ANDOVER, MASS. — Omtool, Ltd. (OMTL.PK), the trusted provider for document process automation solutions, today disclosed the findings of a recent technology survey designed to better understand the document-based initiatives across a number of industries. The survey was conducted by Omtool over a two-month period and while it was provided to all industries a large percentage of respondents represented the legal market, which was not surprising given the document-intensive nature of that market. However, the findings are representative of most document-intensive industries and demonstrate key technology transitions such as those occurring in enterprise fax.
Traditionally, document capture and workflow solutions were adopted to cover the most common paper-to-electronic document challenges such as scanning back to the user, typically through email, and scanning to a “save location” such as a document management system, network folder or even a user’s desktop. As this type of capture became commonplace, more targeted and specific document processes were automated with scan, capture, route and fax technologies. These document processes are often referred to as “workflows.” In this survey, it was found that general records management continues to be the workflow where most companies are using document-process automation solutions.
Outside of general records management, it was found that 52% of respondents were automating document processing in accounts payable and receivable where a large portion of documents still originate and are sent and received in paper copy through traditional mail. The next most concentrated focus representing 43% of the user community was in the area of document assembly. As many business processes require an assembly of documents coming from different locations, in different formats and at different times, automating the process of document assembly becomes increasingly important and a significant area for productivity savings. Loan application processes within financial services and creation of closing binders in legal are good examples of the document assembly process.
Beyond this, human resource documentation and invoice processing were workflows that approximately 25% of respondents were automating. Other workflows to note included closing binders (in corporate legal and law firms), contract management, new client onboarding, and mailroom automation.
In addition to these workflows, Omtool’s study found that a third of companies are still investing and looking for enhanced fax-based communications. Interestingly, 66% of the respondents have moved or are moving to Voice over IP (VOIP) systems and plan to migrate their fax infrastructure as well. For years, technologists have predicted the demise of corporate fax, but that thought is no longer true. The rapid adoption of VoIP systems is quickly leading to the need for FoIP solutions built on the communication infrastructure.
Some of the most commonly mentioned technology challenges or initiatives organizations plan to address this year include having document-centric content available electronically as part of an initiative to move toward a more “paper-light” office, updating current technology systems and integrating existing technologies with one another to centralize information and streamline workflows.
“The results of this study highlight the move from common, everyday scanning activities to focus on high-value workflows where significant cost and productivity savings may be realized,” saidKaren Cummings, Executive Vice President, Omtool. “What was most surprising was the number of companies that are continuing to invest in fax-based communications and are moving to Fax over IP. This is a transition that we will be focusing on and supporting with our client base.”
Through powerful document capture and workflow solutions organizations have the ability to create a centralized platform for automating their document processes and workflows across their organization with immediate access to critical content throughout the document lifecycle, regardless of the format or location. More forward-thinking companies are continuing to implement these kinds of solutions to advance their business and reduce their eco-footprint.
Omtool’s expanding portfolio of solutions address both the most common and the unique document challenges for streamlining document-centric processes. Whether your organization is looking to integrate document-centric content with existing business applications and content management systems, transition to VoIP, or automate document workflows company-wide, Omtool can help meet your technology initiatives.
Omtool’s recently released a white paper addressing the transition to Fax over IP entitled “FoIP Transitions: Technology Changes and Cost Savings” which is now available from Omtool’s website: http://go.omtool.com/FOIP14Trends
About Omtool
With over 20 years of leadership in document-related technologies, Omtool is helping the world’s largest corporations and companies with document-intensive processes, cost-effectively solve their document process automation problems. Omtool’s award-winning solutions are built upon an expanding platform of secure and scalable document capture, processing, delivery, and archive capabilities. Omtool customers include some of the world’s largest financial institutions, hundreds of healthcare providers and legal firms, and companies across virtually every industry. By partnering with Omtool, our customers reduce the costs, complexity, compliance risks, and environmental footprints associated with critical business processes that involve paper documents. Based in Andover, Mass., with offices in the United Kingdom, and with world-class global customer support, Omtool can be contacted at 1-800-886-7845 or at http://www.omtool.com/.