Whether or not businesses are ready for it, the age of the paperless office is fast approaching, according to CNET. A letter by Chris Whitmore, a Deutsche bank analyst declared the "demise of the dead tree format" as a steady process, and noted that the rise of document imaging and improved information management is ahead.
According to the news source, printer companies are showing declining profits, with a 6 percent year-over-year drop in revenue in the second quarter. Additionally, paper sales are down 6 percent, with demand peaking in 2006 and steadily dropping every year since. This is attributed to the lower of cost of tablets and smartphones, and the ease of use of these devices.
"Simply put, the content that was once printed for distribution or portability is now simply being distributed or shared electronically," Whitmore stated, according to the news source.
This is excellent news for many companies. The migration to digital document management helps businesses streamline workflow and assist professionals in being more productive. It also reduces operational costs for most companies and helps improve environmental efforts as well.
However, some organizations may need assistance when switching to paperless operations. Federal compliance demands that businesses keep financial and other records on hand for a length of time, and having all that paperwork laying around may seem counterintuitive to these initiatives.
In order to remain in compliance and still push forward with paperless strategies, a company can invest in document conversion services that take over the process. By deploying conversion service, a business can migrate all of its records to the digital format, making organization, storage and compliance easier overall.
Brought to you by Image One Corporation, providing government and industry compliance solutions since 1994.