Even though it has been proven that statistically, outsourcing your document scanning and management helps to cut costs and improve efficiency, many businesses are still skeptical of outsourcing their document scanning needs or are just holding onto their manual paper processes for dear life. This is a large waste of resources and money, because according to PricewaterhouseCoopers “the average company spends $20 in labor to file a document, $120 in labor to find a misfiled document, and $220 to reproduce a lost document. Meanwhile, companies lose one out of every 20 documents, and spend 25 hours recreating each lost document.” Don’t buy into the typical myths about outsourcing your document scanning, we are here to debunk them for you.
Topics: #Scanning, #Digitization, Scan, Documents, Security, Compliance, Backfile, Store, Digitize, Automate, Efficiency, Storing Documents, Document Storage, Cloud Services, Document Management, document scanning company
Electronic document management is a system or process used to manage, track and store electronic documents. But why is it important? According to the Associate for Intelligent Information Management (AIIM), “organizations expect the volume of information coming into their organizations to grow from X to 4.5X over the next two years” (AIIM 2020). With the majority of that information coming in the form of paper documents, it’s important to have a system to help your business securely find, manage, and distribute those documents.
Every day businesses create and manage large amounts of documents, from human resource documentation to contracts, invoices and more. Not only do we create and manage these documents, we also have to spend time searching for the documents we need, and a lot of time at that. Even if you are already paperless, we still spend time looking for documents on our drives, inboxes, and work chats.
There are many small but mighty steps you can take to become a paperless office, from scanning your backfile of documents to utilizing paperless cloud services for future processes. Not only do paper-heavy business processes waste time, they increase unnecessary costs and reduce productivity. Did you know that every 4-drawer file cabinet holds between 10,000-12,000 documents, occupies around 9 square feet of floor space, and costs $1,500 yearly to maintain? On top of that, according to an AIIM market study, going paperless can improve staff productivity by nearly 30%.
Every business, regardless of size, can benefit by the use of automation. It simplifies areas of a business by automatically accomplishing tasks that an employee would otherwise have to do manually. This is especially true for back office processes for small businesses. The Small and Medium Business Trends Report from Salesforce from 2017 surveyed nearly 500 small business owners and leaders and reported that “small businesses automating their processes in some way are 1.6-times more likely to be growing than those that don’t. Likewise, growing small businesses are twice as likely to adopt artificial intelligence (AI) as stagnant businesses.”
Generally speaking, all businesses have the potential to be audited at some point and going through an audit can be an extremely time consuming and stressful process if you don’t have all of your ducks in a row. Auditors can require you to show a great deal of data and documentation and if that information isn’t readily available and organized, or if they happen to be stored incorrectly or missing, you could be at risk of being noncompliant and your business could face penalties.
In a past world, aperture cards were an extremely useful form of microfilm for archiving important information. You may have seen these types of cards in engineering or building departments, as there were certain advantages to using this type of technology to archive engineering drawings or building plans. Aperture cards have a projected 500 year lifespan, and they are human readable, which prior to computers made them a very reliable and easily searchable form of archiving. If you are unfamiliar, aperture cards typically look like a wide index card (approx. 7.5” x 3.25”) with a piece of microfilm mounted on one side and punch holes throughout the card. The punch holes are known as the Hollerith data and they represent important metadata, as well as card index information that would describe the specifics of the image without needing to actually look at the image itself.
What do you think of when you think of your local city or town hall? Most people don't tend to think of a fast-paced, highly digitized environment. Especially not a place where they could skip the lines and take care of a task online. From car registrations to land record management, local government is responsible for providing documentation to its residents. However, keeping these documents as part of a manual, paper-based process increases the risk of loss, poor accuracy and storage and safety issues. Digitizing your municipal records, such as land records, assessing files, financial records and meeting minutes, can help you quickly become organized, efficient and in control of the tasks that occur daily at your city or town hall.
Topics: Storage, #Scanning, #Digitization, Organization, Scan, Security, Compliance, Paperless, Store, Digitize, Automate, Efficiency, Storing Documents, Document Storage, Work From Home, Remote Access, Remote Working, safety, covid-19, coronavirus
If you have documents that you need to keep for regulatory or compliance reasons, you might have considered storing them off site or getting them scanned. Having a framework to help you make the decision as to which is best in what cases can be helpful in understanding when you should continue to store your documents and when scanning them would produce a return on investment.
Topics: Storage, #Scanning, #Digitization, Organization, Scan, Documents, Security, Compliance, Paperless, Store, Digitize, Automate, Efficiency, Storing Documents, Document Storage, Remote Access, FDA, Quality, Regulatory