While many companies have transitioned to an electronic document management solution, these eight industries remain paper intensive. This post examines the top industries that still heavily rely on paper processes to conduct day-to-day business and how a document management solution can help!
1. Healthcare – Healthcare remains a paper-intensive industry that is minimally automated and digitized. A document management system can help healthcare by digitizing and centralizing patient information, making it easier for providers to access and share securely. By automating document workflows, healthcare providers can also reduce manual labor and errors, improving efficiency and patient care.
2. Financial – While the financial industry today is largely digital, many institutions are still tied to paperwork. Financial institutions are heavily overseen, and some bodies that require compliance need official signatures. A DMS can provide a secure and efficient way to manage documents to ensure compliance, including electronic signature capabilities.
3. Government – Talk about paper intensive! According to Formstack.com, the US government uses 12.1 TRILLION (that’s trillion with a T) sheets of paper annually. Government agencies continue to rely on paper because they see it as the most reliable and secure option, and many still use legacy systems that involve manual document processing, making them reluctant to transition to digital-based processes. Adopting a document management system will not only reduce the amount of paper used, it will also provide an added layer of security to protect sensitive documents and allow administrators to easily access and manage documents remotely. This can help government agencies move away from paper-intensive processes while still achieving the level of accuracy and security needed for their data.
4. Education – Schools handle a lot of paper on a daily basis – from student transcripts and records to class schedules, enrollment forms, financial aid documents, and other administrative paperwork. Many schools have limited budgets and may think they lack the resources to invest in digital solutions. Today’s document management systems offer an affordable and user-friendly way for schools to transition away from paper and enjoy the benefits of more efficient, secure, and collaborative record-keeping.
5. Retail – From sales receipts and purchase orders to payroll and building management documents, managing all that paper can be a challenge. By digitizing and centralizing these documents, a DMS can provide easy and efficient access, streamline document workflows, reduce manual handling and errors, and provide secure storage and backup.
6. Legal – Legal professionals work with a vast number of documents that require constant revisions and updates as cases progress. Inaccuracies or errors in legal documents can have significant consequences, including lost cases or legal disputes. A DMS provides version control so that all team members or clients are working on the most recent version of a document, providing a clear audit trail of changes made to the document, and identifying who made those changes, eliminating potential errors or miscommunications.
7. Manufacturing – Keeping track of everything from invoices and device manuals to financial records and regulatory compliance can be very paper-intensive. Without proper documentation, manufacturers could be faced with costly mistakes and roadblocks that could impact their bottom line. However, with a DMS, manufacturers can streamline their workflows, ensuring that essential documents are quickly and easily accessible when needed.
8. Insurance – The insurance industry requires extensive documentation for claims processing, risk management, underwriting, and compliance purposes. A DMS can help insurance companies speed up their claims processing and processes by automating tasks such as data entry, document routing, and approval workflows that can help them provide a better customer experience.
Investing in a document management solution is a smart decision for paper-intensive industries. Not only can it reduce reliance on paper, streamline operations, and improve security and compliance, but it can also help these industries save money, increase collaboration and efficiency, and bring their businesses into the digital age.
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Atlantic is an award-winning office technology and IT solutions company providing Imaging Products, IT Support, Document Management, Cybersecurity and Managed Services to small and large companies in the New York City metropolitan area, and the Greater Philadelphia and Delaware Valley.
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