Increasing efficiency is almost always the most convincing reason for investing money in any business project. However, when it comes to investing in a document management solution, increased efficiency is anticipated, but return on investment is expected. We’ve previously discussed in some detail how to calculate the ROI of a DMS. Comparing annual storage costs and personnel costs are one way of computing expected ROI. It’s also possible to calculate savings and payoff time frame with electronic systems.
We can all crunch the quantifiable, bottom-line numbers and predict the potential savings of using a DMS. Truth is that once the system is in place, it’s not long before the positive impacts become evident without even looking at numbers. Here are several of the most profound changes a document management solution will have on your company…
Daily storage and supply costs are cut drastically. Add up the overhead associated with document storage, supplies, printers, faxes, cartridges, and paper. The elimination of these business expenses has a seriously positive impact on business efficiency and cost saving.
Workplace productivity soars with electronic systems. Consider the amount of time it takes to locate a document, make copies, distribute and re-file. Then think about how many times that process is repeated throughout the course of a day. Hardcopy methods for these daily tasks are infused with errors, and they’re time-consuming. Research has shown that nearly a quarter of the workday is spent repeating these tedious processes.
Electronic data is inherently safer than hardcopies that anyone in the building can access. Maintaining security and confidentiality is a main advantage of a DMS. The built in disaster recovery solution is also an added bonus. It’s important to realize that the restoration in recovering data from a hardcopy environment costs significantly more than the base investment of the system itself.
There are numerous intangible benefits of a paperless office. Consider the special features and advanced solutions that are part of an electronic system. These tools streamline data-sharing tasks and eliminate the bottlenecks that develop when dealing with paper copies. They enhance workplace collaboration and knowledge sharing. The benefits of investing in a DMS aren’t just evident to the business. Your customers are sure to see an improvement in customer service as well.
For more information on calculating ROI or to take advantage of our free paperless office trial, contact ILM today!