In the U.S. alone, there
are over 4 trillion paper documents – growing at a rate
of 22% per year, and many businesses are seriously looking
at the benefits of document imaging software.
Document imaging software is designed to streamline
the document and data capture processes of paper intensive
organizations. It answers information management
challenges by digitizing paper documents, eliminating redundant
paper copies and unnecessary electronic files. Document imaging
software significantly reduces misplaced documents, and decreases
document retrieval time.
Coopers & Lybrand report:
- Roughly 90% of all corporate memory resides on paper
- Of all the pages handled daily in a typical office, 90%
are simply jumbled
- An average of 19 photocopies are made in the life of
any one document
- Companies spend $20 in labor for each paper document
filed
- About $120 is spent on searching for each misfiled or
misplaced paper document
- On average, roughly $220 is spent on labor to reproduce
a missing document
- Roughly 7.5% of all corporate documents get lost; another
3% get misplaced or misfiled
- Professionals spend about 5 – 15% of their time
reading information, and up to 50% of their time searching
for it.
Ernst & Young reports that document imaging software can:
- Potentially triple the document processing capacity
- Reduce staff and time resources by 50%
- Grant immediate access to data critical for decision
making
- Reduce the space required for document storage by 80%
- Provide secure document management that is fail-safe
Document imaging software efficiently captures
data received from TargetFax, e-mail file transfer or computer
network transmission. The data types captured by document
imaging software are word processing documents, forms, invoices,
electronic files, legal documents, medical records etc. Document
imaging software then indexes this information through the
use of optical character recognition (OCR), intelligent character
recognition (ICR), bar code recognition and forms recognition,
to convert the document into usable business information.
Document imaging software allows organizations
to share critical business information among employees, business
partners, and customers, internally over a secure LAN, or
externally over a WAN, VPN or the Internet.
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