Documents, whether electronic or paper, are an indispensable component of any business. Managing all of your business information, which is often saved in different formats and stored in different locations, can be an overwhelming task. That’s why document imaging exists. It alleviates the headaches that come with managing office paperwork and electronic files. Document imaging is designed to capture, store and retrieve both paper and electronic documents in an efficient, streamlined manner. Of course, with any new system or service, it is important to be aware of the technical and financial costs involved. Document imaging can be expensive, but many businesses find that in the long run, it is well worth the cost.
If all of your documents are on paper and your office experiences a disaster, such as a fire or hurricane, you could lose them forever. Even if they are saved electronically, this does not guarantee their protection. In the case of certain disasters, if the physical hard drive is onsite and incurs damage, the files could be irretrievable. Document imaging systems offer you the option to store your data off-site to protect your files in the event of an unforeseen disaster.
A document imaging system can be costly. You need to evaluate whether the upfront cost is worth the long-term investment. Here are 3 specific areas where your business can save money with a DIS:
Save money and eliminate the need for storage space by converting all of your company’s hard copy files into an electronic format. With document imaging, you can convert square footage into usable office space for your company. According to BusinessInsider.com, the average price to rent commercial real estate is $23.23 per square foot and continues to rise. If you allocate 500 square feet for file storage at the average rate of $23.23 per square foot, that equals $11,615 spent per year on real estate for your file storage.
$23.23 x 500 = $11,615
One of the often-hidden costs of the paper universe is the amount of money businesses spend on labor that is related to paper. If you have employees who regularly file or retrieve documents, you may be able to cut costs with a document imaging system. Let’s say that one of your employees makes $20 an hour and it takes him 5 minutes to go to the file room, find a file, take the necessary action, refile the document, then return to his desk. If that happens 12 times in a week, that equals 1 hour per week that he spends dealing with paper files, which equals 52 hours a year.
$20/hr x 52 hours = $1,040 in wages
When a document is lost or destroyed, there is a cost to recreate that document. Depending on the circumstances, replacing a lost document can cost as much as $120. A document imaging system ensures that all of your documents are secure and easy to find. You no longer have to worry about expenses associated with recreating a lost document.
Whether you’re a hospital that handles sensitive and confidential information or a small local business, security is a high priority. The documents at your company must be protected and secure in order to maintain the integrity of your business. Threats to your business can come from any of the following:
A document imaging system offers the protection you need. Standard security measures include:
If your business documents are tampered with, destroyed, or end up in the wrong hands, this could spell disaster for your company. Security is something that every business should take very seriously.
Remote access allows your employees to work from home, on the road, and pretty much anywhere for any reason. If you have employees who work remotely, a document imaging system is a great way to improve their workflow. Your staff has the ability to access any document regardless of their location. Multiple employees can be working on the same document at the same time in different locations. If you have a large number of employees working remotely, a DIS allows access to all necessary files through a web browser. NOTE: In some cases, certain software must be installed to enable remote capabilities.
Talk to your local suppliers about their requirements. Mobile Access via smartphone is the ultimate portable work device because it can be used anywhere. A document imaging system makes it possible to access all of your work documents on your smartphone. Whether you’re sending emails or managing social media accounts, smartphones have become a commonplace tool in the business world. Mobile document imaging software allows the user to:
Still unsure if a document imaging system is right for you and your business? If you would like to learn more about your options, see the Document Imaging resource center.
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