COVID-19 forced employees to work remotely. But without staff to process incoming mail, those remote workers can’t do their jobs. And with more than half of B2B payments still made by paper checks, there’s no one to make deposits to keep cash flowing. So how do you overcome this challenge? The solution is simple: outsource your mailroom and make it digital. DRS routes your mail and runs it through automation software that sorts, batches, scans, extracts, and tracks your information. DRS scans checks for deposit, electronically encodes them, and submits them for deposit. A digital mailroom makes sense right now, and it makes sense for the future since millennials, who are driving the need for remote working, will make up 75% of the workforce by 2028. Out-think, out-source, and out-perform with the DRS Digital Mailroom and Digital Check Deposit services. Get incoming mail and checks where they need to go.
Companies have been going paperless for more than 30 years.
The switch to digitized documents was slow off the start because server demand was high. In the last five years, however, improvements to big data, cloud storage, mobility, and analytics put digital transformation within reach for businesses of all sizes.
Advancements in paper-to-digital technology make it easier than ever to get on board with digitization. Growing compliance requirements are also putting pressure on businesses to convert slow paper-intensive processes into a streamlined, shareable, searchable, secure digital workflow. That’s why US businesses spend over $500 billion a year converting paper documents to digital format. Since 1964, DRS Imaging Services has been exclusively focused on helping companies manage their information to keep daily operations running smoothly.
What happens when half the country can't process payments?
In an age of one-click secure digital payments and etransfers, more than half of B2B payments are still made by paper checks. So what happens when half the country can't process those payments because a pandemic shut down the mailroom and paper checks are bottlenecked on the mailroom floor?
In the coming months, businesses are going to become more reliant than ever on their digital strategy. Without wanting to sound too alarmist, in many cases, it will be the deciding factor in whether they make it through the tough times ahead.
Running at the speed of paper is no longer an option. Especially when your team now works remotely. Employees need access to the information coming into the mailroom right away. Accounts Receivable (AR) needs a way to deposit checks immediately to keep cash flowing. The solution is straightforward: make your mailroom digital.
DRS Digital Mailroom & Digital Check Deposit rescues your workflow when your employees work from home
Companies already using a combination of digital document management and virtual teams are carrying on as usual. But the rest of the corporate world wasn’t prepared for COVID-19 and the sudden closure of offices. Mail is piling up. Checks are coming in but there’s no one there to oversee the payment process.
Make the choice to outsource your mailroom. This quick and imperative change to operations will prove to have some upsides. Companies that choose DRS Digital Mailroom and Digital Check Deposit will realize the returns that come from digital transformation.
It starts by routing your mail to DRS.
Our automation software then sorts, batches, scans, extracts, and tracks your information, feeding it into your critical business processes so your employees can access it from wherever they are to do their jobs.
When incoming mail is a check payment, we scan checks for remote check deposit and electronically encode your checks for processing by your specified financial institution.
Checks are scanned for critical information such as check number, account number, and routing number. Checks are deposited and routed according to your needs, alerting users of items that need to be completed.
The benefits of end-to-end digital mailroom automation are many:
- intelligent OCR scanning and classification
- instant document retrieval
- data tracking
- improved customer service
- searchable text
- accurate information and fast approvals
- eliminate human error
- shareable files
- minimized storage requirements
- check scanning for electronic deposit
Based on research by AIIM, the biggest benefits of a digital mailroom are faster turnaround times, improved mail productivity, improved data capture quality for downstream processes, and improved searchability and shareability. 80% of those surveyed agreed that paper content and processes are a huge impediment to remote access.
What happens when the pandemic is over?
Virtual teams have been on the rise for several years. Managers realize that increased productivity happens with flexible work hours and time saved that was typically wasted commuting. A recent survey by Deloitte also found that millennials are more likely to stay in a role for more than five years if they are empowered to determine when and where they complete their work. This is something that can’t be ignored since millennials are expected to make up 75% of the workforce by 2028.
[One] unexpected outcome of COVID-19 is that companies realize the benefits of fast-tracking digital transformation.
Companies can see direct benefits from transitioning to virtual teams. Hiring remote employees means drawing talent from other states, or even other countries, and the overhead costs associated with physical office space goes away. Outsourcing is a game changer for small, medium, and large businesses searching for ways to stay in the game, reduce costs, and mitigate risks.
When you shift to a digital mailroom and digital check deposit as a short-term manoeuvre, you benefit from efficiency and cost-savings during a time of crisis. But once things go “back to normal,” the benefits of going digital will have proven themselves out and your company will continue to benefit from the digital mailroom’s long-term value.
It’s time to re-focus your workforce and leave the heavy lifting to DRS.
We have successfully completed and digitally transformed more than 40,000 projects. In the past five years, we have converted over seven hundred fifty million paper records to electronic format. We’re the right team to help you overcome your digital transformation challenges in this new age. We’re here to help you keep your business running and take the headache away. We believe that receiving information is only the beginning. Digitally transforming information into business applications is where the rubber meets the road. So stop pushing paper and start accelerating your business.
Out-think, out-source, and out-perform with the DRS Digital Mailroom and Digital Check Deposit services.