What Can a Digital Mailroom do for your Business?
Documents can really start to pile up in your office if you don’t process them fast enough!
Many businesses are implementing digital mailrooms, effectively eliminating those stacks of paper and filing cabinets while automating their business processes.
A digital mailroom is a system that includes several tools for processing high volumes of documents. Documents captured include paper and electronic forms and can be transmitted through multiple methods including scanners, faxes, emails, FTP and EDI among others.
The purpose of a digital mailroom is to capture documents – of any kind, from any source – interpret and secure the digital data, and verify it for quick and efficient processing with little to no manual intervention. Many organizations who process high volumes of documents with repetitive manual effort can benefit from digital mailrooms. A few example business cases include automated accounts payable/receivables (invoices), medical/insurance claims and loan applications.
Digital mailrooms aim to accelerate document data input and processing while eliminating manual data entry. Implementing digital mailrooms in your business can also help to reduce costs associated with handling and storing documents. Improved management and control results from having real-time access to all your documents through a single interface. For organizations who undergo audits, implementing a digital mailroom streamlines the process and reduces compliance risk for your business.
Using Optimal Character Recognition (OCR) and computer programmed Fingerprints, digital mailrooms scan and process the entire area of documents it receives via email, scan, fax, network folders, Excel upload, mobile capture and e-Invoice. A fingerprint is like a “template” of a document layout that uses XY coordinates to identify zones or areas from which data can be extracted. Fingerprints work with OCR by locating specific XY coordinates and then scanning for character recognition within those coordinates to “pick-up” data from the document. Fingerprints can be added through a process called “Click N Key.” In effect, the digital mailroom is taught where to find information on documents from specific business partners.
By now you are probably curious to find out what a digital mailroom can do for your business.
Simply put: A LOT. But there are some main benefits that include:
The first thing a digital mailroom can do for your business is increase efficiency. Using a digital mailroom to process, verify, and file a business’s documents saves not only time but also money. Most digital mailrooms can process over hundreds of thousands of documents a day. Statistical results from companies that switched to a digital mailroom showed that three hours of paper filing, and processing reduced to 30 minutes of processing using a digital mailroom. In addition, the time efficiency gain reported to reduce printing costs by over $9,000 annually since document access has become available online.
Digital mailrooms also help the organization of a business by storing everything in digital files available at employees’ fingertips. Storing files digitally also provides security for a business in more ways than one. Paper documents are always at risk from floods, fires and other natural disasters, but also from loss and inorganization. Documents that are digitally backed up provide a business with guaranteed copies protected from natural disaster and loss Saving paper with the use of a digital mailroom does not only financially benefit the business but also benefits the environment and ensures data security. According to Data Dash, “to produce one ton of office paper, an estimated 24 trees are required, and the United States is one of the biggest produces of paper in the world.” Being an environmentally friendly business not only saves the business money but appeals to customers in terms of corporate social responsibility.
A digital mailroom can work wonders for your company. Who doesn’t want to maximize efficiencyin an eco-friendly way while securing your data and moving your business forward?
What are you waiting for?
Statistics sourced from Datadash.com