Even though the world is experiencing a drastic rise in digitization, ePDS, Inc. a document management services and customer communication management solutions provider, notes that consumers still prefer physical copies of documents such as account statements over electronic ones.
“The demand for data printing continues to be strong despite the growing presence of digital media,” said Minetta Tangco, EVP and general manager of ePDS. “This is particularly true for financial institutions, banks, and credit companies, as well as utility companies handling telecommunications, power, and water where majority of their clients expect to receive statements of their accounts via physical documents. Additionally, when it comes to bills, consumers value physical mail as a record-keeping tool, thereby serving as payment reminders.”
“Nevertheless, more and more companies are switching to the digital dimension driven by the increasing trends of big data, cloud technology, end user focus, social sharing information, and security. More and more companies are now targeting and working on achieving a workspace that depends less on paper,” added Tangco.
Though digital workspaces are more efficient, traditional filing systems still have the security most businesses crave for. Tangco noted, “Though most Filipinos appreciate the benefits and advantages of shifting to digital storage of their documents, obviously to save on physical storage space and amount of time accessing these in its physical form, including the convenience of mobile accessibility anytime, anywhere, the thought of jeopardizing the security of sensitive and confidential information over digital access and making it vulnerable to hacking is still a factor.”
Due to the merits of both document keeping methods, businesses should strike a balance between convenience and control. And in order to make them blend seamlessly, a proper document management system—which identifies, preserves, and secures data for institutional accountability and timely access to information—is needed.
“With the consumer’s preference of physical documents and many companies making the digital shift, we are now seeing a convergence of both traditional and digital document management systems,” concluded Tangco. “Companies should consider this as an opportunity to develop both their physical and digital document management systems to boost efficiency and profitability.”