Getting Started on Digital Transformation
Document Scanning or Imaging may seem like an ancient technology by today's standards. However, it is a key part of every company's digital transformation.
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Top 3 Reasons Businesses Still Keep Papers
1. It is mandated by law
Business entities are required by law to retain records. Some of the regulations even require 10-year retention.
These records tend to multiply after some time, and thereby, incur expenses from its storage. Not to mention the time it consumes from an employee who could have been paid doing more valuable tasks, rather than just locating documents.
The good news is, some agencies recognize this. The BIR, for example, allows companies to store electronic copies, and dispose of the physical copies that have reached the 5th year of the 10-year retention policy.
2. Status quo
Despite the potential benefits of switching from paper-based processes to electronic ones, some managers and business owners continue to rely on paper in fulfilling business processes. This is mainly due to budget constraints, and companies failing to realize the massive cost-saving potential of an automated document management system.
Are you aware that paper invoices are being duplicated 4 times?
- Sales Copy
- Accounting Copy
- Auditors Copy
- Logistics Copy
This results to:
- 4 times the cost of copies
- 4 times the volume of paper an employee needs to search through
- 4 times the cost of retention
- God knows how many trees
- Absolutely great business for paper suppliers
3. You just happen to love paper
Unfortunately, a lot of old businesses have a love affair with paper. Old habits die hard, indeed.
Digital Transformation Cannot Happen Overnight
Plan and implement one business process at a time
Digital Transformation requires a change in mindset, not just technology. Not everything can be digitized or automated.
Companies have to start by identifying processes that:
- Involve a lot of steps
- Involve a lot of copies
- Involve a lot of labor
Thereafter, review what can be improved or trimmed down and implement changes one at a time, to avoid getting overwhelmed.
Moreover, it is important to get the whole team and even the stakeholders involved with the analysis.
Processes need to get ready
Before any business transformation can happen, processes need to be primed for it. Check if the dependencies are ready --management support, equipment, communications, reports, and budgets.
People need to get ready
For a successful business transformation, companies have to recognize that digital transformation is about people, as well. Getting people ready for change can be quite challenging and might require will-power, or sheer determination from the project owners.
Some steps that can be taken are:
- Accessible training
- Support desks
- Change in environment
- Centralize and digitize records
- Remove printers and
- Allow approval of transactions by email or some automation.
- Empower more people
WANT TO GET STARTED?
Check out Makati Medical Center's Project Profile and find out how we were able to help MMC in managing their documents.
Archive One is a document management software designed to help companies easily classify, store, secure, and retrieve essential company documents that are needed for retention and audits. With the help of our partners, we provide an end-to-end document management solution from scanning to document storage, at a highly competitive price.