In today’s complex world, maintaining only paper documents can pose both damage and security risks. Transitioning to digital documents is a good way to mitigate these risks in addition to be being easily sharable and accessible.
Here are four reasons to make the transition from paper to a digital document management system.
- Paper is Not Easily Trackable – When it comes to certain industries such as financial, legal, insurance or healthcare, compliance to federal and state regulation is critical. Not being able to track a document can bring major penalties. Digital documents reduce issues like misfiling, or loss and the challenges of manual data management by storing documents in an easily searchable database.
- Easier Compliance and Audit Functions – Digitized documents can be tracked along with the processes surrounding their creation. That means more accurate records. You can accurately track who’s accessed files, what edits have been done, when they were printed, edited or downloaded.
- Controlled Access –Unsecured paper documents can be accessed by an unauthorized person without your knowledge. If those documents are medical records, for example, you may be in violation of HIPAA regulations and subject to penalties. Digital documents can be protected with controlled access and can be tracked with an audit trail.
- Data Backup – In the event of a fire, flood or other natural disaster, paper documents can be lost forever. Studies have shown that only 6% of businesses that suffer a catastrophic loss of data without a recovery plan survive longer than 2 years after the event. A digital solution with secure cloud storage can keep all of your data safe and secure even if your computer systems are damaged by an event.