10 Advantages of Digitization and Data Capture every leader, CEO and entrepreneur Must Know

10 Advantages of Digitization and Data Capture every leader, CEO and entrepreneur Must Know
In 28 October 2019 - Written By


People understand what it means for a company to go paperless, but leaders need reasons to understand why a company would do so. Below are some reasons why a business should go paperless:

  1. Increased Productivity – It takes an employee an average of 12 minutes to find the paper document they are looking for. With a well-executed digitalization and document imaging plan, this can be reduced to a few seconds or less. Document Imaging allows the stake holder ability to share, collaborate, exchange and access documents in seconds, reducing the turnaround time further increasing the efficiency for your business.
  2. Cost efficiency– The cost of printing and paperwork can be exorbitant. It involves various sub costs like equipment management, paper records maintenance and cost of space. Document Imaging with iDOX can help reduce these costs to minimal levels, helping you focus on core business areas and increasing the investments for value adding verticals.
  3. Easy to access and always accessible – Documents that have been converted can be easily accessed through the cloud or system using any device that has internet, anywhere or anytime. Optical character recognition: OCR techniques along with proper indexing of the data help in searching and accessing the data efficiently saving time and efforts. Taxonomy and Indexing : iDOX’s Document Imaging Services will help you build a high level classification for your documents so that you can easily find the documents that have been scanned, Taxonomy is also useful in further refining search results. A well-designed Taxonomy will increase your search results and employee adoption.
  4. Enhanced security – A scanned document is trackable document. If needed, only certain users can access the documents and workflows can be set up along with permission groups for an individual, which enhances the security and maintains the confidentiality of the document.
  5. Enhanced Information Preservation – Information stored in paper formats is degradable information, and degrades further every time it is handled manually. Document imaging ensures that your business’s most important data is saved and preserved for the future.
  6. Disaster recovery – There is always a risk of disaster, whether it is natural or manmade. Fire, flood, earthquakes or other destructive phenomenon may cause a major disaster for your paper documents seriously affecting your business. Document imaging offers you to have a safe repository of your data which can also be shared on cloud or your local document management system, enabling you recover precious documents with a simple click.
  7. Saves space – Real Estate space is expensive, eliminating paper storage can give you with more space, reduction in rent, reduced off-site document storage fees or potential to open up a new office.
  8. Stay Competitive – From multinational firms to small organization, digitization has been the mantra of the new age document management. Document digitization efforts have repaid businesses in reduced costs, efficient workflows and satisfied customers.
  9. Environmentally friendly – Document Imaging and overall document digitizing process adds to your green credits and is an environment friendly initiative. It removes the needs of creating multiple backup copies and unnecessary printing, increasing the eco-friendly quotient of your company.
  10. Digital Transformation – Image scanning is a first step in building a digital transformation plan. Early adoption is the key for organizations to ensure digital success and focus on cost savings and standardization.
    Business leaders today emphasize on Document imaging as the first step towards digitization. When implemented accurately with the help of an experienced service provide like iDOX your company can see patterns of benefits with respect to cost and efficiency across various verticals in the organization. Investment in Document imaging promises many advantages and an exceptional ROI when going paperless