Document Processing Trends and Predictions for 2024 | Apryse Wrapped

Exactly one year ago today, in a groundbreaking move, PDFTron Systems Inc., a global leader in document processing technology, announced its rebranding as Apryse; bringing 13 companies including iText, Windward, Eversign, and more together. This strategic rebranding showed remarkable expansion and commitment to innovation within the document space. Now one year later, we look back on what was accomplished, as well as what to look forward to in years to come.

Kicking off 2023 under the new banner of Apryse, this move alone marked the creation of one of the largest document processing teams in the world; with 13 industry leaders under one helm working towards a common goal: making work better and life simpler. Alongside the initial challenges of combining over a dozen teams, processes, and products into a single suite of document tools, the gears of production still churned at Apryse. Notable releases included an all new automated report generation solution: Fluent, the latest version of iText, a Javascript DOCX editor, new features like Intelligent Data Extraction and Snipping Tools for our Software Development Kits (SDKs), and so much more.

Extending beyond what was happening internally at Apryse; there was also a variety of new and reoccurring trends in the world of document processing throughout the year. Some of the most notable included the acceleration of tailwinds in areas such as:

Generative AI revolutionizes document processing by creating dynamic content. Using advanced algorithms, it generates accurate, context-aware text, enhancing efficiency and personalization. This innovation automates document creation, reducing manual efforts and improving overall productivity.

Digital transformation entails shifting from paper-based to electronic workflows. Cloud-based collaboration tools streamline document sharing, version control, and accessibility. Automation of repetitive tasks accelerates processes, promoting agility and responsiveness. Digital transformation optimizes efficiency, ensuring organizations stay competitive in the modern business landscape.

Document processing demands robust information security measures. Encryption, access controls, and secure transmission protocols safeguard sensitive data. Continuous monitoring and threat detection prevent unauthorized access or data breaches. Compliance with industry standards ensures a fortified defense against evolving cyber threats, building trust with stakeholders.

Compliance involves adhering to regulatory standards and industry guidelines for document processing. Robust systems track and manage document lifecycle, ensuring proper data handling. Automation tools assist in maintaining accurate records, reducing compliance risks. Organizations prioritize compliance to build credibility, avoid penalties, and uphold ethical business practices.

All of these trends lean into one area – finding trusted ways to automate critical yet repetitive tasks in order to focus on core business competencies. This focus on a "what makes your beer taste good" mentality is driven by the massive time usage taken up by administrative tasks. With an average of 24% of each workday going towards tasks like report generation, document management, and internal communications, it’s no wonder that companies are trying to find ways to automate; allowing them to focus on work that drives their business forward.

As we look ahead to 2024, several trends are expected to shape the document management landscape:

The tailwinds observed in 2023 are expected to gain further momentum in 2024. GenAI, digital transformation, information security, and compliance will continue to be driving forces for emerging software companies. With new solutions dedicated to automating these tasks breaking into market every day, it will be ever important for companies to be sure they’re dealing with the verified and trusted tools for their specific projects, and not allocating trust in potentially unreliable generic options. 

The outsourcing trend is likely to intensify as businesses increasingly recognize the benefits of entrusting specialized entities like Apryse with day-to-day tasks like document processing. To caveat the above, companies are relying more and more on trusted vendors to outsource their technical infrastructure; allowing organizations to redirect their resources and attention towards core competencies, fostering innovation and business growth.

While legacy systems may suffice for maintaining the status quo, the accelerating pace of new technologies raises concerns about the ability to adapt. Legacy systems might struggle to keep up with the rate of pace of digital transformation, forcing businesses to either adjust their infrastructure or risk a major decrease in efficiencies when compared to competition.

Apryse SDKs offer businesses a powerful solution to replace legacy systems and stay on top of evolving technology trends. Our commercial SDKs provide a comprehensive package of APIs, libraries, and documentation, enabling developers to efficiently build applications for specific platforms or systems. The PDF SDK, for instance, empowers companies to effortlessly manage their digital document workflows, improve efficiency, and reduce expenses.

By using Apryse, companies can relax knowing their document management is backed by nearly three decades of experience specific to document processing. Meaning they can confidently focus on ways to differentiate their offerings, bring new products to market, break into new regions, or anything else beyond the day-to-day.

With 2023 in the rear-view mirror - we celebrate our first full year under the new brand of Apryse, and we’re proud to say that we’ve effectively brought 13 industry leading companies together into the most innovative SDK vendor worldwide. Apryse is poised to lead the charge into 2024 as the global workforce incessantly looks for tested solutions to the meet the increasing demand to do more, with less.