As the head of your organization’s convert paper record storage and other hard copy files, you should consider scanning your information into digital images. Your office’s scanners are unlikely to be large enough to handle a large number of pieces of paper files and scanning financial, physical documents. Professional document image processing and scanning companies will rapidly and efficiently convert your documents into digital images.
The retention period for specific documents is often determined individually, which will vary depending on the organizational or company location and document type. In the United Kingdom, medical records are legally required to be retained for 40 years from their last entry. The retention policy for financial documents filed with public companies is six years compared to paper records. Other digital documents are expected to be kept indefinitely, so digitizing and storing all data has become critical functionality of many businesses today.
However, document scanning services carry many benefits.
Scanning is an effective way to keep important documents.
Scanners have various purposes, including copying, archiving and sharing. The devices capture images from print papers, photos, magazines, record books, etc., transferring them to the computer. In short, it creates a digital copy of the essential documents. As files and data expand and copies increase, document management becomes overpowering. Scanning financial Documents and storing them on a hard drive or server makes organizing the work more manageable.
We’ve made a list of six that we think you’ll find most helpful.
Deter File Loss:
You experience a genuine frustration knowing you are sabotaging your hard work. You look on the bright side, remembering that it was probably accidental, and at least now you know where to keep important documents. According to a recent study, 7% of paper documents are misfiled every year, and 3.5% of all hardcopy documents are lost. Digital records can be kept in one easy-to-access location rather than at the bottom of filing cabinets.
Natural disaster recovery like fires and floods can destroy your hardcopy records, including important documents. Scanned digital files from your organization’s documents are easier to manage in the event of such an emergency.
The measured average cost of a significant slight business loss, including fires, floods, hurricanes, gas, and power outages, is over $500K. Protection of hard copy information is rugged. Scanned documents are encrypted, password-protected, and safely stored in the Cloud. The company can assign access levels to particular users and track all file activity.
Unfortunately, if someone has essential and confidential documents and wants to preserve them for an extended period, this process evokes every time they are handled. Document scanning is like the ‘last touch’ solution. It lets the user protect confidential information from physical deterioration. Also, it has the extra advantage of improving the readability of old hardcopy files.
Easy Document Transactions:
Documents can be received or forwarded in almost any location and at any time. There’s no need to copy the paper before delivering it, thanks to digital technology. There’s a minor point in waiting days for documents to arrive when they come via e-mail. Once you decide to take digital images of your hard copy records, you’ll be able to find and send the required information in no time at all. Along with this, compliance is also an unavoidable truth for most businesses. Document scanning makes it easier for companies to fulfill their legal and regulatory responsibilities. Also, digital files are organized, indexed and produced quickly to meet the demands of the company’s auditor.
Digging through a mountain of paperwork can be time-consuming. Still, with document management solutions, you will have the ability to search quickly and archive documents for retrieval—benefits of scanning documents such as having all of one’s data in one location. Confusion kills productivity. Confusion regarding paper does not have to be the medium of chaos in the office. Document scanning prevents excess paper from building up in the first place and allows enough storage space for employees to be as productive as possible. A survey found that it takes an average of 37 minutes to find one paper file. Document scanning simplifies file access for the organization. Files are retrieved quickly and easily without having to leave the desk.
All companies are looking for ways to remain cost-effective in the office and invest in new technologies. A printer that saves a half-cent per page is helpful, but it pales next to the cost savings associated with a paperless office. Document scanning can reduce the amount of paper used in copy machines by half. The digital documents can also be shared virtually, without printing. If any company has customers in more than one region, it’s hard to provide consistent customer service. In place of printing and mailing bills, invoice statements, credit card bills, receipts and other items, document scanning ensures getting important information in a digital format to the clients much faster. Document scanning is not only good for business, but it also benefits the environment. According to the Paperless Project, the average office worker uses 10,000 sheets every year. That’s a lot of trees. Even if a small fraction of that paper ends up in the wastebin, it harms the environment. Document scanning highly reduces the business’ paper consumption for a greener and healthier planet.
Reduce Company Footprint:
If your company stores paper documents and wants to go green, scanned documents are an environmentally friendly solution. Document scanning also benefits the office space by reducing clutter and saving printer ink! The paper industry accounts for 26% of municipal solid waste in landfills. Reducing paper records reduces your organization’s contribution to the dump.
Below are some of the brief advantages of document scanning:
1. It provides new space for more productive business functions.
2. It reduces clutter to become more organized.
3. It ensures moving to a smaller office and reduces rent costs.
4. It eliminates the risk of losing important and confidential information if paper documents are damaged, lost due to any natural disaster, or theft.
5. Digital documents are securely stored and backed up in an online electronic documents management system.
6. Essential documents can be easily accessed and shared from multiple locations.
7. Scanned documents last forever and never deteriorate with time, as do paper documents.
8. Digital images and indexed data are formatted for integration with the latest EDMS or Electronic Document Management System.
9. It ensures peace of mind knowing that the crucial data is secured, protected and compliant.
10. Digital documents are easily found with a simple keyword search.
To Sum Up,
With so many benefits to scanners, users wonder what the drawbacks might be? Honestly, there isn’t any. Using a quality scanner to scan documents and create backup files can protect the paperwork. Docupile is more than a cloud-based Document Imaging and Document Management Service. Contact Docupile to protect your critical documents with scanning services.