We blogged the other day about how the recession may or may not affect the document imaging industry. This morning, some hard data on the subject arrived in the form of Kodak reporting third quarter earnings.
Read the full conference call here.
Chairman and CEO Antonio Perez began by stating:
"Well, a lot has changed since we spoke during the second quarter earnings call. The growing economic crisis which started in the United States has now become global."
He continued:
"When we spoke in July...we were expecting our year-over-year digital revenue growth to be 8% in the second half. While we expect for the rest of this year to gain or maintain market share with our key product lines, as we just did in the third quarter, we are now forecasting the second half year-over-year digital revenues to decline 1 to 5%."
Full year earning projections were drastically lowered. Originally, the Rochester-based company was expecting to garner between $400 and $500 million.
Now, that number is $200 to $250 million.
A main culprit for this situation, Perez noted, was the inability of small to mid-sized business to secure short-term credit, such as are commonly used in the purchase of document imaging and scanning machines.
Still, the news for the industry was not all bad by any means. Scanner sales remained strong, giving industry boosters a reason to hope.
Thursday, October 30, 2008
Tuesday, October 28, 2008
Document Imaging Research Resource
It's not easy to find good sources of information regarding document imaging. That's part of why we run this blog. But there are some good resources available, if you're doing research and trying to discover what's right for your business.
One of the better pages I've found is on Kodak's site, right here. This is a wealth of information and, while Kodak is definitely trying to sell you something, the information itself is quite valuable.
For example, you can see the major industry breakdown of common document imaging customers:
•Real estate offices
•Doctors’ offices
•Dentists’ offices
•Legal firms
•Charities
•Municipal and town offices
•Financial advisors
•Sales and services offices
•Branch office operations
•Auto dealerships
•Community banks
•Credit unions
•County Clerks
You can also get some handy tips for the actual process of document imaging and scanning. How to maintain image quality, for example.
If you want to delve a bit deeper into document scanning technology, check out this white paper. Detailed technical information like this is not easy to come by, and worth looking into if document imaging is going to be a long-term part of your business.
Meanwhile, think about how you can use document imaging technology to increase Corporate Accountability. If you look at the common customer list above, you'll notice that many of these industries deal with highly private and sensitive documents. Once those docs are inputted into the computer, it doesn't absolve the company from responsibility to handle them with care.
If you run a small or mid-sized business, this white paper is worth reading. It talks about how document imaging technology has made its way from only being used by huge corporations to being an inexpensive solution for any size business.
Kudos to Kodak for making these materials available. Although they are offered with a slant towards Kodak's products, that does not negate their usefulness to the potential customer.
One of the better pages I've found is on Kodak's site, right here. This is a wealth of information and, while Kodak is definitely trying to sell you something, the information itself is quite valuable.
For example, you can see the major industry breakdown of common document imaging customers:
•Real estate offices
•Doctors’ offices
•Dentists’ offices
•Legal firms
•Charities
•Municipal and town offices
•Financial advisors
•Sales and services offices
•Branch office operations
•Auto dealerships
•Community banks
•Credit unions
•County Clerks
You can also get some handy tips for the actual process of document imaging and scanning. How to maintain image quality, for example.
If you want to delve a bit deeper into document scanning technology, check out this white paper. Detailed technical information like this is not easy to come by, and worth looking into if document imaging is going to be a long-term part of your business.
Meanwhile, think about how you can use document imaging technology to increase Corporate Accountability. If you look at the common customer list above, you'll notice that many of these industries deal with highly private and sensitive documents. Once those docs are inputted into the computer, it doesn't absolve the company from responsibility to handle them with care.
If you run a small or mid-sized business, this white paper is worth reading. It talks about how document imaging technology has made its way from only being used by huge corporations to being an inexpensive solution for any size business.
Kudos to Kodak for making these materials available. Although they are offered with a slant towards Kodak's products, that does not negate their usefulness to the potential customer.
Monday, October 27, 2008
Document Imaging Lowers Your Rent?
Maybe it's because I live in New York, but I think about a real estate a lot. Specifically about how dang expensive the stuff is. Prices per square foot and such.
Which brings us, albeit in a roundabout way, to the issue of filing cabinets.
The average filing cabinet is about five feet tall, two feet deep, and one foot wide. Office space in downtown Manhattan can go for upwards of $100 per square foot. So that means that each filing cabinet costs about $300 per month. And just sits there.
The problem is, filing cabinets travel in packs. If you've got one, you've probably got two, and if you've got two, you well might have ten. And if you've got ten, that's a lot of space in your office being taken up by inanimate objects.
That's room enough for another desk, another employee. Or perhaps you'll want to move to a smaller office, so as to pay less rent.
Document imaging is all about getting rid of filing cabinets. Keeping the files, but miniaturizing them into digitized bits and bytes. Over and above the "value-adds" of searchability and shareability, document imaging is the ultimate space-saver.
And sometimes, when you save space, you save money.
That's definitely true of New York.
Which brings us, albeit in a roundabout way, to the issue of filing cabinets.
The average filing cabinet is about five feet tall, two feet deep, and one foot wide. Office space in downtown Manhattan can go for upwards of $100 per square foot. So that means that each filing cabinet costs about $300 per month. And just sits there.
The problem is, filing cabinets travel in packs. If you've got one, you've probably got two, and if you've got two, you well might have ten. And if you've got ten, that's a lot of space in your office being taken up by inanimate objects.
That's room enough for another desk, another employee. Or perhaps you'll want to move to a smaller office, so as to pay less rent.
Document imaging is all about getting rid of filing cabinets. Keeping the files, but miniaturizing them into digitized bits and bytes. Over and above the "value-adds" of searchability and shareability, document imaging is the ultimate space-saver.
And sometimes, when you save space, you save money.
That's definitely true of New York.
Saturday, October 25, 2008
Document Imaging Solutions: In-House or Hosted?
When implementing a document imaging solution, one of the fundamental decisions is where to store the digitized documents. As we discuss so frequently, security and shareability should be in balance if document imaging solution is going to reach its full potential.
But this is not an easy balance to strike. Medical and legal offices are some of the prime users of digital imaging technologies, making privacy concerns especially acute.
For this reason, many businesses choose to host scanned documents on an in-house server/software configuration, such as Microsoft SharePoint. But Microsoft always has its detractors.
Fluid accessibility combined with low up-front cost is the primary promise of the "software as a service" (SaaS) crowd, led by Salesforce.com. They used to be called "Application Service Providers," or ASPs. Think of SaaS as sort of "renting" the software.
This is a good article to read if you want to get an overview of this topic.
Regardless of the vagaries of tech terminology, the idea of the SaaS crowd remains the same: the software (in this case, document imaging) is hosted on remote servers, and then beamed out over the Internet to the client. And you don't have to spend a lot up front to get the system up and running.
This model is now coming into the document imaging industry. Digitech Systems is one example of a company moving into this area, trying to sell small to mid-sized businesses on going paperless. Hyland Software is another one.
A hosted or "on demand" solution may be right for your business. But before committing, please make sure that you feel comfortable with the security procedures of the provider.
But this is not an easy balance to strike. Medical and legal offices are some of the prime users of digital imaging technologies, making privacy concerns especially acute.
For this reason, many businesses choose to host scanned documents on an in-house server/software configuration, such as Microsoft SharePoint. But Microsoft always has its detractors.
Fluid accessibility combined with low up-front cost is the primary promise of the "software as a service" (SaaS) crowd, led by Salesforce.com. They used to be called "Application Service Providers," or ASPs. Think of SaaS as sort of "renting" the software.
This is a good article to read if you want to get an overview of this topic.
Regardless of the vagaries of tech terminology, the idea of the SaaS crowd remains the same: the software (in this case, document imaging) is hosted on remote servers, and then beamed out over the Internet to the client. And you don't have to spend a lot up front to get the system up and running.
This model is now coming into the document imaging industry. Digitech Systems is one example of a company moving into this area, trying to sell small to mid-sized businesses on going paperless. Hyland Software is another one.
A hosted or "on demand" solution may be right for your business. But before committing, please make sure that you feel comfortable with the security procedures of the provider.
Friday, October 24, 2008
Document Imaging: Recession-Proof?
In honor of the recent financial calamities and in progress recession, let's talk for a second about how this turbulence may or may not affect the nascent document imaging industry. Corporations are tightening belts all across America and the world.
What can the document imaging industry do to keep growing?
1. Emphasize Cost Savings
-- Just because we're in a recession doesn't mean that companies don't want to grow. But they want to grow smart. They want to grow cheap. For document scanning and imaging, this can mean that they may want lower cost machines or service providers.
But it can also mean that they want to consolidate or centralize document management functions. For example, if a company has multiple offices, it may be willing to spend some money on a document scanning solution that enables sharing -- if other costs can thereby be eliminated, such as unnecessary faxing, copying, and filing.
The point is to address the need.
2. Emphasize Productivity Increases
-- The productivity of the American worker is the pride of this nation and the only reason our economy is not in worse shape than it is. Document scanning and imaging has become a fairly major contributor to this productivity.
This contribution must not only continue but increase. A document scanning sales pitch that convinces the business decision-maker that her staff is going to be able to concentrate on their jobs instead of tedious file-finding is convincing in this environment.
Talk about recession concerns and be ready to calculate ROI!
Challenge = Opportunity?
This recession challenge can most definitely be viewed as an opportunity for this industry. Document scanning and imaging can be a big part of cost-cutting and improving efficiency at companies struggling to maintain earnings power amid slowing sales.
If the document imaging industry does not prove, however, that it can help trim expenses while increasing productivity, the industry itself may fall victim to the cost-cutting trend.
What can the document imaging industry do to keep growing?
1. Emphasize Cost Savings
-- Just because we're in a recession doesn't mean that companies don't want to grow. But they want to grow smart. They want to grow cheap. For document scanning and imaging, this can mean that they may want lower cost machines or service providers.
But it can also mean that they want to consolidate or centralize document management functions. For example, if a company has multiple offices, it may be willing to spend some money on a document scanning solution that enables sharing -- if other costs can thereby be eliminated, such as unnecessary faxing, copying, and filing.
The point is to address the need.
2. Emphasize Productivity Increases
-- The productivity of the American worker is the pride of this nation and the only reason our economy is not in worse shape than it is. Document scanning and imaging has become a fairly major contributor to this productivity.
This contribution must not only continue but increase. A document scanning sales pitch that convinces the business decision-maker that her staff is going to be able to concentrate on their jobs instead of tedious file-finding is convincing in this environment.
Talk about recession concerns and be ready to calculate ROI!
Challenge = Opportunity?
This recession challenge can most definitely be viewed as an opportunity for this industry. Document scanning and imaging can be a big part of cost-cutting and improving efficiency at companies struggling to maintain earnings power amid slowing sales.
If the document imaging industry does not prove, however, that it can help trim expenses while increasing productivity, the industry itself may fall victim to the cost-cutting trend.
Monday, October 20, 2008
Document Imaging How To Videos
Many people think of YouTube as a site to look at when you're bored at work and want to see something home-made and off-beat, such as people getting hit in the crotch with various objects. But YouTube also has an increasingly large business use: how to videos.
Document imaging and document scanning have benefited from this trend. One video maker, called ExpertVillage.com, has a variety of document scanning how to videos posted.
Here's one on how to scan a document on an all-in-one machine.
Here's another one on how to edit blurry digital images in Adobe Photoshop.
Here's one on how to crop and edit digital images.
Other companies post their document imaging sales pitch on YouTube, showing what their products look like and how they work. Watch this guy try to sell you on why every business should use a document scanning service.
Especially if you are a visual learner, these videos can be very helpful in learning what document imaging is good for and specifically how to do certain things. They always told you that YouTube would be more than a collection of videos of people getting hit in the crotch with various objects.
Now, there's proof.
Document imaging and document scanning have benefited from this trend. One video maker, called ExpertVillage.com, has a variety of document scanning how to videos posted.
Here's one on how to scan a document on an all-in-one machine.
Here's another one on how to edit blurry digital images in Adobe Photoshop.
Here's one on how to crop and edit digital images.
Other companies post their document imaging sales pitch on YouTube, showing what their products look like and how they work. Watch this guy try to sell you on why every business should use a document scanning service.
Especially if you are a visual learner, these videos can be very helpful in learning what document imaging is good for and specifically how to do certain things. They always told you that YouTube would be more than a collection of videos of people getting hit in the crotch with various objects.
Now, there's proof.
Friday, October 17, 2008
When Document Imaging, Sharing Is Caring
We, like other people who talk about document imaging, talk a lot about how to not only reduce the amount of paper lying around the office, but make sure that going paperless increases the productivity of the organization that strives for it.
A major point of discussion in this area is how scanned documents are shared within the organization--or not shared, or partially shared, or whatnot. How to make appropriate decisions on that issue and then how to set up systems that work with those decisions. After all, the "new guy" doesn't need to be given instant access to all the company's sensitive documents.
Microsoft SharePoint is an interesting product in this respect. In typically "Microsoftean" fashion, SharePoint can do a huge number of things, but it's not easy to know what it should do for your company. Indeed, a visit to the SharePoint website can be headache-producing.
It's a product worth getting to know, though, because Microsoft has created a compelling technology which can revolutionize your company's ability to collaborate, search, and manage scanned documents. For example, SharePoint works with the other Microsoft programs such as PowerPoint, Excel, and Access.
Major corporations such as Monsanto are using this interopability to build complex systems that facilitate effective sharing of scanned documents across multiple platforms.
Some people have noted that SharePoint has not caught on yet as true business process changer, and this blog does not endorse or advertise SharePoint. However, looking at this high end product and thinking about its sharing capability can open your mind as to what you can do with scanned documents after they've been scanned.
For scanning is only the beginning of a document imaging journey.
A major point of discussion in this area is how scanned documents are shared within the organization--or not shared, or partially shared, or whatnot. How to make appropriate decisions on that issue and then how to set up systems that work with those decisions. After all, the "new guy" doesn't need to be given instant access to all the company's sensitive documents.
Microsoft SharePoint is an interesting product in this respect. In typically "Microsoftean" fashion, SharePoint can do a huge number of things, but it's not easy to know what it should do for your company. Indeed, a visit to the SharePoint website can be headache-producing.
It's a product worth getting to know, though, because Microsoft has created a compelling technology which can revolutionize your company's ability to collaborate, search, and manage scanned documents. For example, SharePoint works with the other Microsoft programs such as PowerPoint, Excel, and Access.
Major corporations such as Monsanto are using this interopability to build complex systems that facilitate effective sharing of scanned documents across multiple platforms.
Some people have noted that SharePoint has not caught on yet as true business process changer, and this blog does not endorse or advertise SharePoint. However, looking at this high end product and thinking about its sharing capability can open your mind as to what you can do with scanned documents after they've been scanned.
For scanning is only the beginning of a document imaging journey.
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