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.
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.