Business owners love to work smart, so it’s no wonder that intelligent document processing is one of the top trends forecasted for 2023.
Manufacturing facilities bring to mind images of conveyors rolling, machines running, and operations moving along like a finely tuned machine.
Every business, no matter how large or small, typically handles myriad documents in the course of the day. Invoices, hiring paperwork, receipts, and customer information all must be handled correctly for promote both high productivity and data safety. Specifically, managing documents is a crucial task that is best accomplished when information can be digitized for easier and safer access. Benefits of using a document management solution that relies on digital documents include:
Regardless of the type of business you run, keeping control of necessary information is the key to business success. For small businesses, this can be even more critical as many do not have the time or resources to waste searching for lost or misfiled data. What’s even worse is that data breaches have caused 58% of small businesses to lose time and/or money, with many paying hundreds of thousands of dollars to recover lost data.
The ongoing pandemic has brought with it widespread disruption. Companies are adjusting to a “new normal” that consists not only of remote or hybrid work environments, but an increase in digitization. Alongside this evolution of a more digital presence for businesses and organizations comes the inherent threat of cyberattack. As more information is transformed into digital form, data miners and hackers are using increasingly sophisticated techniques to access it.
Globally, paper production has been on a downward trend since 2017, even with the world population continuing to rise. Why then would paper prices be on the rise?
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Modern businesses handle extraordinary amounts of information in a typical workday. Invoices, budgets, accounting policies, security policies, contracts, human resources documents, and more all must be processed on a regular basis. While manual entry is still one of the most common ways to process this data, it is a technique that is labor intensive, slow, and fraught with errors.
Data is an indispensable resource for retailers. Today, most retail businesses understand that they must capitalize on digital data, but fewer know how to make the most of it. If your retail company hopes to reach its full potential, you must improve your data management.
So much time in business can be lost by searching for documents and files that are misplaced or not easily accessible. If you are managing a team, whether large or small, you probably don’t want your workers wasting time fussing with file mismanagement.
In 2022 and beyond, hybrid work is becoming more and more the norm. During the beginnings of the COVID-19 pandemic, many businesses struggled to transition from in-office employees to remote staff. While there are drawbacks to a remote team, employees found it nice to be able to work at least partially from home, avoiding the stress of long commutes. Still, working in person has its benefits, including the ability to connect better with other team members and collaborate more effectively.