Many companies take advantage of document scanning services as part of an effort to streamline operations, to get organized, maintain regulatory compliance, and more. But, why exactly is document scanning so important? Read these 3 common reasons document scanning is important for businesses:
Why Document Scanning Is Important
- A dispersed team
If crucial documents and records are locked in a file room in a physical office, it will undoubtedly be challenging for distributed teams. More and more companies are allowing employees to work remotely around the country and even around the world. Top organizations in every industry can instantly and securely share information with just a few clicks of a mouse.
- Instant access is necessary
When electronic files are indexed correctly, they should be accessible within a few seconds. If employees in your company regularly have to make snap decisions, having quick access to documents they need is vital to success. Many ILM clients operate call centers or need to approve credit applications.
- We need to adhere to regulations
When records have retention schedules beyond a year or two, digitizing them tends to be the most cost-effective and efficient choice. This frees up office space and provides a secure way to maintain information since the risk of loss, damage, or misplacement is negligible. Digitizing is the perfect choice for CPAs and others who have to maintain legal records.
What does document scanning cost?
In almost every case, physically storing documents is approximately six times less costly than scanning them.
It typically costs around $5 per Banker’s Box-sized carton per year to store documents. Scanning that same box is likely to cost $150 to $200. From a short-term cost perspective, physical storage is cheaper. This does not, however, make it better.
Consider, for example, other factors outside of cost, such as:
- Security
- Accessibility
- Regulatory requirements
- Ease of use
- Risk of loss or damage
When these issues are evaluated, it tends to become clear that professional scanning and document management is the way to go. This reduces the risk of loss and allows your company to use your storage space for other things. ILM will work with you to determine the goals of your organization when it comes to managing paper and information.
Estimate the Cost of Scanning Documents
How will your digital documents be used?
Begin with the end in mind. How will your end users use digital documents? Will they be permanently stored and rarely opened? Or, will they be accessed by multiple people on a daily basis?
The frequency with which your documents will be used helps ILM determine several factors:
- File format
- Indexing methodology
- OCR/search capability
The level of indexing, such as “Folder” or “Document-Level”, can have a serious impact on the success of a project. If users in your office search for physical files by ID numbers, electronic files are stored under first and last names, it would lead to confusion..
Using OCR
The use of optical character recognition (OCR) can also have a major impact on your scanning project’s outcome. OCR turns a picture of any document into an editable file that can be changed or updated as needed. OCR accuracy will vary greatly depending on the quality of your organization’s original documents, so ILM recommends testing a sample document first.
The ILM Difference
As you research whether or not document scanning is right for your organization, ILM urges you to call us at 540-361-6349 and read our outsourcing tips for document scanning.
ILM creates a custom solution to fit the needs of your business. Our one-contact advantage means that you will be working alongside one of our certified project managers for the duration of your project rather than bouncing from contact to contact. Our expertise makes all the difference – your satisfaction is our priority.
