From paper to digital: A roadmap to effective information governance

September 03, 2024

The transition from physical documents to digital formats offers a plethora of advantages – improved accessibility, enhanced search capabilities, and streamlined workflows, to name a few. However, without proper groundwork and a well-oiled change management machine, this transition can lead to chaos and frustration down the line. To unlock the potential of digitization, firms must prioritize three critical elements: Document housing, filing organization, and information security.

Document housing: Taming the paper trail

Imagine a library without a filing system. Locating a specific book would be nearly impossible. Documents, physical or digital, require a designated space for storage and retrieval. With the global datasphere projected to reach 175 zettabytes by 2025, the need for data housing is crucial.[1]

Document housing solutions, for digitized documents, offer numerous benefits. By converting physical documents into digital format, firms can significantly reduce their physical footprint, freeing up valuable office space that would otherwise be occupied by filing cabinets and storage rooms.

Digital storage also enhances disaster recovery capabilities. Unlike physical documents susceptible to damage from fire, floods, or other unforeseen events, digital files can be securely backed up and easily restored, ensuring uninterrupted access to critical information.

Furthermore, document housing plays a vital role in mitigating environmental impact. The Environmental Protection Agency (EPA) estimates that paper production in the United States alone generates millions of tons of waste annually.[2] Embracing digitization reduces reliance on paper, contributing to a more sustainable future.

Strategies for effective document housing

• Centralized storage: Designate a secure and accessible location for physical documents awaiting digitization and consider cloud storage solutions as a robust alternative for digital files.
• Comprehensive inventory: Maintain detailed inventory of physical documents, including details like document type and creation date
• Robust disaster recovery: Develop a plan that outlines procedures for backing up digital files and ensuring their accessibility in case of emergencies

Filing organization: From chaos to clarity

A well-organized filing system goes beyond document storage; it directly impacts productivity, teamwork, and legal compliance. A study by McKinsey & Company revealed that the average employee spends a significant amount of time each week searching for information, highlighting the need for intuitive filing structures that minimize lost time and streamline workflows.[3]

In addition to boosting individual efficiency, an organized system fosters collaboration, enabling teams to easily access and share documents. This seamless sharing of information enhances knowledge transfer and promotes a more cohesive work environment.

Moreover, in today’s heavily regulated business landscape, maintaining a robust filing system is crucial for adhering to various regulations that mandate document retention for specific periods. A well-organized system not only simplifies compliance efforts but also mitigates potential legal risks.

Strategies for effective filing organization

• Standardization: Implement a standardized naming convention for files, ensuring consistency and clarity. This could include using a combination of date, department, document type, and keyword descriptors.
• Folder hierarchy: Create a logical folder hierarchy that reflects your organization’s structure and document types.
• Metadata management: Utilize metadata–data about the data–to categorize and tag files for easier retrieval. This could include author information, creation date, and keywords.
• Retention and disposition: Establish clear guidelines for document retention by type and implement secure procedures for data disposal. By effectively managing document lifecycles, firms can protect sensitive information, reduce storage costs, and mitigate legal risks.

Information security: Building a digital fortress

In an increasingly digital world, the risks to sensitive information are ever-present. Prioritizing information security isn’t just good practice, it’s essential for these three reasons:

First, data breaches are a costly reality. A 2023 IBM report revealed that the average cost of a data breach globally is a staggering $4.35 million.[4] Robust security measures are crucial to minimize unauthorized access and protect confidential data. Second, compliance with regulations like GDPR and HIPAA, which mandate specific data security controls, is non-negotiable. Failure to comply can lead to hefty fines and legal repercussions.

Finally, a company’s reputation is on the line. A data breach can shatter consumer trust and have long-lasting negative impacts on brand image. In short, information security is an investment in protecting data, ensuring compliance, and safeguarding a company’s hard-earned reputation.

Strategies for effective information security

• Access control: Implement access controls that restrict access to sensitive information based on user roles and permission levels.
• Encryption: Encrypt digital files, especially those containing sensitive data, rendering them unreadable to unauthorized users.
• Security awareness training: Educate employees on security best practices, including password hygiene, phishing awareness, and the importance of reporting suspicious activity.

Tap into expert power

The efficient management of information is paramount, however, the process of digitizing and storing vast amounts of data can be daunting. Outsourcing digitization processes and records management to a specialized provider can streamline your operations, improve data accessibility, reduce costs, and enhance your focus on your core activities.

Expertise and technology: Outsourcing partners specialize in digitization and document housing, possessing the latest technologies and skilled personnel to handle the process efficiently and accurately. They can convert various formats, including paper documents, microfilm, and audio/video recordings, into indexed digital files, ensuring high-quality and standardized outputs.

Scalability and flexibility: Outsourcing offers unparalleled scalability and flexibility. Whether you need to digitize a few boxes of documents or an entire archive, outsourcing providers can adjust their services to meet your specific requirements. This is particularly beneficial for organizations with fluctuating digitization needs.

Focus on core competencies: By outsourcing non-core functions like digitization and document housing, organizations can free up valuable resources and focus on their core competencies. This allows for improved productivity, innovation, and overall business growth.

Document housing, filing organization, and information security form the cornerstones of a successful digitization project and an effective information governance framework. By laying a strong foundation with these elements, firms can unlock the full potential of a digital document management system.

Learn more about how Williams Lea helps leaders accelerate digital transformation in their firms.

[1] Source: https://www.datauniverseevent.com/en-us/blog/general/AI-and-the-Global-Datasphere-How-Much-Information-Will-Humanity-Have-By-2025.html

[2] Source : https://www.epa.gov/facts-and-figures-about-materials-waste-and-recycling/paper-and-paperboard-material-specific-data

[3] Source: https://www.ibm.com/support/pages/cognitive-university-watson-systems-smartseller

[4] Source: https://www.ibm.com/reports/data-breach