Demand for information management services on the rise in India

As one of the world’s fastest growing markets, India shows strength of trend towards digital 

India’s startling economic growth makes it the perfect model for predicting trends in emerging economies. Its particularly large service economy means it’s a growing market for records management and information management services. We spoke to Antony Anand, National Sales Manager for Crown Records Management India, about the industry trends he’s observed.

India shows strength towards digital

When Crown Records Management began operations in India, the business was predominantly document storage but, Antony explains, “we evolved to become more service minded and started offering active management and life-cycle management for the documents in our care.” In more recent years, Antony has observed a huge increase in demand for imaging services. “From storage we started converting pages to digital images and day after day, customer after customer and market after market we became an integral partner for our clients to enter a digital future.”
Demand for digital services has been steadily growing over the past three years, but the big shift has been in 2017. “Consistently, 40 percent of our total inquiries are for digital imaging and the implementation of digital document management solutions.” Antony claims that this is telling for the marketplace as a whole: “A core records management company receiving a constant demand for digital imaging is a clear indication of a shift in customer demands. It’s not just knowledge-gathering either, more and more companies are consuming the services.”
In the past year, information management services, which include digital imaging and document management solutions, have made up 12 percent of Crown Records Management India’s revenue. That’s up 50 percent on 2016. Antony explains, “Our major revenue still comes from storage as that’s a steady and consistent income – we keep paper documents in storage for years. Meanwhile, information management services are often one-off imaging jobs, so they are more volatile, but there is a consistent upward growth year on year.”
In the past year, demand for Crown Records Management India's information management services, which include digital imaging and document management solutions, has doubled. However, you can see how the market is shifting towards a digital future as 20 percent of customers have implemented a document management solution. “Now all businesses in India are IT enabled, workforces are technology driven and people are seeking the possibility of mobility in everything they do,” Antony says. “As such, it’s vital for them to capture, process, preserve and provide access; companies are looking for solutions to collect data in a highly structured, digital form so that every inch of data can be used.”
To find out more about our information management services and how we can help you to prepare for the digital future, contact your local team.