Our firm, a third-party pension administration company, pondered a long time about the ever growing problems of our increasing need for storage space. Having to comply with state and federal mandates regarding the amount of time records are to be kept as well as new government-mandated laws and procedures have increased our paperwork requirements many times over with the result of even more paper to be stored.
Finally after years of acquiring more and more storage space, we were ready to do something. EDI, a Digital Imaging Company, was recommended to us. We met with their representatives and were enlightened as to the potential for much savings. Not only was storage space to become considerably less an issue, but our use of copy paper was almost cut in half reducing our copy expense proportionately.
To be sure, we still have a considerable amount of paper but we can reduce a great deal of it by imaging documents. The imaging procedure is simple. By systemizing the procedure, a document can immediately be brought to the screen, observed, copied, faxed or emailed almost automatically. The time saved by being able to bring up to the screen a partial page saves valuable time. It is much easier to scan through the pages than it is to thumb through a paper file.
We have had the system now for close to two years with no major problems. Our staff members have been instructed on the use of the equipment.
The finished reports are scanned after they have been reviewed and mailed out. We have a backup on the computer itself as well as two backup disks. We have scanned several years worth of prior work so that it would not be necessary to put these reports in storage.
EDI has always been readily available both by phone and in person should we need them. To date that has been seldom. Their training was excellent and the equipment has been reliable. It has been a pleasure to do business with this association. We would highly recommend EDI’s paperless procedures and for EDI to put it together for any company.
Sincerely,
Robert Stedge, President
Capitaland Pension Services, Inc.
68 St. James Street,
Kingston, NY 12401-4550