The AIIM Blog
Keep your finger on the pulse of Intelligent Information Management with industry news, trends, and best practices.
Capture and Imaging | Document Management
"Should I buy or rent OCR capabilities?" This is a common question businesses ask themselves when they're starting to get serious about their capture strategy. If you're wondering if you should purchase a document management application for your data extraction and forms processing or outsource the job to a service bureau, the answer is a dissatisfying "Well, it depends." Answering this question should include making a solid business case that includes a cost-benefit analysis using a formula like Net Present Value (NPV) or Internal Rate of Return (IRR) to determine the return on investment. However, the answer usually comes down to the company's philosophy of building versus renting. The renting companies believe in focusing on their core competency and reducing costs while outsourcing anything that falls outside core functions. The building companies are often more focused on maintaining control. The following should be considered in terms of answering the in-house vs. outsourcing question for your organization. Here are eight things you should consider when deciding to buy or rent OCR capabilities:
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Throughout history, the managing of documents has brought the human race as much joy as utter frustration. Though no one person can be credited for inventing document management, the first known system was created by nomadic tribes writing on the walls of caves. Over time, this evolved to the scrolls system employed by ancient Rome, and as the world neared the end of the 1800s, the human race still relied on a very primitive form of document management. But over the next century, eight things happened that changed the history of document management forever.
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Making an ECM implementation successful requires planning and attention to detail. The best way to create the right solution is to identify organizational goals and priorities. Learn how to manage a successful implementation in our free guide.
Capture and Imaging | Document Management | Enterprise Content Management (ECM)
Remember when placing the blue recycling bin next to the copier and encouraging employees to duplex their print jobs made you feel like you were doing your part to help the environment? The sustainability expectations set for corporations today have never been higher, and many are realizing that the benefits of going green with Enterprise Content Management (ECM) extend beyond being viewed as a good corporate citizen to significant cost savings and increased worker productivity.
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Capture and Imaging | Document Management
As leading economic indicators continue to signal a global economic slowdown, companies are looking for practical steps to take – such as lowering costs and streamlining operations – in order to weather the storm and achieve a competitive edge in the eventual recovery. At the same time, recent industry research shows that businesses also want to be more environmentally responsible. There are several document management practices that can help companies reach both their environmental and cost-reduction goals. From the sustainability perspective, these practices can significantly reduce the use of paper, thereby saving trees, gas in shipping the paper, physical space to store it, and halting the eventual destruction of many files that end up in a landfill. According to the Environmental Paper Network, “If, for example, the United States cut its office paper use by roughly 10 percent, or 540,000 tons, greenhouse gases would fall by 1.6 million tons. This is the equivalent of taking 280,000 cars off the road for a year.”
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Document Management | Enterprise Content Management (ECM) | Sharepoint and Office 365
Saving money is the most significant current driver. Compared to recent years, cost-saving has taken a clear lead over compliance as the primary business driver for investments in document and records management. Tracking the most significant business drivers over a number of years shows regulatory control and associated compliance risk peaking in 2007 with a fall back in the last two years to cost savings. This is obviously due to the economic downturn - which was in part caused by insufficient regulatory control. We feel that compliance and risk avoidance may rise again once the dust settles over the many regulatory lapses and forced mergers.
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Capture and Imaging | Document Management
Not every document management company has the expertise and flexibility to meet your firm's needs. Follow these guidelines to choose a document scanning and document management service provider that will help your company operate more efficiently, improve your bottom line and strengthen your competitive position; now and as you plan for growth in the future.
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