The world is becoming a difficult and competitive market. Everyone understands the need of going digital in this online era. As more businesses are moving towards online platforms, the digital front is also leading the market. Entrepreneurs are searching for ways to create digital organizations. They understand the reason why it is essential to go paperless.
For firms to grow, data management is the most important factor to address. In today’s competitive economy, every organization recognizes the value of document management. Document digitalization services have raised the bar for document management. Let’s talk about how to document digitization and digitized document management are altering the game.
What is Document Digitization?
Document Digitization is the process in which physical files are converted into digital format. Physical records are converted to electronic documents with help of artificial intelligence and machine learning algorithms. The digitization process has opened new horizons and scope of work for industries in the market. Digitizing the physical records has a number of benefits for the organizations that we will discuss in this article.
Advantages of Document Digitization
Document digitization has astonishing benefits for businesses these days. Every industry from healthcare to eCommerce is looking for adequate document digitization services to make their business future-proof. Here is a list of some benefits of the digitization process-
The document capturing and imaging process is responsible for reducing the turnaround time drastically. On average 15mins are required to search a physical document manually by an employee. Digitization enables the system to execute imaging and storing of documents properly and reduces the average search time to a few seconds. This time-saving effort thus increases organizational productivity.
The cost of the creation of digital documents is way too low as compared to physical records. The paper documents approach is quite expensive when it comes to document generation. Documents are generated using papers and high printer costs are also added to it. On the other hand, digital documents do not require huge investments in buying papers and printers. Only a single scanning machine, data imaging software, and a server can help you to sort out the process. This is the reason electronic document management is a very cost-effective approach.
Papers are made from trees and every day a massive amount of deforestation is initiated in order to just create paper. These papers are used for rough work and official work also. Approximately 17 trees are cut in order to produce one ton of paper for notebooks. The numbers are huge, it takes few minutes to cut down trees but takes years to get them back. Digital documents are safe for the environment and don’t produce deforestation. Digital documents are safe for the environment and don’t produce any major environmental hazards comparatively.
Securities of digital documents are more as compared to physical records. Anyone can have access to physical files and read confidential information. Digital documents are enabled with high security and access control. A proper access distribution in the organization can enable documents with high security.
Disaster recovery is far easier in the digital version as compared to the physical version. Physical documents can get tampered with even while shifting, storing, and searching the files. In case of any natural calamity or accidents like fire etc, physical files are very hard to recover. But, digital documents can be recovered a bit easier when compared to paper documents. Backups are easy to create and maintain in electronic documents comparatively.
The vast majority of documents go through numerous editing stages. This might mean that there are anywhere from 1 to 100 different versions of a single document, depending on the nature of the document and the size of the organization. Paper-based review and approval procedures can compromise document security.