Your iPhone's got a great camera, and it also has a really killer processor. Put those two things in the hands of the smart folks at Smile, and they turn out an app that will use the camera to scan documents and the processor to perform optical character recognition (OCR) on the text contained therein. The result can be a PDF with real text, not just a picture, or the raw text itself for you to edit.
Not only does this allow you to take pictures and turn them into PDFs, but it helps reduce the file-size, too, because the graphical representation of the text (large data) is turned into just text (small data) all right there on your iPhone. And that's not even counting the fact that you can edit that stuff.
For editing you can export or copy the raw text out of the scan and edit wherever you like, or you can pair this up with Smile's great PDFpen for iPad or PDFpen for iPhone and use either of those apps to edit the text right inside the format of the original scan itself.
The possibilities are endless. Imagine scanning your receipt as soon as you finish lunch, an article in the waiting room at the doctor's office, or a document at a meeting and then it's there in your iPhone or iPad, ready for you to to do whatever you wish.
They're offering this Universal app at the introductory price of just US$4.99 in the App Store. Check it out. I think you'll be glad you did!