Companies are dealing with the curveballs that 2020 threw at all of us by adapting their business processes to reflect the new normal. One of the biggest adjustments for document-based companies is figuring out how to process paper in a timely manner under a new remote work environment—client needs shifted during the pandemic.
What’s a company to do when the old way of doing business—given its inefficiencies, inaccuracies, and lack of security—is no longer an option?
In recent years, and this year especially, it’s become clearer and clearer that embracing technology and taking the manual burden out of business processes is now essential to effectively run a business.
Moving Away From the Old Method
A legacy technology is exactly that—older technology still used in day-to-day operations. It stands to reason that, no matter how efficient that legacy technology was in its day, it is no longer the most efficient way to process business documents. New technologies are born every day. At some point the decision must be made to upgrade.
Robotic Process Automation (RPA) is the tool of choice for many businesses who upgraded in the past few years. RPA automates highly repetitive tasks and does the job well—provided the tasks are well-defined and the processes aren’t too complex. RPA automates, but, at the end of the day, RPA isn’t the best technology to handle complex data tasks.
RPA works best when supplemented with more intelligent technology that can intuitively handle data from unstructured sources. Why is this necessary? According to Analytics Insight, by the year 2025, 80% of global data will be unstructured. That means in just 5 years, 80% of data will come from sources such as text files, images, video files, and emails—too complex for RPA alone.
Creating a System for Today’s World
The effect of the COVID-19 pandemic on the global economy cannot be overstated. As businesses pivot from response to recovery, they look to invest in technology that reduces costs long term.
As companies digitize operations, it’s important to revisit the overarching technology strategy to determine if it still fits the company after growth. Chances are that the needs of the company and the desires of the customer have changed greatly since the strategy was first designed.
If the overall strategy isn’t considered, what ends up happening is that minor tactical changes are implemented here and there, from department to department. Different technology tools are adapted and woven together to meet the changing needs of the company in a piecemeal fashion. A cobbled-together solution can work for a time but, at some point, efficiency suffers as independent measures don’t talk well with each other. That’s when companies should focus on reassessing what they currently have (that works), where they want to go, and what solution they will need to evolve in a productive and cost-effective way.
To identify where to invest when it comes to building an intuitive document management system, assess these three things:
Review Business Processes
Examine the workflows that keep your organization running and identify areas to optimize or restructure for improved efficiency. Next, examine data throughout your organization. How does it enter your organization? Where does it go? Which systems rely on what types of data? And finally, how does that data drive revenue opportunities or impact the customer experience?
Make Machine Learning a Priority
Machine learning (ML) is a form of artificial intelligence that gives systems the ability to automatically learn and improve from experience without explicit programming. This means that your company’s document management system can continue to learn and improve from the data it receives. In the ever-changing landscape of business, machine learning has become an integral part of company strategy.
Don’t Forget the Need for People
While most computer-related things can be automated, we aren’t yet living in a world where everything can be. Human thought and insight is still essential. While more intelligent technology develops with each passing year, people power today’s workflows even if their role evolves into a supervisory one. While software continues to provide accurate and reliable information, human intelligence rules the decision making process in any business.
As companies figure out how they will tackle 2021, many look to implement a content management system that will best amplify company-wide operations. At DRS Imaging, we have the most flexible digital transformation solution for the specific needs of your business.
Since 1964, DRS has reliably partnered with companies to successfully manage their information. Now more than ever, DRS Imaging’s experience is an invaluable document management tool. Contact one of our professionals today to discuss how we move your business forward with adaptive technology that grows with your strategy every step of the way.