Many organisations are facing high labour time and costs with their manual document processing. As well as the risks of human error when entering manually entered data.
To overcome those challenges, it is important to consider digital transformation strategies for your business model. At OASIS Group, we have seen an increase in demand for automated process solutions in records management because manual document processing can expose your organisation to risks.
Risks of manual document processing
Here is a closer look at the three risks of manual document processing:
Manual data entry can be slow
Manually typing data into a document or system can be tedious, even if the task is familiar and the employee has excellent typing skills. For companies that use large amounts of data for analytics purposes, manual data entry can be a full-time job.
Prone to user error
Error rates for manual data entry are around one percent. This might seem like a small number, but keep in mind that an incorrect figure could cause other mistakes down the line, leading to errors that could have a major effect.
Expensive process in the long run
First, in the long run, companies are paying employees to handle manual tasks that could be automated. Secondly, errors are costly. Even small-scale mistakes can be damaging.
Choosing a partner for your digital transformation strategy
With many organisations heavily reliant on paper records, there is an increase in the number of born- digital records that are uploaded to data management platforms and systems. But not all those platforms are fit for purpose, and they do not offer features such as indexing, cataloguing or retention periods. That is why it is so important that the physical paper records being digitised have a digital transformation strategy in place, otherwise it will be difficult to categorise, find those data and documents and meet compliance and regulatory requirements.
To address these complexities, many organisations are considering outsourcing their records and information management to ensure compliance and regulatory considerations are met. When choosing a partner for Records Management is important to consider the following factors:
Automated data systems for easy access and retention
Through automated data systems you can recreate existing, or implement new, business workflows quickly and easily. From advanced categorisation to robust retention management, seamless search and retrieval, and efficient business processing functionality.
Extract value from your data
Use cloud-based platforms to locate and retrieve rapidly and securely the information you need relating to your physical and digital archives with the ability to create reports, analysis and business projections.
Retention periods in place to hold only the necessary data
Use systems that hold only the necessary data. Where a retention date is recorded, the system provides you with a report with the records that are available for destruction. You can then deal with your records management partner to develop a compliant retention strategy to audit records and identify candidates for destruction.
Add user restrictions and permissions
To prevent unauthorised access and maintain data security it is important to set up roles and permissions for your users. Furthermore, you can keep certain datasets restricted and limit user functions with the roles and entitlements functionality.
Compliance
Ensure compliance and regulatory requirements by maintaining data security, documenting the chain of custody, and complying with retention policies. Use a system that allows you to compare your physical and digital data archives with what has been uploaded or is missing from regulatory archives, externally or internally within your organisation. It is important that all data access is secure, compliant and under regulatory governance.
With this in mind, organisations need records and information management programmes that help extract the value of their data whilst meeting regulations and compliance. If your business is experiencing problems with manual document processing, OASIS can support you in embracing your digital transformation journey. We have solutions for Accounts Payable, HR and Digital mailroom.
Contact us today, and one of our team members will offer a solution to your needs.
About the author
Within my role as Group Marketing Manager I work closely with the Product, Sales and wider Marketing teams to develop and execute a results driven marketing programme across the group countries.
In this role I am responsible for developing, implementing and executing strategic marketing plans in order to attract potential clients and retain existing ones.