Digital transformation is accelerating in 2023. Watch for these 4 trends in document management and workflow solutions
Why Switch From Paper to Digital for Your Document Management Plan
Moving from paper-based to a digital document management plan can be a life-saver for any organization. Learn some of the benefits of making the switch.
Going “paperless” is a trend that’s often talked about, but how paperless are companies today, really? According to one study, over 80 percent of small and mid-size businesses have plans to eliminate paper processes. Incidentally, that means that the vast majority of those businesses haven’t yet fully made the switch.
There are many reasons to embrace a paper-free Document Management System (DMS):
- A desire to boost productivity
- A more resilient format for valuable documents
- Environmentally-friendly business practices
- Deeper insights into large quantities of data
- A reduced footprint and lower overhead costs for your business
- Improved security measures for documents
- The ability to locate needed documents faster
These are all achievable goals. Studies show that employees can lose as much as 40% of their time looking for paper files. And approximately 20% of print jobs are never even retrieved from printers. As more businesses make the switch from paper to digital document management and workflow solutions, they are observing benefits across their entire workforce.
If you're thinking about adopting paperless processes at your company, it can help to line up a compelling pitch. Here are some of the main benefits of switching to a digital-first document management plan.
Digital Transformation Boosts Productivity
One of the largest improvements that managers observe after going digital is an uptick in productivity. In workplaces that use paper-based document management systems, employees spend an inordinate time searching for the documents they need. This valuable time can easily be spent on other important tasks instead, such as developing new products or strengthening relationships with customers.
When you remove the paper from the equation, your employees have access to all of their most critical documents in a single location. This allows workers to save time and focus their energy on doing their job. By cutting down on wasted time, your employees will have the opportunity to complete more tasks in a shorter period, helping to boost productivity in the long run.
Electronic Document Management Systems Save on Costs
Electronic document management solutions also allow companies to save money. The expenses associated with maintaining paper processes can add up over time, causing you to lose money that could be invested in other efforts. By doing away with paper documents entirely, you can free up costs that can be used to grow your business.
Don’t forget that all of the space you’ve previously needed for file cabinets and other storage areas can now be converted to productive space — or you can downsize the office footprint and save money on overhead costs.
The cost-efficiency of digital transformation goes even further than this. With help from digital processes, you can collect and analyze data that shows how your business is performing. This act of seeking out newer and more efficient ways to run your company helps you cut down on costs in the long term.
Better Insights From Digital Document Management Solutions
To ensure that you're always on track with your business goals, you need to constantly evaluate your progress. Digital transformation makes it easier for you to accomplish this. When all of your data is electronic, software, AI, and automation can vastly improve your ability to gather insights from that data and identify any potential weaknesses. Take those digital insights into your business practices and address them proactively.
An electronic document management system also gives you the chance to focus on whatever the data shows to be your company's biggest strength. It's important to dedicate enough attention to the things you're doing well, not just the mistakes you've made. This way, you can identify what you should continue doing the same way so that you can maintain positive results.
Going Digital Improves Your Competitive Advantage
As a business leader, you're always looking for new ways to rise above your competitors and leave a lasting impression on customers. Kicking off your digital document management system project will help you stay ahead of the game. When you eliminate paper processes, you help build a more efficient and productive workforce, which is essential to long-term success.
Another way you can surpass the competition is by choosing document management software that mirrors your needs. Do you place emphasis on rapid response times to customer inquiries? Deep data insights? Smooth integration of remote and in-office personnel? As you integrate digital transformation into your business, focus on selecting a software system that builds on your company's best qualities and shores up weaknesses.
Enhance Your Document Management Plan
Your documents are at the heart of your business, which means it's well worth your time to adopt a more effective document management strategy. Switching from paper to digital documents can promote greater productivity, cost savings, and insight into your business's performance. If you're ready to make the change, reach out to Scan-Optics today. Our experts can work with you to form a powerful digital transformation strategy that allows you to manage your documents more efficiently.