In a time where digital transformation is no longer a buzzword but a business imperative, the importance of digitizing hard-copy documents cannot be overstated.
Just as we’ve witnessed the evolution from cassette tapes to CDs to mp3 files, organizations must now invest in intelligent document processing (IDP) to bring their data and documentation into modern formats that mitigate risks of destruction or obsolescence. This shift isn’t just about keeping up with technology—it’s about preserving a company’s history, protecting vital information, and setting the stage for future growth.
The Pressing Need for Document Digitization
While most organizations acknowledge the importance of digitizing documents, many have hesitated due to the perceived lack of time or effort constraints required to work through large volumes of documents. However, advancements in technology are rapidly breaking down these barriers, providing more options to quickly, seamlessly, and intelligently digitize documents of all types and sizes. For instance, cutting-edge solutions like ibml’s FUSiON HD can scan and digitize up to 730 pages per minute, dramatically reducing the time investment required for large-scale digitization projects.
A recent study conducted by McKinsey emphasized the value of digitizing and reporting cost savings across sectors. In this study, digitizers overtook laggers, demonstrating that 89% of large companies that have already implemented digital and AI transformation initiatives have experienced a 31% projected revenue lift and 25% expected cost savings.
There is a compelling business case for document digitization across various industries. Real estate firms, healthcare providers, government agencies, and law offices often face regulatory requirements to store documents for extended periods. Traditional hard copy storage not only consumes valuable physical space but also demands complex filing systems that waste time and resources to sort through. By contrast, digital storage offers a more efficient, cost-effective, and accessible solution.
Preservation Beyond Business: The Human Element
Beyond the business benefits, document digitization plays a crucial role in preserving human history. From tracking family lineages to understanding the evolution of cultures and languages, digital preservation ensures that important information remains accessible for generations to come. This is why organizations like the National Archives and Records Administration (NARA) are leveraging advanced digitization technologies to safeguard historical documents.
With more than 13 billion paper records in its holdings, NARA’s catalog currently includes more than 270 million digital records and is working towards digitizing 500 million pages of records by September 30, 2026. In October 2023, NARA employees began work at their digitization center, which was set up to help the organization reach its goal of increasing public access to records through digitization and online delivery. Enhanced equipment in the form of high-speed scanners and overhead camera systems are helping to accelerate the organization’s efforts to digitize up to 10 times as many records per year as they previously processed, opening up access to additional records at faster rates.
Overcoming Digitization Challenges
While the benefits of document digitization are clear, the process can seem daunting. Beyond the high-speed scanners they are known for, ibml is expanding offerings to increase automation and reduce human effort and oversight with their AI-powered ibml Cloud Capture.
Gartner predicts that this year, organizations will be able to run 25% more tasks autonomously, and pairing robust equipment with sophisticated technology like AI leads to advancements that make the transition to digital more achievable for organizations of all sizes.
The Path Forward
As we move towards an increasingly digital and AI-enabled world, organizations that take control of their data and documentation by moving it into easily stored and searchable digital formats will have a distinct advantage. Digitization isn’t just about keeping up with technology—it’s about preserving an organization’s legacy, improving operational efficiency, and remaining competitive.
Whether it’s a small business looking to streamline operations or a large corporation managing vast amounts of data, the time to invest in document digitization is now. By embracing intelligent document processing, organizations are not just recycling hard copies—they’re cementing their position in the digital future.
Elizabeth Walker is a contributor at Grit Daily. She covers topics like business, entrepreneurship, tech, and leadership.
