Document Management and Going Paperless in Today’s Economy
Businesses are facing an increasingly difficult market, with limited access to credit, fewer qualified job candidates and weak sales. With conditions as they are, many companies are looking to streamline their processes to alleviate unnecessary financial burdens. One way companies are doing this is by adopting paperless document management software systems.
As the economy continues to stumble along, it is frustrating how technology continues to develop at such a rapid pace, thereby forcing professionals to adapt or implement such innovations with limited budgetary capabilities.
The amount of data companies need to maintain, store and interpret is also growing alongside breakthroughs in technology. Consequently, many firms are grasping the need to go paperless and implementing document management software to ease operations and business processes while also delivering the opportunity to focus on more pressing business needs.
These trends have also underscored the importance of instilling a company-wide focus on agility and innovation; as these attributes tend to define and determine the top-performing businesses across all industries.
In fact, a recent study by the Institute for Corporate Productivity and Human Resource Executive found 60 percent of high market performers’ responses suggested their company places value on innovation.
“High-performance organizations are the role models of the corporate world,” said Jay Jamrog, senior vice president of research at i4cp. “Our research has shown that these companies consistently place an emphasis on the five key domains of human capital.”
“As this year’s results show, their dedication to innovation and agility is intensifying,” Jamrog added. “They’re preparing for rapid change, and it’s going to be harder and harder for other, slower responding companies to keep up.”
But acknowledging and adopting innovative practices and technologies is only one aspect of document management. Businesses are also shifting their attention toward data management strategies in the face of rising security concerns.
While data breaches will always be a threat – regardless of how information is disseminated – paperless alternatives offer greater security controls and can be personalized accordingly.
Mike Skidmore, privacy and security officer at Shred-it, addressed the importance of securing data in response to a survey that found one-quarter of businesses have never reviewed their document storage and disposal policies.
“While most small businesses seem to recognize the security risks in their industry,” he points out, “they don’t believe they are the actual target for these risks and don’t apply the additional layer of security needed to prevent them from a potential breach.”