How to Digitize Paper Documents
Is your desk filled with stacks and stacks of papers? Do you feel like you have to endlessly sift through files looking for information? Do you dread dealing with your mountain of papers? Do you feel like your business is stagnant? If so, you may benefit from digitizing your documents. As an industry leader in document capture solutions, we understand the importance of getting control over your mountain of papers. In this guide, we explain why you should digitize documents, what documents need to be digitized, and how to go about doing so.
Why should you digitize documents?
Let’s face it. Unless you’re in the business of paper manufacturing, stacks and stacks of papers are likely not driving business growth. Consider digitizing your documents for several reasons, including those that follow.
- Reduce storage costs
- Reduce labor costs
- Improve document storage security
- Increase visibility into data and processes
- Expedite data retrieval
- More efficiently track and fulfill compliance requirements
- More quickly and consistently update documents
- Drive business growth
What types of documents should be digitized?
There are many different types of documents that should be digitized, and the list will likely vary from business to business. Take a look at the examples listed below. Which of these documents does your business use? Is there anything that you would add to the list?
- Invoices
- Client Contracts
- Employee Contracts
- Insurance Policies
- Letters
- Photographs
- Health and Safety Reports
- Bylaws and Policies
- Employee Handbooks
- Claims
- Insurance Information
- Financial Forms
- Proposals
- Marketing Materials
- Tax Documents
- Business Plans
- Sales Reports
- Style Guides
- Wills and Trusts
- Bank Account Information
- Contact Information
What are the best ways to digitize documents?
If you are still swimming in a sea of paper documents, it is time to make some changes. Consider the following options for document digitization.
Desktop Scanners
Desktop scanners offer a simple way to digitize documents. Desktop scanners vary in speed, resolution options, and software capabilities. The process can be tedious, and the capabilities are usually very limited, but it is an option if you want to digitize a small number of documents.
Multi-Function Devices
A Multi-Function Device (MFD), also known as an all-in-one (AIO) printer, is an office machine that provides multiple tools for managing, distributing, and producing documents. Businesses can use MFDs to manually scan documents into a computer. Additional features typically include printing, copying, and faxing functions. Bonus features may include duplex output, stapling, hole punching, folding, and editing modes. Digitizing documents with an MFD is a hands-on, time-consuming process that may involve technical troubleshooting to resolve paper jams. It is really only a viable option for businesses that manage small numbers of documents.
Optical Character Recognition (OCR) Technology
OCR is the process of converting an image of printed text into a digital text format. The technology dates back to the first functioning electronic document retrieval system patented in 1927. It has gone through many advancements and is still used today to recognize text in scanned documents and images. Compared to manual digitization processes, OCR is much faster and more affordable. However, it does have some limitations. Most traditional OCR technologies can only extract data if the document image is appropriately aligned, clear, and on a white background. Glares, blurs, and colored backgrounds may diminish the accuracy of the extraction.
Intelligent Document Capture (IDC) Solutions
An IDC solution is software that leverages Machine Learning (ML) and Artificial Intelligence (AI) to capture documents and data, distribute information across the business, and manage the flow of documents and data. IDC software digitizes hard documents and unites the data with information from soft and electronic documents. IDC presents many benefits as the most innovative and advanced digitization solution available on the market. With IDC solutions, businesses can reduce or eliminate the need for human interaction in document processes, enhance the quality of documents, unify processes, and expedite document lifecycles.
Here at FabSoft, we created the Fab-Connect Suite to deliver practical, cost-effective software solutions that intelligently capture and distribute transactional documents across businesses of every size. Since 1992, we have been an industry leader in document capture solutions, helping companies of all sizes greatly reduce their operating costs while maximizing business productivity. Our document capture solutions have evolved over the years to suit the growing needs of any organization. For this reason, there is no printing or scanning challenge too large or too complicated for our document capture software. With over 150,000 successful installations, FabSoft solutions have been implemented into the daily operations of many prominent businesses all over the world.
To learn more about digitizing your documents with our Intelligent Document Capture solution, Book a Demo with us today!