Faxing is a fixture of many industries—healthcare, legal, financial, government, manufacturing. It is a technology that persists…because it does the job required.
Fax satisfies requirements for security, regulatory compliance, legal need, or simply as a lowest common denominator for communications interoperability. In healthcare for example, not every electronic health record (EHR) system plays well with others. With faxing, you can always print something in one program, sign it or annotate it, and fax it knowing it will have legal weight and readability.
Faxmaker saves us a ton of money.
A 2020 survey by TechGenix found that the majority of fax users are “light users”—less than 20 pages sent or received per week. However, 20 percent of those surveyed were heavy users, with 100+ pages in transmission weekly. Surprisingly, one-fifth of those heavy fax users were still using paper fax machines.
A recent GFI FaxMaker customer case study from a US-based financial services company (M-Livingston) demonstrates the return on investment from digital faxing over traditional, paper-based fax machines.
“We send roughly 80,000 faxes a year,” the IT Director for the financial services company said. “The way we have our phone system set up and our ISP, FaxMaker saves us a ton of money.”
That volume—80,000 faxes—translates to over 6,500 faxes per month, which likely means at least 15,000 pages in transmission per month. Cloud-faxing is priced per page. Even with volume discounts this would mean thousands of dollars in faxing costs.
Beyond the cost savings for a heavy fax user, digital faxing enables organizations to address regulatory compliance. “We use the solution to meet compliance or regulatory requirements indirectly because of the nature of our business. We have to be HIPAA compliant and we have to be ISO compliant, we have to be compliant with New York law, and we have to meet certain ANSI standards,” the IT Director says.
It increased productivity.
Digital faxing also means savings in personnel and resource costs for the finance company.
“The nature of our business at one time was to get up, go to a filing cabinet, grab a file folder, and manually fax it. If we look back to the day where we were still using filing cabinets and compare it to using this, it probably saves us 20 minutes per file that we’ve worked on during the course of a day. It increased productivity, so instead of handling something like six files a day, we’re now handling upwards of 30 files a day.”
This value is backed up by findings in the TechGenix fax survey data. “Time-consuming” was a common issue for faxing companies. It was the main problem for heavy fax users and healthcare organizations, especially those still using traditional fax machines.
Interestingly, “Security” was NOT an issue that fax users selected as a common problem, even though it is now a pressing issue for most SMB companies. This supports the value proposition of why people continue to fax—the technology’s inherent protection against hacking.
Faxing as a communication means is not going away any time soon. The TechGenix study shows that half of the heavy fax users expected an increase in their amount of faxing for 2021.
“Our business requires us to have a place where documentation can be received, and faxing fits that mold,” the Financial services company says.
For heavy fax users, many still with paper-based technology, digital faxing represents an easy win for cost savings and ROI.
Learn more about digital faxing from GFI.