Since the pandemic struck, the world has rapidly shifted from paper-based processes and systems to digitalization. Paper transactions tend to have many security loopholes, such as paperwork that has gone missing, dam, damaged by water or fire, stolen physical documents, and copying. So, paperless transactions have emerged. But paperless also has a fair share of risks and vulnerabilities.
Hackers can use this data to deceive consumers and authorities when digital files are compromised. A business can lose clients and investors. Hence, implementing paperless and secure documentation and data management is necessary to succeed. Secure your digital files with the different paperless technologies below.
- Online Faxing
Faxing remains to be one of the means of reliable business communications. Online fax service provides excellent options to businesses to meet their needs for financial statements, real estate documents, legal contracts, health records, patient information, loan paperwork, and more.
One can prevent leaving important faxes unattended on a fax machine and similar incidents. You can send and receive your faxes in your email inbox. Therefore, sensitive business data or personal information will stay private and confidential.
Businesses should adopt paperless or online faxing, especially those belonging to highly regulated sectors like healthcare and finance. Choose a reliable internet fax service that can meet audit standards and regulations, such as the Health Insurance Portability and Accountability Act (HIPAA), for integrity and confidentiality of protected health information (ePHI).
Digitize how you send and receive faxes today by going paperless. Internet faxing is one way to secure your digital files, like what eFax and other trusted online fax services offer.
- Electronic Signature
E-signature is a paperless method of signing documents sent electronically or digitally. Unlike a handwritten signature, people don’t need a physical copy to sign. Instead, they receive digital files via email or any file-sharing platform.
With the paperless signing of documents, closing deals is faster, easier, and more secure. Upon finishing the signing process, all records are sealed digitally with Public Key Infrastructure (PKI). This seal is an industry-standard technology that indicates the e-signature is valid without alteration or tampering since the signing date.
- Cloud Storage
Storing documents and file folders in bulky file cabinets is close to obsolete with cloud technology. The cloud or internet provides unlimited storage space for all digital files, including contracts, invoices, sensitive records, and more.
What makes cloud storage safe? Cloud servers are in remote warehouses. So, most people don’t have access to these servers. The files are also encrypted or scrambled in cloud storage. Hence, cybercriminals find encrypted files more difficult to access, reducing the risk of data breaches.
- Electronic Billing And Invoices
How do you handle invoices and receivables? Keeping all receipts in a secure safe or file cabinet is an excellent way to organize things, but not secured and fast enough. Paper-based billing and invoices make business workflow sluggish in this highly competitive business world. Paper invoices are vulnerable to water and fire damage too. So, why not consider e-billing and invoices?
E-billing and invoices streamline payments for small businesses, whereas medium-sized enterprises can scale business payment processes using this technology. Of course, automating payments for clients is now possible, saving so much time and effort.
You don’t have to print and mail invoices anymore. Many top vendors offer e-billing services, which provide a more intelligent and secure way to send invoices and pay bills. Choose one that’s reputable and can provide robust security features.
- Document Scanning
Scanning documents frees up your office space by storing them in one server. In this way, you can use the area for more productive activities to generate more business revenue. This paperless technology allows your business to fulfill its regulatory and legal obligations quickly.
Scanning physical documents using desktop and mobile scanning apps is also secure. You can protect scanned documents with encryption, password protection, and secure cloud storage. Also, you can set access levels to specific authorized users and track file activities in a single dashboard.
Document scanning enables you to share documents for project collaboration. This technology eliminates the need to reproduce information or document on paper. Hence, employees in different locations can access digital files simultaneously.
Companies and organizations find ways to secure their digital files when exchanging or sharing data to protect data from unauthorized access and cybercriminals. Internet faxing, e-signature, cloud storage, and other paperless technologies make digital files more secure through encryption, multi-layered security, and remote access. So, attaining a paperless business without compromising data security can bring companies and organizations to highly secure digital transformation.