Physical documents have been the means by which our society operated for thousands of years. With the emergence in the past thirty years of computer systems and electronic document filing, the system that worked so well for so long is on its way out. We are in the age of information, and documents are the way that business is fulfilled.
The medium by which we conduct business is not the important part of the equation as the information that is conveyed by both mediums is still the same. Physical documents still serve a great purpose, but the level of efficiency they operate on are not up to industry standards as they used to be. With an increasing number of organizations making the switch to electronic document management, business is operating at a higher level than even before.
Firms that are unable to manage efficient use of both physical and digital documents will be less able to keep up with competitive pressures. Even worse however is the risks that organizations put themselves in by poorly managing their documents, which can lead to facing issues with violations of privacy laws. By putting into place a proper document management system, organizations ensure that they will be able to find, use, and store information in a quick and effective manner.
Businesses in the US spend an estimated $100 billon or more on hardware alone. Document management solutions are one of the few aspects of information processing that can be measured and improved upon. Having a document strategy is vital to the survival of any organization as it monitors, directs, and improves document systems and can determine what the actual value of information and the systems in place used to collect it.
Documents must be viewed as both a physical and digital entity now. Organizations all over are switching to systems that will eventually lead to an almost solely digital system for keeping documents and information. The lines of what is considered a document are blurring, and as technology continues to advance this will continue. Finding a system that works for your organization that implements both physical and digital documents are the means by which business in the future will be built upon. The sooner you find a system that works, the sooner you can be on your way to becoming a more efficient, cost effective organization.