Automating document-intensive business processes probably isn’t the first thing on your mind when you walk into the office Monday morning. Between critical system maintenance and an inundated inbox, you’ve got plenty to keep you occupied. You won’t be surprised, then, to find out that 65 percent of US organisations are laggards when it comes to digitising and automating document-based processes.
Here are three reasons why you may want to give it a little more thought next Monday:
1. Primed for innovation
If you’re a little weary of digital transformation campaigns, we don’t blame you. It seems just about every aspect of modern business has fallen prey to digitisation of some kind. That said, let’s not lose sight of its purpose: to foster an environment of innovation.
Those who have digitised, automated, and otherwise optimised their document processes have likely discovered that their new environments are far more conducive to innovation. With that in mind, let me throw some quick numbers at you:
- 43 percent experienced a reduction in time spent recreating lost or misfiled documents
- 42 percent encountered a reduction in costs to store documents
- 58 percent discovered increased visibility, auditability, and accountability
These figures represent impactful changes experienced by those who endured one or more digital transformations. Decreasing costs and wasted time while increasing usability of the very documents your business runs on frees up your resources to drive innovation.
Think about it this way: How effective would the rebel attack on the Death Star have been if they used old-fashioned pen and paper to recreate the schematics? Let’s just say there wouldn’t have been an episode five and six. You may not be organising a force to defeat an evil empire, but the concept—and benefits—remain the same.
2. Cause, meet effect
It’s a simple enough equation: efficient and effective document processes = efficient and effective business. If documents drive business, you could say the success of said business was at least partially predicated on the efficiency and accuracy of those documents. Head spinning yet? Try it this way: Documents are the best way to store and present business information. It makes sense that automating and digitising them would be a priority.
When asked about this concept, respondents in an IDC survey noted that errors in their document business processes were reduced by an impressive 43 percent. When you take the human element out of these processes, they become more accurate. More accurate document processes lead to more accurate business decisions. You get the idea.
3. Securing business assets
If documents are how we store the information that drives business success, document security should be a top priority, right? According to IDC, 44 percent of knowledge workers still rely on highly manual, paper-based processes. These processes are inherently vulnerable thanks to the human proficiency for error and their reliance on physical assets.
To that end, automating and digitizing yields some eye-opening results. In the healthcare industry, for example, 54 percent of knowledge workers noted reduced compliance and business risk. Another 59 percent of knowledge workers in legal, compliance, and security saw a noticeable reduction in the time it takes to ensure compliance. Automating document-intensive business processes allows you to monitor and secure your organisation’s critical information in ways that physical and manual processes never could.
If digital transformation of document processes is so amazing, what’s holding everyone back from greater adoption? As it turns out, a combination of unique factors. Disparate systems, competing IT initiatives, and a simple lack of understanding lead the way. For these groups, taking a peek at managed services for document automation and digitisation solutions is a solid idea.
In the end, physical paper-based processes just aren’t as fast, efficient, or secure as their digital counterparts. Fortunately, there’s never been a better time to make the leap.