How to Get Value from End of Year Funds
Is it ever too early to think about end of year funds? If you’ve done this dance before you know that increasing project loads and resources that often stay flat leave many agencies scrambling to spend their budgets as the fiscal year comes to a close. This results in hasty decisions that can lead to either under-funded projects or ill advised projects – neither of which ultimately deliver value that moves your agency forward.
We often see digitization projects come up during the year that are put on hold for reasons tied to the key myths about going digital. Missing out on these projects in the normal budgeting cycle doesn’t mean you can’t take some of them on with end of year funds to deliver meaningful results.
Why digitization projects?
Digitization projects can create immense value for your organization, especially with the right approach. These projects unlock opportunities for automation, collaboration, and the efficiencies of integrated content, systems, and processes. They strengthen compliance, make audits simpler, and empower people to get more done. Most importantly, digitization projects can come in many different sizes and shapes. Perhaps you have a file room full of boxes of employees files when you really need office space for your new employees. Or perhaps there is a paper-based workflow that is simply slowing your team down. The point is they can make an impact even at a smaller scale.
How do I identify the right project?
Large digitization projects can be daunting – where do you start, how do you ensure success? The better approach when thinking about constrained budgets is to break down large digitization projects into smaller phases. This approach can create lasting value very quickly for your organization. This phased approach has many benefits including:
- Getting up and running faster
- Lower costs to fund a phase
- Low risk decision
- Quick success can help build a strong case for additional project phases
Image API has helped many organizations like Florida’s Department of Health put a phased plan in place. With a thoughtful strategy around a phased approach to your large digitization projects you’ve created a low-risk, high value plan for your end of year funds.
How do I choose a partner?
This end of year scramble adds risk to any project since the scoping and planning timeline is condensed. There is a strong urge to make the most of funds by looking to the lowest cost vendor. But often the lowest cost vendor is not always the one who will help you create value for your organization. That’s why it is important to choose a partner that has proven experience working with agencies like yours. Many vendors view digitization as merely scanning paper and not as a strategic transformational process. Digitizing paper and paper-based processes take strategic planning, specialized technology, protocols, resources, and expertise so look for an experienced partner who will work collaboratively with your internal team.
Use your EOY funds for something more strategic
Going digital means far more than just going paperless, freeing up office storage space and enabling online document access. When done well it impacts cost, efficiency, and service delivery, creates immense value for your agency. With thoughtful implementation and planning, the impact of digitization is far-reaching. With the right partner your EOY funds can create lasting value for your organization.
Reach out today to learn how Image API can be a partner in your digital transformation and help you create lasting value from your digitization projects.