The Challenge - Durable medium vs electronic document management system
Swift increase in digital solutions across the globe is a fact. From financial services, through insurance to telecommunications, customers like the convenience of digital communications. But going truly paperless comes along with some challenges. Customers must be informed of everything - from policy changes to interest rate notices and payment schedules - on paper or other durable medium. For digital communications, this usually means companies need to ensure:
- Original documents can’t be changed or deleted
- Changes to active customer documents and contracts can be published at the appropriate point in time
- Individuals can access their documents in the future even if they are no longer customers
