Important faxes or paper documents can get easily lost and result in serious legal ramifications in any organisation. If you are into medical, finance, insurance or banking business then the impact could be significant even if one customer files a lawsuit as a result of a missing document.
Recently, an incident occurred with one of the leading insurance companies with one of the fax documents stating the pre-disease details of a customer were lost. This resulted in the amount not getting approved when the customer filed his claim for expenses incurred. A lawsuit was filed and the insurance company lost the same. We are not saying that it would always be this critical but you ought to be ready to deliver your best and prepare yourselves for any eventuality.
Even though the significance of backup process and the need for a document management system (for faxes as well as other documents / records) is acknowledged by everyone, they fail to implement it in the organisation. Delaying the implementation of an archival system can have a ripple effect. Businesses that have an archival system in place are far better equipped to succeed in today’s digital age. Better communication, lower costs, quick turnaround times (TAT), improved productivity and quality levels are not good to have terms but standards to follow to sustain in this competitive world.
Contributed by Ashish Baby