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Document Imaging - What is it?
 What Is Document Imaging?
Document imaging is the conversion of paper documents into electronic images on your computer. Once on your desktop or network, these documents can be retrieved effortlessly in seconds. Every organization generates large amounts of paper and electronic documents. Although organizations develop methods of organization for important documents, files continue to get misplaced, lost or even destroyed.
Everyone knows the frustration of not being able to find a file when you need it most.
Traditional methods of storing paper and electronic records require a great deal of effort to manage, distribute and find. As the number of files grows, the time and effort required to manage them increases accordingly.
Document imaging revolutionizes the management of information and provides the ability to rapidly find, retrieve and share all documents in your system. Document imaging systems for the financial services industry should have seven basic components:
• Capture tools bring documents into the system
• Methods for archiving and storing documents
• Conform to compliance requirements
• Indexing systems to organize documents
• Retrieval tools to find documents
• Acc ess control to provide documents to authorized people
• Disaster recovery
Internet usage has grown exponentially due to the vast amounts of information it provides access to. Similarly, document imaging systems prove to be tremendously valuable because they provide fast access to the information within your important documents. Document imaging leverages the value of paper documents. Files are scanned or electronically converted and a high-resolution image is saved on any storage media. Electronic index cards can attach information to a document such as Client Name, Representative Name, Fund Company Name, Type of Account and/or Reference number. Files can still be viewed, printed, shared and stored, but imaging adds an enormous advantage by giving documents active content.
No longer just ink on a page, document text is "read" by optical character recognition (OCR) technology. Any imaging system should allow you to retrieve files by searching for any word or phrase in the text, by folder location or by index card information. The very best systems will allow you to find documents using a combination of all three methods. A document imaging system should also let you determine who has access to documents and what actions they can perform.
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