Document tracking is emerging as a burgeoning growth market for RFID technology, as law firms and other paper-intensive industries seek to tag documents to provide real-time visibility into document management programs.
Randy Stigall, business development manager at SMARTRAC, says that the market for document tracking could reach five billion tags in the U.S. alone. “The U.S. is the most litigious country in the world,” says Stigall, “so it represents a very large potential in this market.”
SMARTRAC, FEIG Electronics and RFIDTraxx are behind a new RFID offering designed to provide comprehensive document management through intelligent tracking.
The solution is currently being rolled out at a pilot location in the U.S., and is unique in that it allows users to not only track document folders, but the documents included within each folder.
“We have found that at any given time, five percent of files are misfiled or misplaced,” says Joe Lemieux, a founder and partner at RFIDTraxx. “Most people are aware that they spend time looking for missing and mislaid documents, but there is no record of the time and effort expended; it is just part of the job.”
While managed access to important pieces of paper is essential for business workflow, companies often face major challenges finding proper and reliable solutions. Failing to comply could cause fines, the loss of business, or damage to a business’s reputation.
By using RFID to track documents, businesses can perform full audits in just a few minutes instead of days or weeks. Once a document is added to the system, an audit trail is created that shows not only the real time location, but also creates alerts, when its location has changed.
The solution is based on SMARTRAC’s BLOCK or BAND RFID tag with ISO 18000-3 Mode 3 compliant ICs, which carries all required information about the document. The tag allows swift identification of stacked items and contains a unique identification number enabling secure and reliable identification of documents.
The FEIG reader can read more than two hundred tagged documents in a stack. AssetTraxx software, a web based SQL Server solution from RFIDTraxx, allows the solution to be customized to specific requirements allowing easy integration into existing systems and automatically tracks all required documents.
Document tracking is certainly not new. In 2012, Recall, a provider of document storage and data protection services, announced that it had tagged more than 25 million cartons worldwide. However, the new solution allows tracking to the individual document level.
“SMARTRAC as the global leader in RFID technology is happy to provide a strong contribution to achieving maximum transparency in the document management process,” says Stigall. “Since the number of documents probably doubles every 50 years, there will certainly be a rising demand for document tracking in the future.”