Outsourcing documents helps businesses keep costs down

Technavio, the tech-focused research firm, has observed that document outsourcing is on the rise around the world as companies look for ways to avoid the costs associated with setting up IT infrastructure for document handling.

The company forecasts that the global document outsourcing market will grow at a CAGR of 5.2% from 2014 to 2019.

Source: Technavio. DPO stands for document process outsourcing.

“Transactional documentation does not get the same organisational attention as other forms of customer communications like mobile advertisements, social media, websites, direct mail and advertising that are managed by organisational marketing teams,” noted Faisal Ghaus, Vice President of Technavio. Transactional documents are documents such as bills and invoices. 

“Transactional output is managed by the outsourcing team or in-house IT department with a focus on meeting SLAs and driving down cost rather than focusing on enhancing the customer experience.”

Growth will be buoyed by the need to keep costs down and the rise of automation and the need to scale. Increased workforce mobility and mobile printing will also play a part, as will higher demand for end-to-end document process outsourcing (DPO).

According to Technavio, the industry can expect to see more demand for cloud-based document solutions and archival services, as well as green printing practices becoming popular.

Key vendors in this market include Hewlett-Packard Enterprise Services (HP), Lexmark International, RICOH, and Xerox.

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