Oce Business Services Shares Recommendations to Help Law Firms
Press release from the issuing company
CHICAGO, Aug. 29 -- Oce, a global leader in digital document management and delivery solutions, today shared solution recommendations to address three key document and records management challenges faced by law firms: reducing and controlling document costs, records security, and digitizing and automating files.
Oce Business Services, a unit of Oce, has a history of over 25 years of providing innovative document management solutions for law firms. The company currently serves 30 firms listed on the Am Law 100 and Am Law 200. The Am Law lists are compiled annually by American Lawyer Media of the top U.S. law firms ranked according to gross revenue. Oce Business Services delivers best practice solutions that transform organizations into digital workplaces. These solutions enable the company's law firm clients to better meet the latest compliance requirements while maximizing efficiency and reducing overall costs.
Oce Business Services provides the following recommendations to help law firms address three current document and records management issues:
Rising Document Management Costs
Law firms are faced with the dual dilemma of controlling ever-rising document management costs as well as managing an increasing number of documents. Efficiencies in document management can be realized by applying best practices to each stage of the document lifecycle, from creation through printing, archiving and ultimate destruction.
Many law firms are improving document efficiency through the outsourcing of document and records management to professional specialists. Experienced document and records management vendors can capably assess a firm's needs as well as implement proven processes and solutions to increase efficiency and reduce expenses by as much as 30 percent.
Industry studies have shown that for law firms, documents are produced and repurposed an average of 19 times throughout their lifecycle. While it may seem contradictory, firms can turn to an experienced outsourcing vendor that provides on-site professionals to mitigate risk and maintain document security through a comprehensive records management program. An outsourcing vendor can apply proven best practices to the development and management of a tailored records program utilizing advanced technology and highly trained on-site personnel. Through this program, the on-site staff maintains the security of each file during activities such as copying, digitizing, faxing, and e-mailing that enable the firm to remain focused on its core functions.
With up to 20 percent of files lost at any given time, the efficient management of files is a business imperative for law firms. Industry studies have shown that the direct benefits of digitizing files include an up to 40 percent reduction in overall file room costs, as much as 25 to 50 percent less file storage space required and the ability to reduce labor costs by 20 to 25 percent. In addition, nearly 75 percent of courts nationwide now accept digital submissions in a standardized format.
Led by compliance expectations, a clear case is being made for automated filing systems that are steering the industry toward a reduced or ultimately, even a paperless legal environment. This movement requires that many existing documents, especially those only available in a paper-based format, be converted into digital files. An outsourcing vendor with deep expertise in imaging and document conversion will not only use the latest in scanning technology, but also provide on-site staff to take charge of the initiative, and instill best practices and techniques for ongoing file management.
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