the future of faxing

What Will the Future of Faxing Hold for Businesses in 2024?

Fax machines are no longer as relevant as they were a few decades ago. However, sending a document by fax is far from obsolete. On the contrary, the future of faxing looks bright as businesses turn to modern methods such as online faxing. In fact, the number of fax transmissions continues to increase each year.

Let’s explore how businesses can benefit from today’s digital fax solutions.

What Will the Future of Faxing Hold for Businesses in 2023

Is Faxing Going Away?

Faxing isn’t going away anytime soon. While it is true that fax machines are no longer the only option for businesses, they are still relevant and valuable tools. Countries like Japan still regard fax machines as vital for business communication.

Plus, this communication method has evolved to meet the needs of modern enterprises. It remains an irreplaceable technology for businesses seeking to secure the delivery of essential documents.

An article from EnterpriseAppsToday also cited a forecast stating that the fax machine market will reach $1.88 billion by 2032.  

This optimistic view is due to several factors, such as the fact that, despite the digital alternatives, top manufacturers will continue to find ways to innovate and adapt to the evolving needs of the fax market.

Which Industries Still Prefer Fax?

People will continue to fax as long as it remains a secure way to transmit sensitive information. It is especially prevalent in the following sectors.

Healthcare

Despite efforts to completely transition to EHRs and other digital health systems, many healthcare institutions continue to rely on fax machines to transmit health documents. Compliance with the Health Insurance Portability and Accountability Act (HIPAA) is the primary reason why the healthcare industry still relies on this technology. It provides a familiar and relatively secure way to send and receive protected health information (PHI).

Legal

Law firms and government offices still use faxing to send official documents. Examples include contracts, government forms, and public records from courthouses. It is a secure and efficient way to deliver paperwork, which must be in its original form when received.

Finance

Fax is considered the most secure way to deliver time-sensitive information, such as billing statements, account details, and transaction history. The Gramm-Leach-Bliley Act (GLBA) requires financial companies to ensure the confidentiality of customer information. Faxing helps these companies comply with the law by encrypting transmitted data.

Manufacturing

Manufacturers use fax to send invoices, purchase orders, quote requests, and other paperwork. Transmitting these types of data through fax helps companies ensure that the intended recipient receives the information without unauthorized changes.

Real estate

Realtors deal with many documents, including deeds, mortgages, lease agreements, and contracts. Faxing provides a quick and easy way to send these documents without resorting to in-person delivery and other traditional means.

What Will Replace Fax Machines?

The fax machine has been a business staple for over a hundred years. With the advent of the internet, however, many predicted the demise of faxing. This was due to the widespread use of email and the rise of digital document formats like PDFs. They continue to provide a more efficient and user-friendly way to send documents than using a physical fax machine.

Even though email has become the primary means of communication, fax remains a reliable and secure way to deliver important documents.

What Will the Future of Faxing Hold for Businesses in 2024?

Why Fax When There Is Email?

It’s tempting to dismiss faxing in favor of email. Keep in mind that while sending an email is convenient, most email services do not use end-to-end encryption.

Email might be the most popular tool for business communication, but faxing is a far better choice if you wish to send confidential documents. Online fax services like iFax use the highest level of encryption to protect the most sensitive information.

Why not have the best of both worlds? You can enjoy the benefits of both communication methods when you use email to fax. This feature allows businesses to fax directly from email accounts like Gmail or Outlook.

What Are the Benefits of Online Faxing?

The most recent office-printing statistics reveal that companies spend 1% to 3% of their revenue on printing alone. This can also lead to a decrease in business revenue by up to 14%.

In contrast, online faxing is cost-effective and offers a myriad of benefits. Today’s businesses can use online fax services to streamline their communications and stay connected with their clients and partners. Here are its top advantages:

Convenience

Digital faxing eliminates the need for a physical fax machine. It offers location independence, allowing users to send and receive faxes anywhere in the world at any time. You can access your account from most devices, including your laptop, smartphone, and tablet.

Security

Online fax services, such as iFax, store your documents in a secure, cloud-based platform that only authorized personnel can access. They are also encrypted during transmission, ensuring your information is safe from prying eyes.

Compliance

Digital faxing can help businesses comply with industry-specific regulations, such as HIPAA and the GLBA. These services help enterprises protect customer information. You also need to ensure that the service you choose adheres to local laws and international standards.

Cost-effective

Say goodbye to costly paper, ink, or toner. You also don’t need a physical fax machine, which can be a significant expense due to the setup and maintenance costs. Plus, you can save on fees when faxing to recipients abroad.

What Will the Future of Faxing Hold for Businesses in 2024?

Experience the Future of Faxing Through iFax

With our online faxing service, you can:

Guarantee secure document transmission

One of the best reasons to rely on iFax is that you can ensure compliance with industry regulations like HIPAA and GLBA. We also use military-grade encryption to secure all inbound and outbound transmissions.

Integrate iFax with third-party software

You can connect iFax with productivity tools, document management systems, and cloud storage. This way, you don’t have to switch between platforms and disrupt your workflow.

Fax using multiple devices

Stay connected and productive, even when you’re on the go. We offer an app that is compatible with Windows, Mac, Android, and iOS. You can use it on your desktop, laptop, mobile phone, or tablet.

Our app automatically syncs documents and numbers across all your devices, ensuring data consistency and efficiency. All it takes is a few seconds to back up your files to Google DriveOneDrive, and Dropbox.

The future of faxing is not fax machines but online fax. With iFax, your business can seamlessly transition towards a secure and reliable digital faxing solution.

Request a free demo or sign up for a trial plan.

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