If you’re in charge of overseeing your organization’s paper records and other hard copy files, it’s time to think about scanning your information into digital images. Of course, we’re not implying that you scan your files yourselves; your company’s scanners are unlikely to be big enough to handle a large number of paper files and financial documents you’ve been storing for years. The great news is that a professional document image processing and scanning service company will handle all of your electronic capture requirements quickly and efficiently.
The specific document retention period will vary based on the legal jurisdiction in which a business operation is located and the type of document involved. For example, in the United Kingdom, the statutory retention period for medical records is 40 years since the last entry. In comparison, the retention policy for financial documents for public companies is six years. Certain digital documents are expected to be kept indefinitely. These regulations apply to all data types, from files to reports to images, which is why digitizing and storing all data has become so critical.
But, aside from reducing office clutter, what are the benefits of Document Scanning Services as a method of storing information? We have compiled a list of only six, and there are others.
Deter File Loss:
An essential page has been removed from a file, leaving information unfinished and impeding preparation for a critical strategy meeting. You eventually find it, but only after weeks of searching at the bottom of a storage room. According to a recent study, approximately 7% of paper documents are misfiled each year, and 3.5 percent of all hardcopy documents are lost. Digital documents are kept in one easy-to-access location rather than at the bottom of a cabinet.
Fires, floods, and other natural disasters can permanently destroy complex copy documents, resulting in data loss. Scanned images from your company’s records, on the other hand, can be supported up to the cloud or a remote location and made accessible during and after a disaster.
The measured average cost of a significant loss, including fires, floods, hurricanes, gas, and power outages, is $506,906, as per the AIIM eBook, Information Management for Facilities and Operations: Knowing Your Gaps is Key to Catastrophe Preparedness.
Easy Document Transactions:
Documents can be received or forwarded at any time and almost instantly, thanks to the omnipotence of digital technology. No need to make a copy and mail it out any longer, and there’s even less point in waiting days for the records to arrive. Once you’ve decided to scan your hard copy records into digital file formats, you’ll be able to quickly and easily discover and send required information!
Rather than digging through mountains of paperwork to find something specific, you will be able to search quickly, archive, and retrieve your documents on a computer or even your mobile device. In addition, document scanning allows users to keep all of their data in one location.
All businesses strive for a cost-effective office and are willing to invest in new technologies to accomplish that goal. A printer that saves a half-cent per page is helpful, but it pales compared to the cost savings associated with a paperless office. Because digital documents can be shared virtually, lesser copies must be printed, resulting in substantial savings. When the specular reflection in paper waste is factored in, the environmental value of such a change becomes more appealing.
Reduce Company Footprint:
Scanning your documents and saving all that ink and paper will help your company go green. If you choose to shred your documents, make sure to select a document scanning partner who will shred and recycle all of the paper for you after the scanning process is completed. Paper accounted for 26 percent of all municipal solid waste in landfills in 2014. Making the switch to electronic documents reduces waste in your organization. Making the switch to electronic records reduces waste in your organization.
To Sum Up,
Docupile offers more than Document Imaging and Document Management Services. Contact Docupile as your document scanning partner to protect and safely transact your critical documents and data.