Digitization for SMEs: Where to Start
When it comes to digitization, start-ups have a clear advantage in that they can go digital from day one. Established businesses have to take a more evolutionary approach, generally starting with pilot schemes and departmental implementations. Evidence suggests that businesses are missing out on the benefits of digitization due to a lack of strategic direction from senior management. This results in piecemeal and ad hoc digitization projects that are initiated when a process comes up for review rather than being driven by a vision for the enterprise.
In the Neopost Mailing Survey Questionnaire 2014, almost two thirds (62%) of respondents said that the substitution of postal communications with digital alternatives, such as email and social media, was happening in an unplanned manner. Where you choose to start will depend to a great extent on whether the motivation for your digitization project is to reduce risk (compliance-driven), to save money (cost-driven) or to improve efficiency (opportunity-driven). Some of the most popular projects include:
The scanning of paper archives to improve access to information and free-up space occupied by filing cabinets. Generally this involves digitization of existing archives and 'day forward' scanning of all new records.
Moving to e-Invoicing
Sending, receiving and processing invoices electronically saves time and money. A Billentis report commissioned by Ricoh claims that making the switch to e-invoicing could save European businesses over €250 billion and the public sector over €40 billion. Currently, just one in five invoices is electronic, but the tide is turning. In The Future of Multi-channel Transactional Communications, Infotrends predicts that by 2017, 35% of bills and statements delivered to US consumers will be paperless.
Defining Processes for Document Management
Any other defined process that involves the pulling together of varied material from smartphones, PCs and scanners, from loan applications to employee on-boarding, can be speeded up through digitization. The most sophisticated solutions will monitor what documents have been received and flag up any that are missing.
Digitizing Customer Communications
The digitization of customer interactions through SMS, web chat and social media can strengthen customer relationships and save money. A study by SOCITM found that customer interactions in local government cost approximately €10 for face-to-face communication, around €3 for contact over the phone and about 19 cents for a web transaction.
Digitally Capturing Data
Any process that involves the gathering of data in the field, such as insurance claims or machine servicing, can be improved dramatically through digitization. Capturing data digitally on a digital dictation recorder, e-pen, smartphone, tablet or portable scanner and routing it electronically to head office enables information to be processed instantly and eliminates unnecessary travel.
Developing a Digital mailroom
Capturing information as it enters an organization, by integrating scanning with mail opening on premise or in an external bureau and routing mail to recipients is another popular application that impacts every department within an organization. In The Paper-Free Process Revolution Handbook (2012), the Association of Information and Image Management (AIIM) claims that capturing data electronically at the start of a business process can deliver a 30-50% gain in process productivity and a three to 10-fold reduction in turnaround response times.
When Digital Invoicing Legislation Becomes a Source of Competitive Advantage
The popularity of electronic invoicing (e-invoicing) has increased massively over the past few years, with governments across the globe introducing new initiatives that enable businesses to take full advantage of this digital format. In fact, in some countries – including Brazil and Mexico – public sector...
Still Handling Paper Receipts? Go Digital to Save Time and Cost
The problem with receipts extends beyond paper clutter and potentially lost records. Small businesses that find a better, more up-to-date way of managing expense receipts stand to save time and money. When receipts are saved digitally and stored in a searchable format, it’s easy to find and sort information...