Everywhere I look, companies are introducing new digital services and re-engineering business processes to capture the value of technology innovation. But with the challenges of this transformation, it’s also easy to see how opportunities get missed – even when you think you’ve got every base covered. One critical factor I frequently see overlooked is the value of document analytics in transformation programs.

Document analytics opens up a whole new level of business intelligence – it’s a real hidden gem. I work with a lot of companies that use document analytics to unlock strategic value through having a better understanding of how, where, and why documents are used across their business. They can benchmark these insights against their peers, identify the potential for additional savings and efficiency, and get a clear view of which processes need to be improved.

When it comes to saving money and boosting productivity, most small and medium businesses (SMBs) tend to think big. Their focus goes to large equipment, workflows, and concerns about overhead costs. Suddenly cost cutting seems complex and challenging. What if there was one small, simple change that could add up to big savings? There is.

The humble toner has undergone a makeover in recent years, becoming easier to use while also growing less expensive. Everything from the way you use it to the way you replace it has evolved. Are you keeping up?

1. New advancements mean lower costs

Despite digital transformation initiatives across all verticals, paper-intensive processes still bog down many small to medium-sized businesses (SMBs). In fact, a recent survey states that on average, 46% of all SMBs report that time is wasted on these paper-laden workflows, every single day. Because these same organizations seek cost and paper reductions and improved and digitized document workflows, ample opportunities exist for partners to assist them with Managed Print Services (MPS) contracts.

Print assessments give partners an edge

If I’ve learned one thing, it’s that real, lasting transformation is not going to come from four to five big ideas spearheaded by management; it’s  a thousand decisions made differently every day by thousands of our colleagues — their ideas, their passion, and their leadership. My job is to enable that.

Without a doubt, Xerox has been in “productivity mode” for years. It may be our most commonly used word. And we’re good at cost cutting in response to market conditions that have challenged our business but we now have the opportunity to shift from just enough to chase what’s possible.

When we first started down the strategic transformation path, I was one of the biggest skeptics. That said, I truly believe now that what we’re doing is fundamentally different than anything we’ve ever attempted. Here’s why:

Organizations of all sizes continue to be pressured to embrace digital transformation. Respondents to a recent Xerox survey predicted that only nine percent of key business operation processes will run on paper in the next two years. But where will that leave paper-laden industries like healthcare and accounting?

By transitioning from analog processes to digital technology, organizations in healthcare, accounting and more can improve the security of sensitive data, make it easier to search for and retrieve information, and boost productivity. Other benefits of an integrated document management strategy include customer satisfaction, adding a competitive advantage to your organization and reduced costs.