
As organizations increasingly turn to cloud technology for business processes, digital transaction management (DTM) is emerging as a key solution. A Forrester study found that a full 83% of IT and LOB decisions makers expressed a need for a DTM solution for their enterprise.
As adoption of DTM technologies continues to grow, we decided to join the conversation with the launch of our new xDTM blog where we’ll highlight key trends and thought leader perspectives in digital transaction management (DTM). In our view, DTM includes the branch of cloud services that allow businesses and other institutions to transition to fully digital processes for document-based transactions.
Many businesses are already advancing ahead on the path of digital transformation, driven by these top factors cited in a recent report:
- Evolving customer behaviors and preferences
- Growth opportunities in new markets
- Increased competitive pressure
- New standards in regulatory and compliance
At the same time, however, all organizations must continuously secure and protect data in the cloud against new threats, and mitigate risk to existing enterprise systems. Wherever your company is on the path to digital transformation, you need assurance that employees can safely conduct business transactions digitally, even in the face of constant change.
That’s why the xDTM Standard Association created the first standard for digital transaction management – to ensure digital transactions are protected yet accessible, while limiting exposure to the risks and consequences of noncompliant technologies. By looking for xDTM Standard certification, it is now easier for organizations to evaluate and compare DTM solutions across a common set of criteria and best practices.
Tell us what criteria your organization relies on to evaluate cloud solutions and how standards play a role in your industry. If you’re passionate about digital transaction management and would like to get more involved in the Association, please contact us.