Human error could potentially cost UK businesses up to €20 million, warn researchers
Over three-quarters (76%) of British businesses say that a proportion of inbound mail and communications is incorrectly allocated due to physical handling, creating an environment that can potentially put personal data at risk.
With the implementation of the GDPR less than 2 weeks away, businesses processing sensitive personal data are at risk of facing potential fines of up €20 million, or 4% of their annual global turnover.
Leading enterprise Information Management company EDM Group surveyed 210 organisations to gauge how digital mailroom reduces the risk of human error in business processes. EDM Group’s digital mailroom turns analogue, inbound information into true data that can be analysed and captured securely in real time. This can assist in complying with data protection laws such as the GDPR, mitigating the risk of human error by automating previously manual and mundane processes.
The findings revealed that 39% of organisations have experienced a negative impact on their performance or reputation as a result of mishandled mail, and only 16% of companies admitted that they always meet their mail service level. While human error in the mailroom increases risk of breaching GDPR, 81% of businesses have not adopted a digital mailroom.
EDM Group improved organisational efficiency for HM Revenue & Customs (HMRC), who receive over 70 million mail items and send out 200 million outsourced items a year. By streamlining HMRC’s inbound data handling, both customer service and care of valuable and sensitive documents were significantly improved.
Digital mailroom ensures the high risk associated with human error and vulnerable documents are eliminated with comprehensive audit trails, automatic document retention strategies, and enforced adherence to compliance rules. This allows businesses to capture, store, process and handle critical information the most efficient way.