IDC studies show that paper-based documents remain a problem for most organizations, regardless of size or activity sector, and represent more than half of existing documents in organizations. Search and access to paper documents is extremely time consuming and the collaboration is difficult. Integration with back-office systems requires manual tasks prone to errors. Paper document storage is expensive and file management is a challenge. These factors have a negative impact on compliance efforts and information security.
Simultaneously, organizations have to manage the input and output of increasing volumes of structured and unstructured content from a multitude of digital channels. Often the content needed to complete business processes is stored in multiple and different silos. And content consumers – including customers, partners and investors and, increasingly, mobile employees – expect the delivery of accurate content to the right people at the right time and context and through the preferred medium.
However, it is essential to understand that workflows automation and optimization is not only the replacement of the workflow based on paper by digital versions. Organizations should take advantage of the technologies of the 3rd Platform – cloud computing, mobility, big data and analytics, and social media – to develop new business models and new document management solutions.
This Documents Digital Transformation provides a number of benefits, including:
- Cost reduction – reducing the amount of impressions and related hardware, software, consumables, and storage enables cost reduction, but organizations can also benefit from processing accuracy, errors removal, and fees elimination due to regulatory non-compliance.
- Improved employee productivity – workflows of digitally transformed documents reduce the need for human intervention. This includes the time spent on the search and extraction of documents and error resolution. Access anytime, anywhere, facilitated by cloud computing services and mobile solutions, means that employees can maximize their time and collaborate more easily.
- Improved security and regulatory compliance – automating document workflows increases accountability, auditability, and security of critical business documents. Digital workflows solutions can control access to content and help minimize the unauthorized distribution of confidential information.
- Competitive advantages – new models of critical business documents can be aligned with comprehensive business goals such as reducing cost/time per transaction, improving decision-making process and effectiveness of managers, and improving collaboration with suppliers. The digital transformation of document workflows enables new customer engagement methods and new connection models between customer engagement systems and file systems, providing the improvement and integration of experiences, better information and knowledge, and optimized processes.
How digital are you?
According to Deloitte, Digital Maturity is evaluated on 5 key themes that help understand where existing strengths lie and which capabilities may need to be developed to truly modernize and transform organizations for the future:
- Strategy and leadership: “Do we have the right vision and strategy for digital, along with the leadership and focus required to support this vision?”
- Customer engagement: “Do we have the right approach to understanding and communicating with our customers to succeed in the digital environment?”
- Products and services: “Do we have the right products and services and the ability to develop, manage, and provide them effectively?”
- Organization and talent: “Do we have the right people, talent, skills, and knowledge to support our vision, products, and services?”
- Digital operations: “Do we have the right processes, controls and digital technologies to support the operations of the organizations?”
– Identify critical processes – look at your organization and find the critical processes that influence your business and you need to work – cash flow, sales, customer satisfaction, and so on.
– Place mobility in the centre of the processes – think of it as the starting point to collect and integrate data.
– Delegate authority on business lines (LoB) – make them lead the process, they bring more awareness, they know everything about efficiency, productivity, risk assessment, and all other business processes that need to be addressed.
– Take down information silos – end-to-end processes need to be corporate wide.
– Move on with a personalized assessment and let us demonstrate the feasibility of our process dematerialization concept.
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– Download our eBook in partnership with IDC “Digital Transformation of Document Workflows: maturity scape, market research and guidance”.