Currently, especially after the COVID-19 pandemic, more than 85% of global businesses are in the process of digitization. Technology is changing the way documents are scanned . In fact, more than 65% fear that not digitizing their business processes will lead them to lose their competitive advantage, which will affect their company’s profits. For this reason, many organizations are working to accelerate their digitization plans.
Throughout this article, we will expose the limitations that the digitization of documents has as the only measure for the digital transformation of the company.
What is the traditional vision of document digitization?
Digitizing documents is the process of converting a large number of documents that are in paper format to digital files , records that you can have stored in a document management system .
The most notable advantages of document digitization are the following:
- One of the most important and obvious advantages of digitization is the savings in storage space within organizations. In addition, awareness of the environment is growing and therefore many companies want to stop printing so many unnecessary papers and in turn save on printing costs (ink, paper, photocopies, etc.).
- Likewise, digitizing documents provides greater security in the maintenance of information, since, if they are properly guarded, the loss of documents is avoided. What was previously under lock and key can now be protected by different passwords and restrictions depending on the user. This reduces the risk of loss or theft of information.
- In addition, with the arrival of “teleworking” in a greater number of companies, employees have to consult information without being present in the office and need to access information from mobile or portable devices without access to physical documentation.
Information stored in paper formats is degradable information and deteriorates further with each manual use. Digitizing the document ensures that the most important databases of a company are saved and preserved for the future.
Is document scanning enough?
Although document digitization is undoubtedly the first step towards digitization and digital transformation of the company , it will not be enough if we stay at that step.
Once all your “papers” have been digitized, it will be time to automate the rest of the processes. In other words, the digitization of documents is not enough if it is not accompanied by solutions that allow automating the treatment and manipulation of said documents. Therefore, first the documents will be digitized and then said digitized documents will be managed in a specific way by automating the document management and manipulation processes . Both processes result in a more efficient and competitive company, with employees dedicated to those tasks that directly benefit the business.
Digitization of documents in the area of electronic invoicing
As the digitization of documents is the first step in the digitization process, the digitization of invoices plays a decisive role in the accounting and financial field. Regardless of the size of the company, from the smallest to the largest, the volume of invoices received and issued is high and it is very easy to make mistakes if the management is carried out in a traditional way. That is why the digitization of invoices is decisive in the transformation process of the company. Generally speaking, invoice digitization is a process by which your paper invoice data is transferred to an electronic environment.
This invoice digitization process is more complex than it sounds since:
- Specialized tools such as an OCR (Optical Character Recognition) scanner are required . With it, you can transform the scanned paper image, PDF files or a photo into editable text. This will allow us to create a text document that we can edit or incorporate into another with which we are working.
- The tax agency establishes certain technical requirements that all electronic invoices must comply with, such as: the use of software and format approved by the AEAT, digital signature on the document, and a minimum resolution of 200 pixels.
From easyap, we have the homologation by the Tax Agency for the certified digitization of invoices . As a consequence, the physical filing obligation is eliminated. Thanks to this, it allows us to bring our clients closer to total digitization and an office free of paper files.
Advantages of digitizing invoices
The advantages of electronic invoicing or digitization of invoices are numerous, including:
- Increase in employee productivity
- Cost reduction, turning the fixed cost into variable
- Improve accessibility and reduce lost invoices
- Agility and automation of processes
All this will help companies to optimize their results and obtain the much prized competitive advantage over other competitors.
The company with the intention of leaving behind the traditional procedures and determined to optimize its processes as a path towards the digital company , needs to start with the digitization of documents, specifically, the digitization of invoices. In the coming years, the paper invoice will not be an option for the accounting and financial departments and the only reality will be the electronic invoice.
In conclusion, we can see that having an optimal document management reduces costs , increases cash flow and improves customer service. All processes in a company can benefit from the incorporation of an invoice workflow , which allows its development with greater speed and efficiency. If you need information about our solutions and services, fill out the following form and we will contact you to help you.