3 Ways Document Management Keeps Your Information Secure from a Data Breach
Articles in Category: Business Process Improvement
An important quality of a successful business is having good business processes. The information and advice in these blog posts is intended to help businesses learn how to improve their processes to become more efficient and, ultimately, more successful.
CEOs and executives are increasingly leading digital change initiatives in organizations
Digital transformation in organizations doesn’t happen by osmosis—someone has to take the lead and steer the company toward digital change. The AIIM Industry Watch report “2017 State of Information Management” takes a look at who is actually driving digital change in the workplace.
The most obvious answer is IT professionals. After all, technology is their trade. And while 39% of the businesses surveyed by AIIM said that IT leaders are the ones pushing digital transformation in their companies, 31% of respondents actually said corporate executives are the drivers of digital change in their organizations.
According to Gartner’s 2016 CEO and Senior Business Executive Survey, many CEOs have expressed an understanding that digital business is substantial enough that they need to personally lead digital initiatives in their organizations. In fact, in recent years, there has been a significant rise in CEOs taking the reins on digital transformation.
We have also seen an important shift in perspective regarding digital change in the workplace. According to Gartner’s survey, CEOs view digitalization as a positive change in their businesses, not a destructive one. A majority of CEOs also associate digital change with higher profit margins.
In our digital age, it is no longer profitable to resist digital change. Forward-thinking leaders have recognized this, and they are personally taking charge of the digital transformations occurring in their organizations.
In honor of Small Business Week, learn why PSIGEN is the best solution for your small business’s document capture needs
There are 1,074,459 small business with 10-100 employees in the U.S. Yes, that’s more than 1 million. Small businesses make up a huge segment of the marketplace—and tech companies would be remiss if they failed to consider these businesses when creating their products. Nevertheless, some document capture systems simply do not cater well to the needs of small businesses. Many of these companies focus on full-fledged, large document management solutions for large corporations. While it is of course important to be able to service these types of companies, small businesses need advanced capture just as much as—if not more than—large corporations do.
This is where PSIGEN’s scalable framework becomes a huge asset. We do service many large enterprises with complex capture needs. However, we also provide flexible, affordable capture and automation solutions for small businesses.
Here are 3 reasons to choose PSIGEN for your small business:
Investing in a document management solution is not merely a matter of researching options and purchasing a system. While these are the first steps, the follow-through once your organization adopts a document management project is where the real challenges arise. Sometimes, despite the effort you went through to implement content management in your company, the project fails.
Why do document management projects fail? On the surface, it would seem like a program that offers solutions to business problems and reduces manual work for staff would be a slam dunk. However, there are numerous reasons why these projects fail.
Here are 4 reasons document management projects fail and how you can ensure yours succeeds:
PSIcapture & SAFE help users make the most of their SharePoint investments
More than 85 million people actively use Office 365, and Microsoft reports that number will surpass 100 million early this year. Furthermore, more than 200,000 organizations use SharePoint. The popularity of these Microsoft enterprise platforms spans across industries and departments, and it’s easy to see why: they allow for highly customizable content and communication management to meet the needs of virtually any type of organization.
As vital as SharePoint is to many businesses, it isn’t an out-of-the-box program. SharePoint sites must be built and maintained, which can be time-consuming and inefficient for many businesses. That’s where PSIGEN can significantly increase the efficacy of SharePoint and Office 365.
Here are 3 ways to use PSIGEN to complement your SharePoint or Office 365 project:
Build your SharePoint or Office 365 project with PSIGEN’s advanced capture and workflow options: Whether you’re starting your content management project from scratch or are working to improve what you already have, PSIGEN can help. Our products can seamlessly integrate with SharePoint and Office 365. Capture documents, automatically populate metadata fields, and create file-naming schemes and folder structures. PSIcapture’s automation features, including database lookup, the Accelerated Classification Engine (ACE) and Table Extraction, make these processes essentially painless.
Organize your digital landfill: Has SharePoint become a virtual dumping ground for your business’s documents? You’re not alone. A study by the Association for Information and Image Management (AIIM) showed 27% of respondents had a stalled SharePoint project. Another 37% said their SharePoint project failed to meet their original expectations. SharePoint is a fantastic tool for managing content, but it generally can’t be treated as a standalone application. Unless you want to allocate several employees to manually inputting data and maintaining the site, a document capture program is necessary to easily make files searchable and to create organization within SharePoint.
Let SAFE take over where SharePoint ends: Save money by utilizing PSIGEN’s content management platform SAFE for files you don’t readily need in SharePoint or Office 365. Since you’re paying for storage within your SharePoint site, SAFE can be used to complement SharePoint. For instance, if you’re using SharePoint for your Human Resources department, you might have all your employee records organized within your site. But what about employees who leave the company? Your industry may require you to keep these records on file, but why continue to pay premium for the space? You can easily transfer these files to SAFE. This way, you can retain the files in case you ever need them, but they don’t have to take up valuable storage space in your SharePoint site.
Take advantage of a significant tax reduction for 2016 when you purchase PSIcapture
If you’ve done any poking around our website, you know that PSIGEN’s advanced document capture solution helps boost an organization’s efficiency. By reducing the time and effort involved in importing information and documents into your document management system, your business saves valuable time, money and resources, and your staff is able to focus on tasks that are more important than scanning and entering data.
That’s a lot of wins. But this time of year, a PSIcapture advanced capture system provides another benefit that serves as icing on the cost-benefit cake: a tax break. Investing in PSIcapture before the end of the year can reduce the taxed amount of your organization. According to the IRS website, “You can elect to recover all or part of the cost of certain qualifying property, up to a limit, by deducting it in the year you place the property in service.”
Software provided by PSIGEN Software, Inc. qualifies as “property” that your business can deduct as part of your 2016 expenses. This means you can invest in a system that reduces your employees’ time for data entry, increases the use of your document management system and secures your business a tax recovery.
The CEO and CFO of every organization are always looking to increase profitability, decrease liabilities and mitigate risk. By deploying an advanced capture solution like PSIcapture, you can harness the data buried within your documents. Doing so will allow your staff to make better decisions, provide improved customer service, manage the company’s assets more efficiently and leverage the best terms from their vendors (such as taking advantage of prompt pay discounts)—all while helping your organization reduce its taxable amount, if you act quickly.
To learn more about the tax benefit of Section 179, you should contact your company’s tax expert. To learn more about advanced capture, get in touch with the industry experts at PSIGEN today.
A PSIGEN solution facilitates company growth, improved customer service and a stellar workforce
It’s no secret that companies are increasingly moving toward digitalization. Up until recently, technological advancements in the workplace were mainly a concern for the IT department. Now business leaders are becoming more involved with digital initiatives, as it becomes clear that these projects directly impact the success and growth of the company.
Gartner’s 2016 CEO Survey looked at the top strategic business priorities of 400 senior business leaders, including CEOs and CFOs of many large organizations generating $1 billion in annual revenue. The study showed that technology and digitalization has become a top priority for the leaders of many organizations. In fact, 84% of those surveyed said they expect digital change will increase profits. When it comes to strategic business priorities, 54% of CEOs listed growth as their primary goal. Customer experience came in second place, with 31% of respondents citing it as their No. 1 business priority for the next two years. This number is up from 21% just one year ago. In third place is improvement of the workforce at 27%.
Looking at these numbers, it's clear that CEOs are seeing the connection between digitalization and company success. So how can they take the first step in the right direction?
Investing in advanced document capture is the perfect way to start the transition to digitalization. PSIcapture can help companies accomplish all of these top 3 strategic business priorities. How? Glad you asked!
Advanced capture is an essential tool for the legal industry
If you work in a law firm or legal department, you know there’s no shortage of documents accompanying each and every case you take on. If your company is overwhelmed with physical files and you’re tired of dealing with inefficient paper processes, advanced capture is the solution you’ve been waiting for.
PSIcapture provides several advantages for law firms and legal departments. One obvious benefit is the reduction of physical documents and files that need to be stored and managed. PSIcapture can help eliminate the cost of document storage, so you can free up office space and stop paying costly offsite storage fees. But that’s just the beginning of the true benefits of PSIcapture for the legal industry. Other advantages include:
Confidential data is kept secure and compliance with regulatory agencies is maintained
Converting files to searchable PDFs makes finding documents a breeze
Integration with your existing infrastructure allows for a painless transition to paper-free processes
Automatic classification and indexing speeds up document processing
Here are 3 PSIcapture features your law firm will love:
Document redaction: Legal documents often contain sensitive client information that needs to be protected. If you work in the legal industry, you are likely well acquainted with redaction. PSIcapture’s auto redaction feature makes the task of redacting information a breeze. PSIcapture’s advanced pattern matching technology can quickly parse documents for the data and automatically redact it, drastically reducing the time it takes to process documents.
Integration with Case Management Systems: If your tech-savvy firm already employs a case management system or document management system, you don’t have to worry about moving those documents when you implement PSIcapture. Our advanced capture software integrates with more than 60 different systems, including several commonly used case management systems, like Concordance and Worldox.
Automated Bates stamping: Stop wasting time with manual Bates stamping! In addition to taking up valuable time, the process is vulnerable to human error, which can lead to more setbacks. PSIcapture can perform automatic Bates stamping, providing an easy and accurate way to organize multipage documents.
Take control of your paper problem with advanced capture! Talk to an expert today to learn about your next steps toward pain-free document processing.
Why SharePoint isn’t working for you and how can you change that?
According to a study by the Association for Information and Image Management (AIIM), 26% of businesses surveyed said their SharePoint project was stalled and 37% reported their SharePoint project has not met their original expectations. If your business has invested in SharePoint and has had these issues, don't give up. There are plenty of things you can do to get back on track with your project to make it work for your company.
Here are 5 steps to take to ensure a smooth SharePoint project deployment:
Because you're reading this, by now you've probably heard a bit about how document capture can help organizations become more efficient and improve their document processes. But how do you know if an advanced capture system will benefit your organization? After all, every business is different, and what works for one might not necessarily be helpful for the next.
Don't worry, we've got you covered. Here are 5 signs that your business would benefit from an advanced capture system:
5 Ways PSIcapture Sets Your Business Apart from the Competition
Unfortunately, the 2016 Summer Olympics in Rio has come to an end. For two weeks we watched transfixed as the world's most incredible athletes competed for the prestige of being the fastest, strongest or most powerful forces in their sports. There is something universally riveting about seeing the culmination of these athletes' training manifest in the most intense competition of their lives.
When it comes time to compete, years of training come down to seconds on the clock. The differences between first, second and third place might seem like a small margin on game day, but a closer look at the training habits of the athletes is likely to reveal some more significant differences.
You've Got Your Advanced Capture System - Now What?
Congrats, you did it—you finally got approval to solve your document process problems with advanced capture! While that's surely an important step in the right direction, it's not enough to just purchase the software. The essential next step is to garner user adoption among your team members to ensure a successful implementation of your PSIcapture project.
Here are 5 ways to encourage user adoption of your advanced capture system:
BPO companies can gain efficiency and profitability with PSIcapture
Business Process Outsourcing (BPO) is a growing industry in the document management space. When companies decide to convert their paper records and processes to digital format, outsourcing is often a viable option that allows them to have all the benefits of digital document management without the burden of taking on the task themselves. Outsourcing also allows an organization to turn the work over to a company with significant expertise in document management.
If you run a document management BPO organization, also known as a Document Service Bureau, you know how complex these jobs can be. Every industry has its own form and document types, not to mention regulations and compliance procedures that must be upheld. Within these industries, individual companies also have their own document types and goals for their document management projects. Taking on new clients and projects as a BPO company can be a daunting task.
Fortunately, PSIcapture was created with this very industry in mind. Here are 3 examples of how BPO organizations have used PSIcapture to help meet the needs of their customers:
Now that staff is freed from manual processes, how can they better serve your organization?
So you've automated the accounting department, and your processes have become more streamlined and no longer require hours of manual work to complete. A question that might arise is: what do you do with your accounting staff now?
There are several areas you might consider branching out to with your accounting staff now that they are freed from completing hours of manual data entry and paper-based processes. Here are 4 ideas:
Remove Your Customers’ Personal Information from Documents with PSIcapture’s Automatic Redaction Function
Document redaction—the safe removal of sensitive information from documents—is a crucial element of the advanced capture process for many organizations. Documents containing personally identifiable information like social security numbers or credit card and bank account information often require redaction before they can be stored in a company repository or distributed outside of the organization.
For most companies, manually redacting information from documents would be a costly and time-consuming process. Manual redaction is also a security concern; depending on the method used, a hacker might be able to uncover the sensitive data hidden on a digital document, compromising the security of that information. If your organization is a government agency, law firm, financial institution, or any type of company that deals with sensitive personal information, PSIcapture's redaction capabilities can help you secure that information quickly and efficiently.
Here are 5 advantages of using PSIcapture to auto-redact sensitive data from documents:
ACE boosts efficiency through simplified invoice processing
Processing invoices is a pain point in many organizations. According to a survey included in an AIIM report, when asked about the biggest barrier to success in improving Accounts Payable operations, most respondents cited an over reliance on people and paper-based processes.
PSIcapture's Classification feature not only automates invoice processing, but also simplifies the configuration of new vendor invoices. By using the Accelerated Classification Engine (ACE) for invoice processing, you can eliminate paper-based processes more quickly and efficiently than ever before.