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Digital Transformation Brings Cost-Efficiency to Businesses

Digital transformation is critical for all companies.

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Digital Transformation Brings Cost-Efficiency to Businesses

Modern Businesses need to become digital

In today’s increasingly digital world, companies face the challenge of converting all of their hard copy paper documents into digital records and ensuring that all new materials are digitized from the beginning. Despite knowing that digital transformation processes are necessary, only 38 percent of enterprises founded more than 50 years ago have a digital strategy in place.

Many businesses have records filling up filing cabinets and even entire rooms, which is hardly an effective use of space. The way forward is to begin the digital transformation with a step-by-step approach that first focuses on the departments or business processes that will benefit the most. From there, companies can expand their digitization to other business segments.

Businesses that fail to begin the digital transformation process will continue to find themselves at a growing disadvantage. With security threats everywhere, selecting the right hardware and software that uncompromisingly supports the process is crucial.

IDG State of Digital Business Transformation 2018

Modern Businesses need to become digital

Which documents do companies need to retain?

The amount of time a business needs to keep its records varies by industry and business methodology. Educational institutions may be required by law to hold on to records for a minimum of five or six years while legal or medical organizations might be obliged to retain files for ten years or more.

The types of files businesses keep also depend, but each will need to maintain records about employees, company and operational policies, legal files and financial documents such as tax filings, payroll records, profit and loss statements, and more. Without these critical records on hand, companies can run into legal or financial issues if government authorities request them.

Scanning this backlog of documents requires a complex process of receiving files, un-stapling, dispatching them to a scanner for processing and indexing, then re-stapling as needed. All of this needs to be done while maintaining quality control. The process can be simplified by using the right technology.

Which documents do companies need to retain?

Turn a cost center into a profit center

Outsourcing digitization and printing is expensive and removes a business’ control, which is problematic when it comes to sensitive or confidential materials. Bringing the work in-house requires an initial investment but the long-term benefits yield profits.

Canon’s Therefore document workflow software helps businesses cut down on administrative processes as it captures document information and makes it available through secure logins from any device so stakeholders can access information at any time.

Even as a business digitizes backlogs, it still needs to be able to rely on on-demand document printing solutions to control printing output and production costs. Canon’s imagePress range can handle complete document processing from design and creation to physical printing to archiving and storage.

A multi-function machine such as Canon’s imageRUNNER series is designed for ultimate productivity and document security, providing a company with everything it needs for on-demand printing.

Every company is looking for ways to become future-proof, and in order to achieve that goal, digital transformation is a necessary step. Although beginning the digital transformation process initially takes time, money, and employee training, the end result is truly beneficial.

The digital backup of documents enables companies to be back in control of their business continuity plans and with all information securely stored in the cloud, companies can not only mitigate security threats but also create the business processes that simplify time-consuming tasks, freeing up employees to contribute to more important work that drives company growth and profits.

Find out how to kickstart your business transformation journey with Canon.

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