Businesses have been trying to move away from paper for office use for decades, but the physical paper is still prominent in the majority of organizations. Companies prefer to use paper because it is easier to access, organize, transport and store. A noticeable trend in the last few years is that organizations are moving away from paper to digital documents as the first step toward digital transformation. Digital copies can be reproduced at any time so that people can access them when needed or send them out in an email or through a file transfer protocol (FTP) request for others who need access to it.

When it comes to storing and securing valuable documents, there is no better option than the cloud. The process of scanning, sharing, and controlling digital papers/documents have been simplified for the customers. Stored documents can easily be retrieved online or saved on a personal computer. Digital documentation tools also ensure business continuity with work from anywhere culture after the Covid-19 pandemic.

Digital documents are the backbone of a successful modern organization. They enable businesses to improve their workflows and reduce overhead costs. With digital documents, companies can streamline record management and ensure confidentiality for work records. Digital documents include paperless digitization of documents, photos, video, and audio materials creating digital information resources and digital archives. Opteamix’s digital documents service offering provides complete digital document management with security and compliance. At Opteamix, we recently helped a leading US healthcare provider achieve sustainability by digitizing different types of physical forms. Read the complete case study here.

Embrace Digital Documents and Go Paperless

Creating a digital copy of the documents secures them from loss, damage, theft, and fire. Stored documents can be easily retrieved with digital copies available online. The significant benefits of digital records are:

• Document Chaos – Finding one document among a thousand can be difficult and time-consuming. Digital documents offer real-time visibility of the documents 24/7 and require no additional hardware or software to view them.
• Storage Space – By accepting digital documents in their daily processes, organizations eliminate the need to physically store the documents, helping organizations save money on space rentals. Since the entire document is stored in the cloud, employees can access and request documents from anywhere.
• Securitized viewing – Digital copy is encrypted and always password-protected to provide secured access to confidential documents. Most organizations use digital storage as a preferred tool to share files securely, bypassing the attention of online hackers.
• Cost Benefits – Digital documentation can help companies reduce operational costs and save time on redundant processes. Investing in digital documentation tools can reduce the need for copying, storing, and extracting papers, freeing up employee time.
• Environmentally Friendly – Many organizations are moving in a conscious direction to reduce carbon footprints in the coming years. Going paperless can help attain sustainability and contribute positively towards the impact of climate change.
• Improved Compliance – Digital documents meet the HIPPA, FERPA, and COPPA compliance guidelines. People can electronically request large documents and receive signatures on any documents in no time. Digital copies are available in standard formats, such as PDF, Microsoft Office files, and EPUB.

Digital Signature, Guided Forms & OCR

Digital /Electronic Signatures have become a prevalent method of signing documents, replacing traditional paper-based signoffs in many cases. The use of digital signatures enables companies to legally bind documents with legal contracts and agreements and prevent forged papers from being used as evidence against them. As per a report, the use of e-signature has increased by 50% since 2021.

Guided Forms provides a user-friendly step-by-step flow to help signers complete long and complex forms effortlessly with customizable intelligent guided forms. The most common business use case for Digital documents is Business-to-Consumer self-service scenarios, such as application tracking, onboarding, edits, etc.

Optical Character Recognition (OCR) is a revolutionary technology that converts scanned documents or images into accessible electronic versions. OCR is mainly used to automate data entry and processing. OCR software can convert printed paper documents into electronic text versions, such as PDFs or images. A recent study says that the global OCR market is expected to grow to USD 33.44 billion by 2030.

Here is why the document management system is gaining immense popularity:

• Uses an integrated web scanning tool compatible with all the scanners.
• Can capture data from any electronic and physical documents.
• Importing large volumes of files using the built-in and automated tools is possible.
• Capture content from an image with OCR tools by converting pictures to text automatically.
• Easy Integration with desktop, mobile, and apps provides a seamless flow of information
• Categorize the documents using rule-based engines that leverage Artificial Intelligence and Machine Learning (AI/ML).

Conclusion

Digital copies of valuable documents are the best way to protect them from accidents or theft. Organizations can always use them as a replacement for paper copies in case of damage or loss. They do not have to worry about document storage after our work is done. Organizations can also use online storage services or save them on a personal computer. Digital copies of valuable information will not be damaged by external factors and will always remain accessible.

If companies are still spending hours in invoice generation or find themselves stuck in mundane paper documents, Opteamix can help organizations automate their workflows with its proven digital document solutions. Learn how digital forms are helping our partners save a tremendous amount of money and eliminate time spent on data entry or file searches; get in touch to speak with our digital transformation experts today. Our digital document experts will leverage a sustainable and optimal digital document management solution resulting in the finest customer experience.