Building Operational Resilience Through Digital Transformation
Pre-COVID, most organizations probably felt they had adequate disaster recovery and business continuity plans in place to withstand any major disaster. What they didn’t anticipate was a global shift to a remote workforce practically overnight, followed by a surge of supply chain disruptions and the sudden inaccessibility of critical business information.
As a result, many businesses were forced to shut their doors. Yelp data shows 60% of business closures due to the coronavirus pandemic are now permanent.
As we move towards the New Reality, business leaders are navigating through an entirely new workplace landscape. It’s evident that traditional approaches to recovery and business continuity management no longer meet most businesses’ needs or those who want to survive.
Many companies are investing in technology and digital transformation to ensure their operational resiliency. With the right strategy in place, you can ensure critical assets’ reliability and build supply chain operations to withstand any disruption.
What is Operational Resilience?
Operational resilience is an organization’s ability to continue business operations while facing adverse events. It’s a blended approach to the prevention, response, and recovery of operational disruptions.
An effective operational resilience strategy offers a roadmap for organizations to sail through disruption rather than respond to it. The fundamental principle is “bend, but don’t break.”
In the case of COVID, transitioning manual paper processes to digital workflows has helped organizations worldwide improve their business resilience. Here we’ve rounded up six tips to steer your transition from paper to digital workflows that can adapt to anything:
Tips to Transition Paper Processes to Digital Workflows
- Conduct an audit of your space and inventory
- Digitize your mailroom
- Implement hybrid scanning and storage
- Automate workflows
- Move to a cloud document management system
- Embrace new partnerships
Conduct an audit of your space and inventory
To get started with your digital conversion, perform a thorough analysis of your environment, taking account of your current work situation. Revaluate your office space in regards to any new work from home policies. Are several of your employees working from home, or do you plan on implementing a flex working environment? Conduct an inventory audit of paper files and determine what can be digitized, shredded, or moved to long-term off-site storage.
When you’re sorting your paper files to scan, remember to think about how you want each document categorized. To start, stack each relevant or related document in piles according to how it should be indexed in your digital filing system. The more specific your documents are classified, the easier it will be for you to find them in the future.
Digitize the Mailroom to Enable Continuity
Another result of the pandemic that many organizations didn’t anticipate was distributing hard-copy mail to employees as they worked from home. Remote work situations have made the management of physical mail and critical business documents more challenging than ever.
By implementing a digital mailroom, mail becomes easier to access, share and integrate into workflows than paper records. The more access you have to active files, the better equipped your remote workforce will be to perform their jobs.
Implement Hybrid Scanning and Storage
In some cases, a full digital transformation might not be the most cost-effective or practical approach for your business. This is especially true when paper records continue to be an integral part of your workflows and archives.
Instead of scanning every file you own, you can use scan on-demand to digitize vast quantities of physical files over time. Bills, notices, and contracts that often need to be copied and distributed can be scanned for quick access and sharing. Other records that don’t need to be accessed can be stored in an offsite records storage facility to meet legal retention requirements.
A recent IDC survey revealed that automating content-centric workflows would yield a 36% increase in revenue, a 30% reduction in cost, a 23% reduction in risk, a 40% reduction in errors, and a 44% increase productivity.
To eliminate mundane administrative tasks and support today’s remote workforce’s needs, businesses turn to workflow automation. With documents digitized and managed through automated systems, professionals can understand who is accessing documents and how they’re being used. Even better, most workflow automation software enables you to stay up-to-date on tasks, automate manual business processes, and gain powerful insights into optimizing operations.
Move to a Cloud Document Management System
Before engaging with a document scanning company, you’ll need to think about what system you want to access and manage your newly scanned files in.
If you’re looking for a cost-effective option to store and access your files and want to avoid maintaining an in-house document management system (DMS), cloud storage and document hosting might be an ideal solution. For smaller and mid-sized companies with modest budgets, cloud storage offers flexible SaaS pricing compared to upfront DMS investments and doesn’t require any extra equipment. Cloud storage is also ideal for remote employees as it only requires an internet connection to access files.
Embrace new partnerships
According to the 2019 Global Intelligent Information Management Benchmark Report from M-Files, 82% of surveyed small and large organizations said they would endure less than optimal productivity if they didn’t address their information management issues.
That’s why now is the time to engage with an outside expert specializing in integrated information management to help navigate your business through its digital transformation journey.
Vital Records Control’s suite of hybrid records and information management solutions allows you to seamlessly integrate your physical and digital assets into your daily workflows and operations. Our blended approach to information management equips you with the tools and technologies you need to store, manage, and access your documents for full information lifecycle management.