3 Steps to Prepping for Next Year

3 Steps to Prepping for Next Year

It’s time to wrap up this year’s business activities, and often it can seem like a mountain of paper has collected while you were tending to your organization’s core mission. To get a fresh start in the new year, you’ll have to deal with all those documents. Conquer the paper mountain by sorting documents into three categories: Scan, File, or Shred.

Scan It – Transform your paper documents into digital assets through a well-designed imaging program. Much more than a simple PDF document, imaged documents offer the advantages of secure information access, speedy information searches, and extraordinary space savings. The National Association of Productivity & Organizing estimates that a four-drawer file cabinet holds 18,000 documents. A single desktop hard drive can store the contents of 100 file cabinets. What could you do with all that extra office space?

File It – Certain original documents simply have to be retained in paper form. However, they don’t have to take up an excess of storage space. Offices can reduce their document storage footprint by 50% with a high-density shelving system that eliminates all but one of the center aisles between file cabinets. Add security features like biometric locks, and your one-of-a-kind documents won’t fall into the wrong hands.

Shred It – Is a document outdated? Or if it’s still relevant, has it been imaged? Or do you have multiple redundant copies of a document? If you answer “Yes” to any of these questions, you may not need to hold on to the original documents any longer. Shredding unneeded documents, like imaging, reduces your physical storage footprint. Take care, however, that your documents are shredded securely, so intellectual property, private information, and trade secrets aren’t exposed.

SmallBusinessTrends.com offers a number of ideas for office organization, including document management tips. Make your New Year’s resolution now to talk to a document management consultant in January, and next year you’ll avoid the end-of-year paper mountain. And if you’ve already implemented a well-organized document management system, you can enjoy the holidays without paper anxiety

 

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Troubled by Porch Pirates?

Troubled by Porch Pirates?

Those bold, shameless porch pirates are out in force, appropriating delivered goods and selling them for whatever they can get. But there could be a different kind of “porch pirate” targeting your business – data thieves who trade in the business of stolen information.

Whether it’s package theft or data theft, it affects your bottom line. In cases of HIPAA violations, identity theft, or other unauthorized information releases, you can face costly fines and lawsuits. And your profits take a hit when you have to replace shipments that the customer never received.

When clients don’t trust your security, they take their business elsewhere. Fortunately, there are some smart storage technologies that boost security and reduce your liability.

  1. Imaging – Paper is often called an “ephemeral medium.” It’s easy to lose, easy to damage or destroy, and easy to steal. Document imaging shields your business from the liability of missing documents and information theft. The electronic versions of your documents are accessible only to authorized users. With the originals shredded or in secure archives, your imaged documents are safe in their virtual file cabinet. Those who shouldn’t touch your documents will not be able to lay their hands on them, quite literally.
  2. Smart lockers – Amazon was one of the earliest adopters of smart-locker technology. A customer’s package is delivered to a numbered locker with an electronic lock automatically set to a one-time combination. The combination is emailed or texted to the customer, who can then retrieve the package at a convenient time. Smart lockers are now cropping up in apartment complexes, in college campuses, and in business settings, eliminating highly insecure door delivery. It’s a win for the package recipients and a win for the business or the property management.
  3. Secure high-density storageHigh-density storage systems are known for their space-saving attributes, reducing storage footprints by as much as 50%. Sliding on floor-mounted rails, these systems eliminate all but one aisle between shelving units. Their electronic locks eliminate something else: unauthorized access to sensitive material such as patient health records, legal documents, or intellectual property. Locks can be programmed to track access based on security codes. Biometric locks add an even greater level of security.

People are wising up to the ways smart technology can defeat porch pirates around their homes. Talk to a storage consultant who can help you assemble the right security solutions to keep the porch pirates and data thieves out of your business.

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You Get a Million, You Get a Million, and You Get a Million

You Get a Million, You Get a Million, and You Get a Million

The IRS is acting like Oprah, and small businesses across the U.S. are benefiting. Thanks to Section 179, the IRS is handing out a $1,000,000 deduction to every small business that puts qualifying equipment and/or software into use before the end of the year. Rather than depreciating equipment over the course of several years, Section 179 allows businesses to deduct the full price of equipment in Year 1, up to $1,000,000. That’s an enormous tax benefit.

And it gets better: Even if you finance the equipment rather than paying for it up front, you still qualify for the deduction. Leases as well as purchases are included in this rule. You don’t have to hand over a pile of cash in order to reap the Sec. 179 benefit.

Almost any tangible business-related product qualifies for the deduction, including:

  • Equipment purchased for business use
  • Computers and off-the-shelf software
  • Data hardware (essential for imaged-document storage and access)
  • Office furnishings and fixtures, including high density mobile storage and lockers
  • Office equipment
  • Certain business vehicles, including fork lifts and 9-passenger vans
  • Property attached to your building that is not part of the building structure (casework and industrial shelving, for example)
  • Tangible personal property used in the business, or equipment with a partial business use
  • Some improvements to existing business-only buildings, including security systems, HVAC, and roofing

There’s one small but essential thing to remember: The new equipment must be placed into service by December 31.

With only a few weeks left in the year, that deadline may seem like an insurmountable scheduling problem. Luckily, many business-equipment vendors offer quick-ship programs for their clients who want to take advantage of the Sec. 179 deduction. If you’re planning an equipment acquisition in the first quarter of next year, why not buy it now, put it into use before the end of this year, and get the money the IRS put under your seat?

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Document Conversion Mandate? How To Create Success

Document Conversion Mandate? How To Create Success

A deadline is looming for government agencies: By December 31, 2019, they must be able to manage all their records in an electronic format. In the private sector, too, businesses and professional practices have been changing over to electronic record keeping. When your organization’s leaders mandate a move to digital operations, what will that mean for your area of responsibility?

Last year, the director of records management and outreach of NARA (National Archives and Records Administration) issued a useful cost-benefit breakdown that the private sector, as well as the public sector, can utilize for planning a document conversion program. Now that this multi-year conversion effort is nearing its deadline, the same office has published criteria for the successful management of electronic records. And like the cost-benefit analysis, the NARA success guidelines can be applied to private-sector organizations as well.

Among the key benefits of imaging are security, searchability, retrievability, and audit trails. A successful document conversion program will produce these benefits. While the NARA success guidelines are intended for records that originate electronically, a number of the success criteria are applicable to enterprises making the transition from paper to digital documents via an imaging program, including:

  1. Well-designed access controls that let your organization perform its business functions without additional productivity roadblocks.
  2. Imaged documents that comply with NARA format and metadata requirements, as well as Sec. 508 regulations, for those enterprises doing business with the federal government.
  3. Policies that support digital document management, especially organization-wide communication, stakeholder involvement, and personnel training.

When the document conversion mandate comes from your private-sector business’s C-suite, there won’t be an agency like NARA to help guide your transition to electronic records management. But that doesn’t mean you can’t achieve the same document-conversion success that the federal agencies have. Reach out to a specialty vendor or consultant working in the imaging field to have them develop a custom conversion program designed for your specific needs.

 

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Coworking: Where Do I Store My Papers?

Coworking: Where Do I Store My Papers?

Coworking space is a hot topic in commercial real estate. Companies like WeWork and Regus continue to lease more and more office space for the temporary use of their subscribing members. Even the GSA is looking at coworking space as a way to meet some of its space needs. However, coworking spaces can create process challenges for distributed teams and their managers. Imaging is the solution.

Statistics compiled by real estate service company JLL show the proliferation of coworking space, particularly in the past two years. The benefits of coworking office space are well-documented: few or no build-out costs, no long-term lease, tax benefits, and simplified telework. From a facilities management standpoint, coworking office space is an ideal solution to the need for temporary space.

For the occupants, too, the quality of coworking space has improved considerably since the early days when complaints about privacy and noise were common. Many coworking space providers are now reconfiguring their spaces to offer privacy pods and noise abatement.

One problem most coworking spaces can’t solve is document storage and information accessibility. Coworking offices are in the business of offering working space, not paper-document storage space. Document-dependent organizations struggle with their work processes if their teams are distributed in several widespread co-working spaces, without access to the paper documents they need.

Fortunately, there’s a solution for that: Imaging. Converting paper documents to digital documents makes those documents shareable. Distributed teams can have full access to all the information they need. Further, the converted documents are even easier to use than paper documents, since the conversion process makes them searchable – a key word or phrase can be delivered with electronic speed.

Converted documents offer a level of security and safety that paper documents can’t match, especially in a coworking environment where outsiders might have unauthorized access to confidential papers. With a database of imaged documents, managers can ensure information integrity by setting access permissions and tracking document usage.

Judging from the results of JLL’s study, coworking is going to be a significant part of many organizations’ real estate choices. If your enterprise is considering adding coworking spaces to your real estate mix, now is the time to put an imaging plan into action and add speed, security, and information accessibility to the other benefits of coworking.

 

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Document Findability Adds Up to Profitability

Document Findability Adds Up to Profitability

Google, Bing, and all the other online search engines have raised the bar for information accessibility. We have come to expect, in mere seconds, the answers to queries that used to take many man-hours of research and compilation. Such easy access to data is a great time-saver for any business operation, and as we all know, time is money. But if your business operations rely on paper documents, you may feel there’s a lot of staff time spent hunting down data stored on paper, whether it’s a single document in a file folder, or a single sentence buried within that document. If you think it’s reducing your profitability to operate this way, you’re right.

Findability is the key to speeding up your document searches, and the best way to improve findability is to convert your paper documents to digital documents.

Imaging, also known as document conversion, is much more than creating a simple PDF. Digital e-documents are searchable and sortable. They are essentially “smart” documents, and because they are stored on a server, your data’s findability rate is as fast as a search engine. Instead of having to go look for data in a file cabinet, the data comes to you. It’s like having your own internal Google for your documents. And while Google’s documents are public, your imaged documents are accessible only to your authorized users.

Information is an asset. Likewise, your team’s time is an asset. When you improve document findability, you maximize the value of your informational assets. Your team is able to get vital information quickly, and everyone remains focused on your organization’s primary mission, with all the assets – information and time – working together to increase throughput. And as economists tell us, increased throughput will lead to increased profitability.

Findability could be your success tool to improving productivity and profitability. A document organization specialist will help point you to the right system for your enterprise.

 

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