Digitizing your legacy paper trail – why its time to digitize and move to an ECM
In this newsletter, I am excited to bring to your attention a growing concern that many organizations face: the challenges posed by legacy paper document management.?
In today's digital world, it's more important than ever for companies to digitize their old paper documents and move to an Electronic Content Management (ECM) system. This not only reduces the costs associated with paper-based processes but also improves data security, accessibility, and collaboration.
Manually managing documents is a labor-intensive process that takes time away from other important business operations. ECM, on the other hand, is a technology that helps companies effectively manage digital documents. With ECM, companies can digitize their documents, store them in a secure central repository, and retrieve and manage them efficiently using automated workflows.
Here are some statistics that show why it is time for businesses to switch to an ECM:
1.?????Paper-based processes are costly: according to AIIM, companies spend an average of $20 to file a paper document, $120 to search for a misfiled document, and $220 to reproduce a lost document. Digitizing your documents can save you money by reducing these costs.
2.?????Lost documents are a common problem: the same AIIM report found that 7.5% of all documents are lost and 3% of the remaining documents are misfiled. This means that 10.5% of all documents are mishandled in some way. Digitizing documents and storing them in an ECM system can help prevent the loss of important information.
3.?????Remote working is on the rise: In view of the COVID-19 pandemic, many companies have had to switch to teleworking. Digitizing your documents and switching to an ECM system makes it easier for employees to access important information from anywhere and at any time.
4.?????Data breaches are a growing problem: According to the Identity Theft Resource Center, data breaches increased by 68% in 2021 as compared to 2020. Paper documents are vulnerable to theft, loss, or damage. Digitizing documents and storing them in a secure ECM system can help reduce the risk of data breaches.
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5.?????Customers expect digital processes: Today's consumers expect fast, digital processes from the companies they do business with. Digitizing your old paper documents and moving to an ECM system can help improve the customer experience by streamlining processes and making information more readily available.
Additionally, the use of ECM improves productivity and efficiency. Research shows that companies using ECM can increase productivity by up to 50%, resulting in significant cost savings.
The benefits of ECM are not limited to cost savings and improved efficiency. ECM also enables better collaboration and teamwork within the organization. Users can access documents based on their privileges, allowing teams to collaborate across many locations. Accessing the entire lifecycle of a document during compliance audits is a breeze with an ECM.
In conclusion, digitizing your old paper documents and switching to an ECM system is no longer a good idea, it's a necessity. This way, companies can save costs, increase data security, ensure compliance, and provide a better customer experience.
I’d welcome the opportunity to introduce myself… and discuss how we help clients gain clarity… and build a roadmap… to move from a traditional paper-based documentation system to an ECM … in today’s fast-paced digital environment.
?? If you are open to a different perspective to streamlining your organizational data and content, schedule your COMPLIMENTARY session - email me:?[email protected]
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