Businesses worldwide are shifting towards the trend of transforming digitally to optimize business processes, and this has resulted in the reduction of paper usage in most organizations. We can see that increasing number of companies are turning to paperless technologies from the sales growth of our enterprise e-Form (up by 45%) and reporting (up by 144%) solutions in Q3 and Q4 of 2017 (YOY). A representative of FORCS said, “Last year, a sizable percentage of the deals came from the Government, Finance, Manufacturing, Telecommunication, Retail sectors in South Korea. Beside, we have received more enquiries on our enterprise solutions globally.”
In 2017, the financial industry has evolved with more financial institutions adopting digital channels to increase customer engagement and satisfaction. To kick it up a notch, FORCS will be allocating more resources in the research and development of our enterprise e-Form and reporting solutions to help financial institutions meet the needs of customers in this digital era.
In December last year, the South Korea government announced plans to promote the use of electronic documents, aiming to achieve a paperless society. The goal is to improve practices and regulations in organizations that are still relying on paper documents. Acceleration on the adoption of electronic documents is expected to take place in 2018 across industries starting with the government agencies.
FORCS is also preparing for the launch of our cloud-based electronic document service during Q2 of 2018. The entire sales team has been restructured to serve our customers even better. CEO of FORCS, Mrs Park Mi Kyung said, “We will focus on the growth of global business in 2018, one of the solutions we are launching is a cloud-based e-document service, providing more options to customers who are looking for enterprise cloud-based solution.”