The Document Management Decision — The Stats That Say “Just Do It”
Mar 28, 2018
It's no wonder that organizations are more active than ever in pursuing solutions to streamline traditional methods of managing documents. Without the assistance of document management software, organizing documents, emails, scans, electronic faxes, graphics, Internet content, etc., is frequently a manual process that is very time intensive. Essentially, a dated management style that just doesn't work in today's digital, fast-paced office environment. Add in the burden of “Big Data” and the challenge of information management is bigger than ever.
Many have simply come to the point where “enough is enough” and the decision to automate is an absolute must. While some organizations are full steam forward, some remain wavering on the fence—willing to forgo and endure. So why the wavering? Based on insight from some of our client project engagements, it seems...
- Other automation project initiatives appear more important and are easier to sponsor.
- Having enough internal resources to effectively complete/coordinate the work is a concern.
- Such a project requires too much detail and decision making to fiddle with at this time.
- The cost/benefits of document management automation are not well enough understood.
- Makes 19 copies of each document.
- Spends $20 on labor to file each document.
- Spends $250 recreating each lost document.
- Spends $120 searching for every misfiled document.
- Loses 1 out of 20 office documents.
- Recent estimates show that an average office administrator will take 12 minutes to process a single document.
- Nine of these 12 minutes are spent searching for, retrieving and re-filing the document—meaning that only three minutes are spent actually using the information they’ve found.
- EDI Group, Ltd. estimates a $1-5 savings per document after implementation.
- Gartner, Inc. estimates a 40% document-related cost reduction with document management systems.
- An IDCstudy has shown a five-year return on investment (ROI) of 404% for Document Management implementations. Half of the organizations in their study had a payback as early as six months.
Mar 28, 2018
It's no wonder that organizations are more active than ever in pursuing solutions to streamline traditional methods of managing documents. Without the assistance of document management software, organizing documents, emails, scans, electronic faxes, graphics, Internet content, etc., is frequently a manual process that is very time intensive. Essentially, a dated management style that just doesn't work in today's digital, fast-paced office environment. Add in the burden of “Big Data” and the challenge of information management is bigger than ever.
Many have simply come to the point where “enough is enough” and the decision to automate is an absolute must. While some organizations are full steam forward, some remain wavering on the fence—willing to forgo and endure. So why the wavering? Based on insight from some of our client project engagements, it seems...
- Other automation project initiatives appear more important and are easier to sponsor.
- Having enough internal resources to effectively complete/coordinate the work is a concern.
- Such a project requires too much detail and decision making to fiddle with at this time.
- The cost/benefits of document management automation are not well enough understood.
- Makes 19 copies of each document.
- Spends $20 on labor to file each document.
- Spends $250 recreating each lost document.
- Spends $120 searching for every misfiled document.
- Loses 1 out of 20 office documents.
- Recent estimates show that an average office administrator will take 12 minutes to process a single document.
- Nine of these 12 minutes are spent searching for, retrieving and re-filing the document—meaning that only three minutes are spent actually using the information they’ve found.
- EDI Group, Ltd. estimates a $1-5 savings per document after implementation.
- Gartner, Inc. estimates a 40% document-related cost reduction with document management systems.
- An IDCstudy has shown a five-year return on investment (ROI) of 404% for Document Management implementations. Half of the organizations in their study had a payback as early as six months.
