In today’s digital marketplace, efficient organizations are looking for innovative ways to manage their business, which is why most of them are keen on understanding what is blockchain technology? Organizations are also looking for various ways to reduce their paper storage challenges as it’s getting to much of an hassle. On average an organization that has 150 employees will go through 300 boxes of paper annually, costing the business around $12,000 solely for paper which increases paper storage costs significantly (SK Record Storage blog article, June 26, 2018). To avoid this conundrum, organizations need to find a reliable partner who can convert their paper into easily accessible digital images. This is a vital step towards achiever higher efficiency.
Organizations cannot afford to keep storing their paper for many important reasons. Check out the following cons of sticking with paper:
- Paper occupies valuable physical storage space leading to unnecessary expense year upon year
- If the paper storage is onsite – then the cost of filing cabinets, and additional labor costs apply
- Paper records storage can result in paper damage in many cases
- Paper records can get lost, destroyed or stolen – so poor security
- The document transportation process can be inefficient with off-site storage
- Paper records cannot be accessed quickly which adversely affects customer service
- Labor retrieval costs associated with paper can be astronomical and can add up year upon year
- A paper record does not align well with workflow processes leading to limited collaboration
- Paper records can prevent achieving legal compliance which require quick accessibility to records based on strict guidelines, and laws/regulations.
- Paper files cannot easily be edited directly, forcing users to make new copies to update old files
According to an article published in the Houston Chronicle on July 27, 2018:
“One of the primary disadvantages of a traditional file environment is the time it takes to access data. It can take minutes if not hours to locate a few files in a large paper filing system. Electronic databases allow for almost instantaneous access to information. Faster data access time can increase the productivity of workers who use data on a regular basis.”
If optimizing productivity and efficiency are goals that your organization wishes to achieve – then look no further. Eliminate paper-based storage and all the obstacles given above that accompany it. Then team up with a reputable document management company that can help you with day-forward document scanning and greatly efficient electronic storage. For more information on how Foveonics can become your electronic document solutions provider, contact us.