Loss Reduction and Productivity
New studies show that workers waste an average of four hours each week looking for misplaced or missing paperwork.
Losing £7 per hour means losing £28 per worker each week at the current wage rate.
While £28 may not seem like much, the true Return on Investment (ROI) of a Document Management System becomes clear when all employees are considered and annual losses are calculated.
Although it’s something nearly every company does, photocopying is sometimes overlooked as a waste of resources.
Companies sometimes Xerox hundreds or even thousands of pages per day without giving much thought to the financial impact.
As an example, let’s pretend a brand new business needs to copy twenty-five (25) legal-sized pages per day. This may not seem like much at first, but it adds up to 6,000 photocopies every year.
Improved Resource Allocation
In many companies, the funds used for photocopying may be better allocated.
Such funds could be used, for instance, to implement strategies aimed at attracting new customers.
By eliminating the need for photocopies, for instance, a Document Imaging System’s cost-effectiveness becomes immediately apparent.
Because it allows paperwork to be scanned in as soon as it is delivered to the office
After then, numerous persons from different locations can access the same document at once.
When a company has a dependable Document and File Management System in place, they save both time and money by no longer having to worry about the following.
Making many copies and disseminating them locally, regionally, nationally, and internationally
Reducing the Expense of Managing Paper Documents
The upfront costs associated with Document Imaging are sometimes cited as a major deterrent by small enterprises.
However, in most circumstances, the savings made in the first 18 months will more than cover the acquisition costs of not just the Document Imaging System, but also any supplementary:
It Includes: – Hardware – Setup – Instruction
After that, they’ll keep putting away more and more money every year.
Indeed, this is the case even if the company simply invests a small sum in conventional methods.
More Cost-Cutting Through Efficient Document Management
You should inquire with your provider about the existence of a professional bundle if you believe you require one, as several Document Imaging Specialists offer Small Business Packages.
Less efficient than outright purchasing, leasing allows SMEs to gradually add Document Management to their IT infrastructure over time.
This makes Electronic Document Management accessible to small enterprises without the need for a large upfront investment. This allows for the acquisition of Document Management systems to be funded from existing office supply and/or general operating funds.
Space and Its Importance
At the moment, “I’m paying an outrageous amount of money only to jam up my workplace with filing cabinets and getting nothing but a sensation of claustrophobia in exchange”
When was the last time you measured how much room your filing cabinets were taking up in your office?
If you could make some room that is now occupied by:
A place to keep lever arch files is in a filing cabinet or storage box.
Do you think you could make use of the additional room?
Would you find less stress in a setting that was less busy and intense? In that case, wouldn’t it also be more favourable to productivity?
Rather than just guessing, why not take a moment to figure out how much time and money you’re actually spending on filing and archiving?
Perhaps, like many other companies, you will be surprised to learn just how much money the conventional filing method is costing you.
However much you end up allocating, the system is not likely to offer complete protection from the following.
Theft, Flood, Fire, and Other Natural Disasters
The price tag for this level of calm is steep.
However, using Document Imaging Systems, archiving 20,000 documents (with complete security) costs less than £1.
That’s about how much it will set you back for 1 GB of storage in your Virtual Cabinet.
With the ever-increasing capacity and decreasing cost of digital storage,
The value of investments in document and file management systems tends to increase with time, unlike the value of investments in most other types of solutions.
Although difficult to quantify, the additional benefits that come with using a online electronic file electronic system document management undoubtedly aid in the expansion and development of a company.
Documents stored in an online file electronic system document management can be retrieved in a matter of seconds, making it possible to outpace even the most well-organized and efficient paper-based document management systems.
a filing system that relies solely on human effort
This makes it extremely unlikely that a document will be misplaced or misfiled in an electronic system, as many document management systems now include Advanced Search as a standard feature.
When used together, these advantages help establish workplaces that are both competent and productive.
Employees may quickly access the necessary documentation (whether it has been received via mail, email, or fax) and respond to inquiries from clients and customers in real time.
When it comes to customer service, organisations that have invested in Document Management tend to excel at providing their clients with the best possible experience.
Customer Happiness, Loyalty, and Repeat Purchases