Based on Statista’s projections, the global spend on digital transformation is expected to reach $3.4 trillion by 2026! This simply points that digital transformation is on the roadmap of all businesses. In the workplace it is about more than just the technology—it’s about reshaping the culture, driving productivity, and empowering enterprises to work smarter, faster, and more collaboratively.
This shift can be seen even with document management. As businesses adapt to a more tech-savvy world, AI-powered document digitization is helping drive a transformation in how organizations operate, streamline workflows, and ultimately, redefine the workforce of the future.
Changing Workplace Trends: Digital-First Document Management
The workplace has become increasingly digitized, moving away from paper-based processes toward digital-first strategies. Did you know that organizations that only use manual documentation risk losing 44% of their customers and 51% of their revenue?! It is no wonder that 74% of organizations consider digital transformation a top priority. In fact, 74% of organizations prioritize digital transformation over cybersecurity and cloud implementation!
With 97% of companies crediting the COVID-19 pandemic for speeding up their digital transformation initiatives, an impressive 89%of companies have already adopted a digital-first business strategy or are planning to do so soon.
According to a survey, around 6 out of 10 sales departments have transitioned to fully digital documentation processes. Another similar survey revealed that 62% of sales departments, 57% of marketing departments, and 53% of finance departments have fully transitioned to digital documentation.
This change is driven by the need for agility, remote accessibility, and streamlined data processing. For industries like healthcare, legal, and finance that rely on handling a high volume of documents, digital document management is essential for keeping up with rising demands. AI-powered document digitization has introduced a solution to this growing need, replacing paper files and manual data entry with sophisticated, automated workflows.
AI & Agility: Building a Workforce Fit for the Future
As the world embraces a work-from-home culture and remote employment continues to rise, AI become essential in shaping an agile workforce fit for the future. In the post-pandemic world, 38% of men and 30% of women work remotely full-time. By 2025, it is estimated that around 32.6 million Americans will be working remotely.
According to statistics, 4 out of 5 employees use their mobile devices to access documents like contracts, workflows, blueprints, and other agreements necessary to perform their jobs. This PDF trend is gaining more and more traction as the workforce shifts to remote work, making digital document management essential for everyday operations. A survey on workplace habits revealed that 51% of employees from age 18–34, and 57% of employees aged 35–44 would consider leaving their job if their company didn’t have an efficient way to access necessary records.
Apart from enhancing productivity, AI-powered tools foster seamless collaboration through advanced communication platforms and smart project management systems to ensure remote teams stay connected and aligned regardless of their location. This cutting-edge technology empowers organizations to build resilient, forward-thinking workforces that thrive in a distributed work environment defined by a rapidly changing digital and socio-economic landscape. So, it comes as no surprise that 41% of organizations are going fully digital to improve agility and resiliency.
Less Work, More Impact: How Digitization Drives Productivity
AI also plays a fundamental role in digital transformation by enabling speedier, more correct document processing. Did you know that employees can lose up to 25% of their productivity due to document problems? A major advantage of document digitization using AI is the drastic reduction in manual labour. Automation reduces the amount of manual data entry work by 80% decreasing the margin for error and speeding up the process significantly. Businesses can expect to save 60-90% in processing time per document!
Apart from being time-consuming and error-prone, traditional document handling can also be very inefficient. AI-powered tools, however, can quickly scan, interpret, and store documents digitally, with impressive accuracy rates. Through machine learning and natural language processing (NLP), AI-based document solutions can understand context, extract relevant data, and categorize information with minimal human intervention. According to the Association for Intelligent Information Management (AIIM), AI can improve the accuracy of document digitization by 95% by improving upon the data capture accuracy of OCR and learning from user patterns over time. Typically, automated data entry boasts an accuracy rate of 99.959% to 99.99% compared to the accuracy rate for human data entry ranges which falls between 96% to 99%. This means that for 10,000 data entries, automated systems would make between 1 and 4.1 errors, while humans would commit between 100 and 400 errors. Now, that is quite a difference!
Employing AI tools for document digitization in the workforce also means that employees are less bogged down by repetitive tasks. While AI handles the routine processes, they’re able to shift focus from manual data entry or document retrieval to higher-value tasks. This increased productivity is not only valuable for day-to-day operations but also for empowering employees. As teams embrace AI-based document solutions, they can refocus on roles that engage creativity and critical thinking—skills that are incompatible with automation.
Shaping the Future of Work with Felix Solutions
Felix Solutions helps companies to optimize their document policies through Artificial Intelligence, Machine Learning and Natural Language Processing, this being known as Document Intelligence solutions. The accuracy of such solutions in pulling information/data from unstructured letters and bulk document images is approximately 99%. This guarantees the companies a number of benefits such as automation of document-centric processes and enhancing efficiency and effectiveness of their routines. There are also specific solutions to automating invoicing, contracts creation and management, and even healthcare claims management and submission specifically for modern users’ demands. This also facilitates automation of various repetitive tasks allowing employees to engage in more complex value-adding activities. There are various business needs including invoicing, contract management, and healthcare claims processing which can be done more efficiently by Felix Solutions’ automated systems to improve client experience, operational performance and fasten business dynamics.
As the process of document digitization with AI continues to evolve, it is creating a more competent and flexible workforce that is adaptable to the anticipated needs of the market. AI reducing manual work and pushing more work gets done even at new levels to deliver growth is something most would describe as ‘out of this world’.