What is a digital transaction management platform?
Before you decide if your company should implement a digital transaction management platform, you must know what this type of platform can offer and which one will meet the needs of your business.
As most businesses take on their digital transformation, implementing a digital transaction management platform cannot be forgotten. Digital transformation is essential for companies to undergo because paper-based methods are extremely flawed and offer many tangible problems like human error, limited control, a lack of formal security, and a lack of visibility over long periods of time.
Digital transaction management and other digital technologies look to get rid of human error, provide companies with the proper control they need of there business assets, provide adequate security over data, and offer visibility that will ultimately help companies avoid any unwanted outcomes.
Digital transaction management platforms are important for businesses because they protect and empower both organizations and customers to securely conduct business online. These platforms offer specific and measurable thresholds for availability, security, privacy, and other critical elements that help companies and their customers feel safe conducting online transactions.
A good digital transaction management platform will offer your company many essential aspects including e-signature capability, authentication and identity proofing, workflow automation, and transaction meta-processes. Let’s take a look at some of the best digital transaction management platforms on the market today.
Best Digital Transaction Management Platforms
According to a report by Aragon Research, by the end of 2018, 65% of enterprises will retire their old paper-based processes and implement a digital transaction management system. As your company looks for a good digital transaction management platform to implement, it’s important to conduct proper research on each available platform and verify that it will meet the needs of your company.
It seems that digital transaction management was coined by DocuSign, the world’s leading e-signature application. As digital transaction management is a set of tools and practices that help businesses manage document-based transaction without paper, DocuSign understands this is essentially an extension of digital asset management.
With DocuSign, you can easily collect signatures and manage documents from any device and any location. DocuSign also supports almost every file type and integrates with hundreds of different business applications, allowing you to collect e-signatures without interrupting your current workflow.
As you plan your digital transformation strategy, a great digital transaction management platform to think about implementing is ThinkSmart. This leader in digital transaction management provides a transaction automation platform to companies who seek to automate and digitize their business processes.
With their intuitive drag and drop tools, your company will be able to quickly design, build, and implement any workflow. ThinkSmart can be integrated with your client internal systems, they offer top-tier e-signature capabilities, and all for a cost-effective price.
This leading private cloud storage solution will give your company and employees a secure place to store, share, and collaborate on corporate assets, no matter what size your company is. From project proposals to vendor contracts and human resource forms, Box can handle it all.
As a powerful team collaboration platform, a workflow automation tool, and a place to manage transaction documents behind enterprise-grade security, Box is much more than just a cloud storage server. It is also important to know that DocuSign is one of Box’s platform partners. This means you are able to send files to be signed electronically from your Box account and they will be returned to you with the official DocuSign label near the signature.
As the majority of businesses become more digital, it is important that you are able to offer your clients and customers security, privacy, and availability by implementing a digital transaction management platform. It is also equally as important to choose a platform that meets compliance standards and is able to scale as fast as your business grows.