Moving from Electronic Document Management to Cloud Document Services

Long gone are the days when documentation and record keeping were tedious tasks which involved stacks and stacks of paper documents. With the advent of digitization, physical document archives have become a thing of the past, as everything has been transferred from the paper to the computer screen. Electronic document management was a huge leap in making access to files and documents at workplace much easier, however, it’s time to move forward.

Now we have in the picture cloud document management, a game changer for firms looking for more efficient systems to deal with copious amounts of files. Once the documents are up on the server, all one needs is an internet connection to access them, from anywhere, anytime. The implications of such a service are very beneficial for firms seeking to achieve higher levels of efficiency. However, before you decide to implement cloud documentation, keep the following points in mind.

Scanning: If your organization isn’t already using electronic documentation, scanning all the existing paperwork can be a time consuming and costly process. This can be a good time to consider if you want all the present data to go up on the cloud or only the new and upcoming projects should be digitized.

Structure: Re-evaluate the storing structure you had been using all this while and upgrade if a better structure is available. Make use of newer and innovative file structures and naming conventions. It will result in more organized storage of documents, along with making retrieval of files fairly easier and faster.

Training: Cloud document management is definitely easier than other ways of storing data, however that doesn’t mean that the staff will not require any training. While choosing which cloud document management services to go for, consider the adaptability of the employees to the system as well.

Updates: As is the case with most digital services, which also serves as a huge advantage, is that they receive updates frequently, so as to keep up with the rapidly changing needs of the customers. To make the most of these updates, the users should be aware about them and make use of the full potential of the features they are provided with. 

Cloud computing and document management services are the future. They are easy to use and implement and add unparalleled value to the organization. If you are not on board yet, then hurry up and join the club, because this technology is here to stay.

Why ‘IOT’ has become indispensable for businesses?

In a layman’s analogy, Internet of Things, which is popularly known as ‘IOT’ refers to a process of connecting technological devices via Internet. The technology has been around in the business world for quite a long time but it has gained immense popularity off-lately.

Something that started off with personal computers has now been able to connect smart-phones, TVs, home theatres, home-automation and what not! Truth to be told, IOT is not just a crucial part of corporate world but it has become an indispensable part of everyone’s everyday life.

According to the latest reports by Gartner Inc. the number of interconnected devices will jump up to 13.5 billion by 2020. Undoubtedly, no other technology has shaken the business world as rigorously as IOT. Here is how Internet of Things is going to change the corporate world for good.

Tracking all kind of information at anytime

Most companies depend upon barcode tracking system for inventory control but thanks to IOT one can connect all the equipment, devices, even products in the same network and track all information without any major problems. In case of any major security issues, IOT security solutions and Digital document management will be there to fix it.

Better information about consumer demands

All the interconnected devices will open gigabytes of data to track. You may find it a bit hard to analyze such overwhelming amount of data initially but this will help you fetch in-depth information about your customers and their behavior. These gritty details about your consumers will definitely help you build your business in the right direction. It is a good idea to use visualizing software for processing and analyzing.

Information processing will become way faster

From traffic lights to public transport, IOT can handle anything in a much better way. With Internet of things lot in place, you can process the information much faster than you have ever imagined. This means you can connect with your customers at any time and provide them better services. Business growth highly depends upon how well you connect with your customers and with IOT you can do that with much ease and agility.

A lot of savings on production and energy

Thanks to IOT, energy demands for present day corporate organizations have decreased by a substantial amount. The machines have got smoother and newer ways to operate and maintenance has also become hassle free. This means much lesser expenditure on inventory, which eventually leads to decreased costs.

How to use Customer Reviews to your Advantage

What could be better than customers advertising your products or services for you? Surveys indicate that up 70% of the potential buyers trust customer reviews before making a purchase. The opinion of your customer is usually considered to be authentic and reliable. Even though you might have integrated complicated technologies such as business process management suite for your business, sharing something as simple as real-time experience on your company website, blog, or social media accounts can do wonders for your public image. For obvious reasons, all marketing efforts don’t have the effect of a positive customer review. Here are ways you can use positive customer reviews to the advantage of your company.

         

·         Simplify review posting for customers

You are liable to get more and more ratings and reviews, if the reviewing process is easy and simple. Moreover, it should be visible to each customer. A customer only feels burdened by posting a review if the process is complicated. Moreover, you should work with the development team to make it interactive and entertaining. It should feel like you are genuinely interested in their feedback and the negatives will be worked upon.

·         Ensure instant response to reviews

One sure shot way to ensure the customer satisfaction is to respond immediately or as soon as possible. Irrespective of whether the review is positive or negative, take notice and respond at the earliest. On visible platforms, acknowledge their concerns; this helps in building trust among the customers, since the newer customers will know that you care even if there is a problem.

·         Check review sites periodically

As you might already know, there are several websites that allow customers to post their experience about any brand or business. These sites don’t only show reviews, but they give listings as well. So, you can create accounts on such websites and ensure that your page/section looks good. However, there are sites where you cannot reply, or have you own account. All you can do here is to work on the flaw and ensure that it is communicated to the customers through social media.

·         Share reviews on Social Media

Facebook, Instagram, and LinkedIn are popular platforms among the public and you can leave the positive reviews for the public to see. This, in turn, yields additional comments and reviews that improve the visibility of your brand. Therefore, include positive feedback and reviews on these platforms through official accounts.

In case you have your hands full with company operations, you can hire agencies providing CRM solutions in Dubai or any place depending on your convenience.    

Electronic Document Storage: A Better Alternative

Businesses of all sizes and nature are required to store documents for personal or legal purposes. They are either stored inside a room in the form of papers or on a computer as files. These documents track and record every transaction, invoice, or modification of the enterprise that helps in calculating the output and shortcomings of the business. Further, they are presented as a piece of evidence in the court of law in case of any dispute. Ergo, proper management of these documents is very essential.

Prior to technological advancements, most enterprises relied on paper for storing documents. But with time, people shifted to electronic document management system owing to its many advantages and features. Here is a list of the various advantages of an electronic document management system:-

Reduced storage space

Contrary to paper document management system, electronic document management system is a more convenient option for most enterprises as it does not require any space for storage. In early times, an entire room was dedicated for storing paper documents that required proper maintenance. Incorporating digitalization helped the enterprises to store and manage all the documents in electronic format efficiently and reduce expenses.

Better management

When documents are stored in hard copies, a huge pile of papers forms from which finding one particular document is like looking for a needle in a haystack. In case the documents are not stored in a particular order, misplacing or losing them is a huge possibility. In electronic platforms, one finds a document simply by clicking on the search button.

Security

Security is essential to store sensitive documents securely. Any leak can have the potential to burn down the entire business to the ground, which is why DMS offers a transparent and highly secure medium to store documents. It can allow only selective people to access the documents. Further, it leaves an audit trail of all the people who accessed and modified the documents.

Backup available

Natural disasters are unforeseen adversities that possess a great threat to paper documents. Flood, fire, and other catastrophes can completely destroy every piece of document stored. In such cases, no backup is available from where the data can be retrieved. Electronic document management system always maintains a backup of all the documents that can be accessed when required.

This is how Artificial Insurance Will change the Insurance Industry

Would you believe if someone told you that insurance companies are beginning to offer personalized solutions in multiple ways? Well if not, think again. Artificial Intelligence (AI) has changed how businesses function and it is now improving the way insurance companies communicate with their customers. Moreover, it is not only a one-way traffic; AI Insurance is also available for companies that invest heavily in the domain. 

There are several claims and AI allows customers to report them simply. Insurance companies can only gain absolute customer satisfaction by providing faster and easier solutions. Here are 5 ways AI is changing the Insurance industry:

1. Claims

The most important aspect of Insurance is claims. Firstly, it takes forever to receive a call from the Insurance company. Usually, it takes about 10-15 days for the claims to be processed; with AI these processes can be completed within 1/3rd of the time. This will put a stopper in fraudulent actions and save a lot of time and effort on the part of the customers and the company.

2. Marketing

Personalization is the key word that brings out the emotions in customers who buy the policies. Without AI, personalized solutions were a farfetched dream. With the help of machine learning, Insurance companies can use the data to develop marketing strategies that resonate with the wants of the customers. These campaigns focus on the human emotions that create a powerful impact on customers. 

3. Data

Data is driving just about everything that is related to businesses. Gathering customer data is by no means, a new practice whereas, expansion is. Data gives insight into customer behavior that allows the officials to strategize accordingly. AI has revolutionized this sphere and gathering data and analysis is quite simple. 

4. Underwriting 

AI is set to change Insurance underwriting jobs. Companies are beginning to invest in developing customized tool to analyze risk and therefore, they will be able to market and sell to those who are actually interested. These predictive risk modules will cut down on the losses in the long run by creating unique policies for every customer. Not only that, AI has revolutionized the way companies regard document management, especially insurance agencies that must put up with tons of tangible data.

5. Chatbots

It is estimated that 95% of all customer interactions will be completed through chatbots by 2025. Chatbots are already quite common and popular. They automate the tasks including claims. Companies have programmed chatbots to send insurance quotes after consumers submit the necessary details.  

Why Multinational Organizations Are Choosing Sustainable Development

Sustainable development has many definitions, but only one definite meaning. It is the development that satisfies the needs of the present generation without compromising the needs of the future generations. Due to the rise of increasing carbon foot print in the developing countries and over-exploitation of natural resources, holistic development has become a hot topic of discussion for all countries. Countries like Dubai, China, India, and Bangladesh are specifically under radar as they are fast booming economies that are off lately contributing maximum to the overall pollution levels globally.    

Addressing and facing the challenges  posed by the climate change requires the ability to assess and understand the climate and implement effective policies and most importantly move towards low-carbon, climate friendly and other sustainable methods of growth and development. 

Individuals, businesses and governments make millions of choices every day, which impact our society. To give effect to sustainable development, individuals need to adopt sustainable lifestyles. Companies across the world, like Data Direct in UAE, have adopted methods of green cooling that help protect the environment. This includes electronic document storage, waste management, service management alternatives, RBA, etc. It has become crucial for organizations to understand how these aspects of sustainable development are dependent upon education. For example, in developing countries, one additional year of education adds about 10% to a person's earnings. In fact, it is the cognitive skills of a population, and not the education alone, that is correlated to individual earning and economic growth. Education is also essential for environmental protection.

In the past few decades, multinational organizations have happily included environment and climate change education and also promoted new attitudes and skills for environmental protection. It induces people to change their consumption and production patterns. In 2009, UNEP and UNESCO initiated the first Global Survey on Sustainable Lifestyles (GSSL). The objective was to listen to young adults, surveying over 8,000 people from 20 different nationalities to have a better understanding of their everyday routines, lifestyles, and expectations for the future with regard to sustainability. Surprisingly, a majority of the individuals demonstrated a lack of understanding about the way that individual actions and benefits are connected with community actions and benefits. A large number of them claimed to be well-educated about the global issues such as climate change, but demonstrated a lack of understanding about the global issues at the local level.  Multinational organizations across the world have therefore adopted methods that will ensure sustainable development and help protect the environment. 

Why Blockchain Technology Is Highly Preferred In Today’s Time?

New developments in the IT sector have more or less transformed the way we exchange information and even do the transaction of money.  According to market surveyors and researchers, it is going to bring several changes in banking, insurance, and asset management in near future. Technologies like Blockchain development and mobile payment systems are a compelling alternative for customers who are tired of the loopholes present in the traditional banking system. Emerging markets are especially interested in these alternative payment systems. 

The blockchain is one remarkable development in the field of IT that organizations and banks are wholeheartedly accepting; prime reason being its effortless way of working. A Blockchain is basically a digital ledger that records make transactions, agreements, contracts, and verify everything when its time.   

Blockchains work on a special software that is readily updated as soon as the transaction, agreement, or contract is made across the network. It is due to the spontaneity of this software that more and more organizations are readily accepting it.   

There are many reasons why organizations are readily turning towards block-chain development. Let’s understand this in a bit more detail. 

It is a Secure Platform 

Blockchain database consists of blocks and transactions that are always encrypted. They are usually “hashed” or “coded” which is why it is very difficult for a foreign agent to penetrate this system. Hence, the integrity and security of your data are always ensured. 

A Customized Platform 

Banking systems are likely to become more ‘customized’ with the advent of this innovative technology. Many finance companies in developed countries have realized the increasing importance of technology in the finance sector and they have already started working on it. For instance, project finance companies in UAE are looking forward to investing in customized applications, crowd-funding platforms, etc. A customized platform ensures that you can access information without any hassles that too not at the risk of sharing for confidential data.

Less “Paperwork” Means Less “Maintenance” 

One of the most prominent reasons why customers are turning to alternative banking systems is because it can reduce a lot of paperwork. Everything is done online and that too in much lesser time. Traditional deposits systems are eroding as alternative lending platforms including peer-to-peer lenders are not getting any attention from customers anymore. If traditional institutions wish to stay in the market then they need to diversify their products and upgrade technology in their systems.

Technology is bringing some drastic changes in the finance sector and those days are not very far when almost everything will be driven by Artificial Intelligence.