Today, many of the organizations are striving to reduce the quantity of paper used in business processes. This is particularly relevant in financial services, where paper intensive processes present challenges to meet stringent regulatory requirements for timely processing and access of documents. Going digital for financial reporting has become a global trend. With the intention to keep pace with the developments in technology, the Bureau of Internal Revenue (BIR), Philippines recently issued an amendatory regulation on the preservation of books of accounts and other accounting records. BIR had issued a revenue regulation report last year requiring taxpayers to preserve their books of accounts for a period of ten years. The period of ten years was fixed either from the deadline to file the return or, if filed after the deadline, from the date of the actual filing of the return. However, under the new revenue regulation, certain amendments have been made on the 10-year period of preservation of book of accounts and accounting records. Within the five years reckoned from the filing deadline or date of actual filing of the return, whichever is later, taxpayers now have the option to retain only an electronic copy of the books of accounts, subsidiary books and other accounting records. Thereafter, the taxpayer can retain digitally converted financial documents maintained under an Electronic Storage System (ESS). The new revenue regulations have specified various requirements for the new ESS. Features of the Proposed Electronic Storage System (ESS) * Reasonable controls to ensure the integrity, accuracy, and reliability of the system * Adequate mechanisms to prevent and detect unauthorized creation, addition, alteration, deletion or deterioration of electronically stored documents via the system * Regular evaluations of the ESS through inspection and quality assurance program * A retrieval system should be maintained by indexing the scanned documents. The indexing system should allow easy retrieval of relevant books of accounts, subsidiary ledgers, and other accounting ledgers. * The ESS should have the ability to reproduce legible and readable hard copies of the electronically stored documents It has been decided to implement the 10-year plan for the preservation of book of accounts and accounting records in two stages – hard copies for the first five years and electronic copies for the next five years. Digital preservation of accounting records is widespread. In America, the creation of the U.S. Securities and Exchange Commission (SEC), has improved the growth of financial reporting in digital format (in relation to the amount of data available, and its format has been evolving too). As per a 2013 report, about 12,000 companies submit their financial to SEC using the structured digital format XBRL and over 5,000 mutual funds submit their financial reports to the SEC digitally. Also, around 9,000 banks submit their financial statements to the Federal Deposit Insurance Corporation (FDIC) in digital format. All these figures reveal that the importance of digital conversion of financial records. Developing robust, reliable, predictable, repeatable, scalable, secure, auditable solutions is crucial to encourage digital financial reporting businesses ...read more

Electronic filing of court records has become a common practice nowadays. E-filing comprising the conversion and storage of legal documents or records in digital format is beneficial in a number of ways. A variety of federal, state and legal institutions in the U.S such as supreme courts, circuit courts, judicial courts, district courts, and county courts are moving towards or have completed e-filing of records. Most counties are enthusiastic about digitizing their vital records and Ector County is one such county that has started the e-filing of records four months before the deadline. The Supreme Court of Texas had announced that the courts should switch from paper filing system to e-filing by January 1, 2015, for civil cases. The new rules have come when Ector County is in the middle of a digital transformation. The county is entering the third year of a five-year plan for IT upgrades. The technological advancement of Ector County is not just in accepting electronic submissions of cases and filings, but also in implementing technology that will allow the clerks̢۪ offices and judges to interact digitally. The system is not as yet fully operational, as those documents cannot at present be transmitted to judges. When implemented completely, the judges will be able to digitally sign those documents and send them back. Benefits of Having an E-filing System in Courts * Having court records available on electronic database allows court staffs, judges, and even the general public to access timely, accurate, and comprehensive information. The system allows analyzing the information, checking it for consistency, and using it to prepare orders and responses. Documents can be printed and used as and when required. * Mailing court/legal documents via traditional methods is more expensive than simply sending and receiving court records through email or e-file systems. In the traditional mailing system, you may have to wait days or weeks for the documents to reach the recipients. Digitization can also help reduce the cost of storing paper documents for a long period of time. * Generating, filing, serving, and maintaining paper court documents consume a significant amount of time in law firms and clerk's offices. These records, if scanned and converted to digital format, take only half the time required for paper filing. * Prevents the need to call or go to a courthouse to access information, as the required information is available online. * The system helps in the expansion of your law business to more than one location. By this litigants and their lawyers don't have to be exclusively local and geographically isolated from other firms. The Ector County Bar Association had held a meeting to instruct lawyers, judges and clerks on the technical procedures and practices in e-filing. Moreover, the district clerks of Ector County have been asked to follow certain rules for the receiving and electronic filing of court records. A fee schedule for electronic filing is to be adopted annually by the clerk and approved by the local courts; upon receipt of an electronically transmitted document, the clerk shall check for its completeness; these and other directives issued will help to ensure that the digitization process is consistent and effective. ...read more

Traditionally, getting a crown to replace a cracked or broken tooth took several days. A model of the damaged tooth and surrounding area had to be first created with a mold and this had to be sent to dental lab to make the crown. You then got a temporary replacement until the final crown was ready, which would take a week or more. You would need to return to the dentist’s office to have the temporary removed and the new crown fitted. According to a recent Detroit Free Press report, the scenario has changed greatly in recent years - digital imaging technology has improved workflow and reduced patient wait times for tooth replacement. Technological advancements such as computer-aided design (CAD) and computer-aided manufacturing (CAM) are allowing dentists to provide their patients with crowns on the first visit. Use of CAD in Dental Offices Both dental laboratories and the dental offices are using computer-aided design for crowns as well as for inlays, onlays, veneers, fixed partial dentures, implant abutments, and other dental restorations. A digital scan is taken of the mouth using a special oral camera. These high-resolution dental digital photo images in 3-D format appear on the computer screen so that the patient can see them. The computer software then recommends the optimal dimensions of the crown based on the shape and size of the damaged tooth. The dentist prepares the digital image and sends it to the machine that produces the ceramic crown to be fixed to the patient’s tooth. This same-day crown procedure takes just about two hours. The use of CAD/CAM technology in dental practices offers benefits for both the patient and the dentist: - Allows dentists to do lab-grade restorations in their offices - Extremely precise restorations - Customized fittings - Durable individual or multiple-tooth restorations - Reduces the need for multiple office visits by the patient - Reduces patient wait time for dental restoration - Smooth workflow pattern in dental offices The advancements in technology have made the digital integration of clinical care, diagnostics and patient communication smooth and efficient. Special lasers are also being used for detecting cavities and placing filings, which eliminates the need for scalpels, drills and sutures. This reduces pain and trauma for the patient, eliminates the need for anesthesia, and ensure precise implant placement. Advanced systems have made digital image capturing much more accurate. All these advancements also aid in digitization of office records, and the creation of an efficient document management system for dental offices. Document Management System for Dental Offices In addition to dental care patient records, dental offices are moving from paper-based documents on insurance claims, walkout statements, patient education brochures, and much more. Digitizing these documents is important to maintain an efficient dental practice. Quick and easy access of records ensures a smooth workflow. Advanced document management software is available to provide a customized interface to dental care facilities. A good EMR (Electronic Medical Record)is also an efficient way of improving digitization. * The system allows marking and tagging of patient data and documentation to categorize, index, and preserve specific notes and records. * The software allows easy digitization and indexing as it supports the process of document scanning, emailing, or faxing of information. * Documents can be automatically sorted and organized in proper locations. * All details regarding a particular patient such as insurance, medical, allergenic and radiology documentation are filed for easy access and retrieval. Dental offices can implement a web-based document management system or an in-house document management system. Assigning the task to a document management company is the best option when it comes to a customized, affordable solution. ...read more