A little over a decade ago, enterprises stored vast quantities of information including dated invoices, old procedural documents, tax forms, spreadsheets and myriad other forms of physical documentation in cumbersome file cabinets. But with digitization, many of these documents have turned into data. The immediate benefits include superior organization of large archives of information, consolidation of paperwork into a single device and reduced paper consumption, which is a boon for the environment.
However, all of this efficiency does not come without a cost, and in this case, that cost takes the form of cyberthreats and fraud. Before digitization went into full swing, breaking and entering was how people stole sensitive information form organizations. Now they need only exploit bad code, or manipulate employees with a phishing scam in order to walk freely into the digital office space, and take what they want. Likewise, as more transactions are conducted digitally, fraudsters can easily pretend to be someone they are not. For all of these reasons, paper plays a significant role in a digital world, and as long as this remains the case, so will fax services.
Mortgage and rental documents
Paper is the preferred platform for a variety of transactional situations. Many real estate companies may require that rental applications be sent over via fax so they can be sure that applicants are who they say they are. This end-to-end form of transferring is far more secure than scanning a document and attaching it to the body of an email. Some real estate companies may even require that any and all rental paper work that is not signed in the presence of the property owner or manager be notarized, so as to eliminate any doubts about the legitimacy of the legal agreement.
"In some cases, email just doesn't cut it."
This is especially true for anyone who is preparing to fill out a mortgage application. The amount of authentic, verified, physical paperwork that goes into this process can be overwhelming. Proof of employment or income, proof of assets, credit history, homeowners' insurance and identify verification documents – Social Security card, prior addresses, state ID, etc. – are all required for completion of the mortgage process, according to Realtor.com. Much of this documentation can be delivered in person by the applicant, but in some cases, having the option to send this information via fax can be a huge lifesaver. this also helps the seller feel confident about the genuineness of this documentation.
From the perspective of a property owner, a large rental company or a realtor firm, internal and reliable fax solutions are especially important. Realtors may work with thousands of clients in a given year, and regularly need to review and verify sensitive documentation. In some cases, email just doesn't cut it. Should a legal tussle arise, authenticity of documentation will play an incredibly important role in any court proceedings.
Fax over IP in a hypothetical paperless world
Imagine that the world did go completely paperless, and that real estate companies, financial enterprises, government agencies, law firms and medical institutions decided in unison to digitize all documentation. Organizations would still need a compliant, end-to-end solution for data transfers. The fax machines of yesteryear that rely on thermal copies might not do the trick in this scenario; however, fax over IP would.
Unlike traditional faxing services, FoIP sends faxes over the IP network, which means that any computing device can technically become a fax machine that securely transfers encrypted data. This type of faxing can occur over a Web-based app, which is called Internet faxing, or via a company email address in the form of email fax. In both situations, FoIP acts as a direct, secure line of communication.
Digital migration of sensitive documentation may never happen in a complete way. As long as this is the case – and even if it isn't – fax services will continue to be necessary.
Enhance enterprise communication, collaboration and compliance efforts with a proven FoIP solution from FaxCore. Contact FaxCore today to learn more about their 'Partly-Cloudy' fax solutions.
