Three reasons why organisations must store documents digitally

There is an unprecedented growth in business content and data and, businesses are presently facing the challenges that come with storing documentation. Many organisations are still storing both original and hard copies of their data, and have yet to become aware that this type of document storage is both costly and inefficient. Tighter regulations on data protection are also making compliance a growing, yet inevitable, challenge that’s affecting the entire business world. To add to these challenges, customers are also beginning to demand more streamlined and secure services. Sound familiar?

The market has reacted to the challenges through the creation of digital solutions of which businesses can adopt. One of the latest trends in document management, known as Content Services, encompasses a wide range content management features aimed at digitalising documents so that you can turn your business content into a digital asset which provides business value. This technological solution can help businesses automate workflows and centralise data in order to overcome the struggle that comes with physical document storage.

This brings with it a number of benefits for companies adapting to new systems. Here, KYOCERA Document Solutions identifies three of the most important changes that businesses experience when implementing content management systems:

1. Lower costs

According to KYOCERA’s Business Digitalisation in Europe Outlook 2019, 28% of businesses claim that they don’t have enough space for storage within their facilities, and this comes at a cost. As real estate prices are on the rise and the amount of documentation to be managed increases, companies are beginning to see a clear need for a more sustainable approach in favour of physical document storage.

The introduction of a content management solution in a business can enable it to make more efficient use of its overall resources. By using information management tools to capture and manage documents, physical space is freed up and expenses are reduced. Simply put, dead space in offices will then become a thing of the past, providing companies with opportunities to find ways to better utilise their facilities.

2. Enhance security

Whether digital documents are generally safer is no longer the question of the hour. Paper files can get easily lost or destroyed and seen by just about anyone, while digital files managed within a content solution are nowadays virtually indestructible and can be restricted to authorised individuals. 

When a business decides to digitise their documents while using a Content Services solution they are also provided the opportunity to make their content secure and managed. A task much easier to implement when dealing with digital files. Companies are able to control who has access to their sensitive documentation to and to prevent the information from falling into the wrong hands. As such, Content Services enables users to create rules that only allow certain individuals or groups within a company to access specific data. Rules can also be created that authorise access to employees who are on a specific management level, while always keeping audited tracking of who has accessed the content.

3. Fuel efficiency

The average employee often spends just as much, if not more, time looking for information than actually reading and using it. Having digital archives where desired documents are just a few clicks away can lead to a boost in efficiency within the workplace, with an increase in productivity often found after the implementation of a tool like Enterprise Content Management. 

In KYOCERA’s Business Digitalisation in Europe Outlook 2019, almost one in every three organisations admitted to wasting too much time processing documents and also recognised that having different versions and various copies of the same document saved across
servers and devices as a major problem.

In the end, this means that day-to-day operations become time-consuming and complicated, for instance within contract management, where lost business or delays in negotiations can be caused by extensive paperwork.

Making paperwork digital can solve these problems and prevent many more. Modern software solutions allow businesses to capture and digitalise documents, while indexing them, and above all, turning them into useful, searchable information. 

In today’s fast-paced market, a company can gain a competitive advantage by using the right technology. Digitalising documents and centralising information with Content Services in a business can lead to significant savings in time and money, while boosting overall efficiency and providing better opportunities to utilise resources.

If you found this article useful, you might also be interested in reading our recent study on the extent of digitalisation in companies across Europe.