Companies that still rely on paper for everyday business processes, they end up decreasing productivity and increasing costs, which in turn decreases the revenue of the entire organization.
According to a report, an average office worker utilizes 10,000 sheets of paper every year and wastes over 1,410 of them. That comes down to $80 a year per employee.So, if you have 500 employees in your company, you’ll end up losing $42,000 just because of paper.
Paper has become a burden for companies and doing business at the speed of paper just isn’t acceptable anymore. On the other hand, the benefits of going paperless are numerous. In fact, when organizations remove paper from their business processes, they are able to reduce costs and save time by quickly sharing and accessing information. With digital transformation, companies are able to improve decision-making, efficiency, and profitability.
Even though becoming a paperless office is a big multi-phase process, going paperless and reducing manual activities is the first step towards digital transformation and it has become a necessity for organizations to undertake it in order to increase business efficiency and get ahead of their competitors. In this article, we will be discussing why digital transformation and going paperless matters to businesses and how they can implement it.
Reducing and automating paper-based business processes
While the end goal is pretty clear, eliminating and automating paper-based business processes in organizations includes multiple steps which need to be followed correctly to make sure the digitized processes work seamlessly.
Here are clear steps for a company to eliminate and digitize paper-based business processes
The first step is to digitize all the physical documents in the organization including contracts, letters, files, records, and tax forms.You can scan these documents while the computer system can organize and sort them. It’s important to add metadata for every document so that they are easily searchable by anyone in the organization. With technologies like OCR (optical character recognition) and computer vision, it becomes easier to search and identify scanned documents or images as well.
While it may seem like a time-consuming and tedious task, it will help clear up physical space in your office and have long-term benefits. After your digital system is in place, it will be able to capture data on its own and allow you to trace, search, or transfer it easily.
With your documents digitized, the next step is to identify repetitive tasks in your organization and automate them. Since your business processes are now paperless, it’s no longer necessary to manually perform mundane tasks which can be easily be automated through Resource Process Automation (RPA) .
This step will free up time for your employees and allow them to focus on more important tasks which will in turn lead to a more efficient and productive workflow across your organization.
With your data digitized and business processes automated, you can integrate cross-functional processes in your organization on in order to increase operational transparency and efficiency. By seamlessly integrating business processes, it also becomes easier for different departments to work together and collaborate.
One of the most powerful benefits of digital transformation is that you are able to gather analytics and metrics about your business. With a bird’s eye view of your organization’s workflow, you can identify the strengths and shortcomings of your company. Hence, you are able to drive innovation by leveraging analytics to align your business goals with processes.
Going paperless and moving towards digital transformation is no longer an option for organizations, it has become a necessity for them to stay relevant in the industry and get ahead of their competitors. Doc2Digital is one such Computer Vision powered Intelligent OCR platform which helps digitize scanned documents you can consider to kick start your Digital Transformation journey.Loading Likes...