2020 was a busy time for lenders—and highly stressful too. A slew of government stimulus packages, a pandemic-affected housing market, and financial uncertainties forced lenders into participating in various government programs to maintain their liquidity.

Buying a home is one of the most significant emotional and financial decisions people make in their lifetime. The experience will either be memorable or frustrating—depending on the mortgage lender involved!

Healthcare is one of the world's largest industries. During the COVID-19 pandemic, hospitals faced tremendous pressure on bed availability, lab testing, and overall patient care. Never was the need for optimized administrative procedures and shortened billing cycles in healthcare so keenly felt. Hospitals with automated billing and digitized patient records dealt with the surge more effectively. Digitization optimized their staff's efficiency and kept the focus on their core competency—patient care.

Organizations across industries adopted large-scale digitization and at least some automation in the last few years. Healthcare IT faced a host of hurdles in digitization, ranging from patient privacy issues, stringent regulations over records maintenance to institutional stakeholder concerns. This lag is now receding. The COVID-19 pandemic accelerated digital workflow adoption. Increasing demands on healthcare systems, medical workers, and pressure on profile margins pushed up the pace of digitization.

The way businesses conduct their daily operations evolves with time. A few decades ago, enterprises carried out all their operations in-house. In the last decade, the trend toward outsourcing certain business functions caught on. Outsourcing repetitive tasks and non-core business functions to external service providers became the norm. Now, Business Process Outsourcing (BPO) is an accepted and desirable practice. 

The COVID-19 pandemic thrust the work-from-home (WFH) model on many organizations. Younger generations of tech-savvy employees took to it enthusiastically. WFH became a convenient and attractive option for employees who needed greater flexibility on the home-front—such as those caring for young children or ailing family members. 

In the current business environment digitizing is a necessity for most organizations. Whether you are a growing company, a multi-location company or a company with a remote workforce, digitization gives your employees easy access to information, and keeps them well-informed.  It secures a competitive advantage, increases accountability within the organization, improves operational reliability, and avoids duplication.

We live in a fast-paced virtual world, where document digitization is no longer optional for businesses. And even when business information is digitized, managing a high volume of files is not easy. An efficient EDMS cuts through the disorder and simplifies the document management process. Organizations acknowledge a clear and definite need for an electronic document management system (EDMS) that effectively manages their digital documents. Implementing an EDMS is critical for organizations today.  Without the ability to create, process, manage, transfer, and share electronic documentation, they cannot remain competitive or react to dynamic marketplace changes. However, not all document management systems make the cut. Organizations must ensure that certain key features are present in the EDMS solution they deploy. Here's a look at some of these features: