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Is Document Automation the Future of all Documents

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Document Automation

Businesses around the world are evolving at an exceptional pace with the help of technology. The use of the automation process is not only “Good to Have” factor but has become an integral part of the business operational process for their survival in the market.

From the management of customers to the management of finance, everything is being performed with the help of technology. Still, one of the big areas which are undoubtedly one of the most important operations for any firm or business is talked very less about. The area is “Document Automation”.

When the question “Is document automation the future of all documents?” arises, there is no way that it can be answered NO for any reason. On the contrary, document automation is not only the future of all the documents but the present of all the documents as well. Let alone the big businesses, firms, and industries, the evolution of document automation can be observed in the day-to-day life of common students getting an education in the different parts of the world.

Most of the colleges and educational institutions have already adopted the trend of electronic notes and assignments for their programs and thus all the documentation between the students and management of the institution takes place in the electronic format only. This example is sufficient to indicate how quickly document automation is taking over the different industries.

Some Document Automation and Management System Facts

We can never question the future of the Electronic Document Management System as nothing is going to eliminate technology in the upcoming time. Will not it be more interesting to prove the statement with help of some real-time data? So, let’s head toward the data and numbers which effectively indicate the future of the Document Management System market.

The document management market system was recorded to have a valuation of around USD 3.09 billion in 2016. The same market is expected to reach a valuation of around USD 6.78 billion by 2023. It efficiently indicates a CAGR of 11.17% in a period of 8 years. Ignoring the CAGR, the data efficiently indicates that the industry will be achieving the valuation twice within a span of 8 years which is undoubtedly significant.

Why Document Automation is Document’s Future

The documents undoubtedly are one of the integral assets for the firm and thus the management of documents is also equally important. With the increasing size of the markets and a big area of operations, it is not possible for the firms to stick to the traditional form of document management.

Time is money:

When a company has to serve their products and services to the customers of different markets and countries, the time is nothing less than money for them. Also, managing the operations at all the different locations is never so easy and thus is not possible without the proper documentation.

For example, without the proper documentation, a firm cannot even open a small store in the market. In the scenario of globalization, a large network of documents is always going to be there for the smooth functioning of the firm in the different markets. This can only be achieved with the help of document automation only where the documents can be shared within moments irrespective of the distance.

Environment sustainability:

Every sector in the world is focusing on making its operational process more environmentally sustainable. But at the same time, documentation is one of the biggest factors within the firms that causes a negative impact on the environment. The use of physical paper negatively impacts the environment from the very beginning to last.

It initiates with cutting a tree, passes through the use of 10 liters of water for manufacturing every sheet of A4 paper, and emits carbon dioxide after burning at the last stage. So, it is going to be the biggest reason for the global shift of physical paper to electronic paper.

Accuracy is the priority:

Accuracy has been and will always be the priority of every organization no matter in which domain or sector they work. Here humans can never be 100% accurate but machines can be. Document automation will make sure that all the documents are in their defined place and are accessible with one click.

The chances of wrong documents being shared and the risk of important data breaching will also be avoided with the help of document automation only.

Long-term maintenance of documents:

The need for long-term storage and maintenance of documents is there and is always going to be there. So document automation is going to be the finest solution to meet this requirement. The documents stored in the digital format will not only be accessible within seconds but will also be safe from any kind of digital damage. There are not going to be the issue of paper damage, paper burned, or loss.

Wrapping Up

The need for electronic document management and document automation cannot be avoided in any circumstances of the present market scenario. So, in the last, it will not be wrong to say that Document Automation is the present, as well as the future of all the documents as the nature of the market, is not going to support the physical document for too long.

PERICENT helps to automate the documentation process for managing records and workflow of  that needs a set of activities to follow through.

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Document Management Help Company to be Audit Ready

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Document Management

How Document Management Helps Organization to be Audit Free

1. Document Security

Sensitive information in form of documents is stored securely. Define user permissions for your staff and control who has access to which documents and how they can use them. Ensure the right documents are accessible by the right people.

2. Consistent Procedures

With business rules and workflow in place, you know that the correct procedures are always followed. Ensure faster approvals and reviews to ensure deadlines are not missed. Handle document processing consistently by creating a separate workflow with the routing of documents. Using Electronic Workflow increases efficiency and accuracy.

3. Flexible Workflows

React to changes in policies and compliance regulations quickly by updating the workflow. Once a workflow is in place, you can alter the process easily, often without having to re-train staff, making continuous process improvement a straightforward procedure. You can update procedures across the whole business simultaneously.

4. Managing the Document Life Cycle

When a document is stored in a Document Management system, you can be confident that you are always working with the latest version, but version control allows you to access all previous versions if necessary. If selected documents must be stored for a specific length of time (in line with compliance regulations), rules can be set to automatically move documents to archive, or delete them when they have expired.

5. Audit Trail

An audit trail is a report showing who has accessed what document, when, and how it was used. You can verify that the latest version of a document is archived, and track system admin changes. Audit trails supply detailed information for auditors, providing visibility into your processes and helping to prove compliance.

6. Easing the Audit Process

Allow auditors to have secure access to your documents via a standard web browser. Inspections can be conducted remotely with no disruption to you and your colleagues. With the powerful keyword search functions of a Document Management system, documents needed for audits are available in seconds. During the inspection, auditors can simply export any information they need in a digital format, saving everyone time and money.

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Apply V-B6 to Your Business Nerves (Process)

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business process blog

As V B6 is useful for the nervous system of the human body, in the same way Mediation of the business process system improves operations in business.

Here, many companies are claiming to have a strong digital interface for their customer, marketing, and sales operations. They solved the specific problem they encountered, however what about handling problems not yet arrived. Moreover, these companies are not having truly implemented internal operational strength as internal processes are manual and in control of human nature.

That means a strong person makes them good going and at the same time a weak performer can make them less performing processes. Trust me, there needs to be really a mediated implementation of process management to strengthen all external situations like market change, policy changes, the multi-culture multi-geography extension of business, working under multiple government policies due to global business presence.

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“Digital Inside”, mostly not yet done or just done partially!

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Digital Inside

I have witnessed that many bigger organizations yet not have a real Digital Inside that is because of end-to-end automation and integrated business processes. Most of IT implementations are rather a record management system. A lot of initiative has been taken by the leadership of the organization, however, it doesn’t catch up in-depth top to down integrated implementation of processes. Sometimes, it is more like marketing of implementation is done on branded products rather focus on understanding the real value of investment done by the organization.  Even, many times follow what others are doing, let go the same way without having thoughtful analysis in the context of your business like these days hype of RPA, AI, ML, BigData, etc.

Without adopting business process automation and management methodology and system, how can a bigger organization guarantee a good experience to all its stakeholders?  In one the report of Mc Kinency that only 37% of processes have been automated, I believe, it is even much lesser in reality.

Even, I have personally observed so many times, that an important vendor or customer-related processes become inefficient because of human inefficiency, depends on human efficiency allocated to take the process forward. Here, what if rather processes become self-sufficient to drive expected performance irrespective of particular human efficiency not ERP way rather BPM way.  Most of the processes should be auto-initiated based on event or time schedule.

Most of the organizations have taken their IT initiatives, which finally end up with the same silos implementation around the monolithic ERP system. seems to be only full proof technology, doesn’t need much of innovation, risk, etc.

However, according to one of Google’s recent reports, ERP covers only 20% of processes in the medium to large organizations. How about the majority of unorganized or unstructured processes, which are 80% of total operations. This 80 % of operations are driven by email and excel-sheet, which are completely under the blessing of humans, which is variable in nature.

These emails and excel sheets are a few major tools actually to drive most of the business operations including internal and external almost everywhere in the world. Ultimately, these emails copy or excel-sheets become well-printed copy to present to concern person manually.  You might agree with me that such email and excel are quite easy, unstructured, loosely coupled and passive tools to drive your businesses.

Now, questions are about how we get real value, how we can make things better and let digital technology to drive your operations more efficiently.

Here, I strongly suggest maximizing the use of a business process management approach and platform to establish a digital nerve system in your organization. And, ensure every end is connected to enable correlation, hence Digital IQ in the organization.

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