Do office employees spend time reviewing, indexing, and storing documents on Network Shares and local PCs (in minutes)?
Does your company have filing cabinets on-site?
Do office employees search for, retrieve, and return documents from on-site filing cabinets?
Does your company have off-site storage for paper documentation?
Do you have documents at off-site storage which require employees to travel to search for, retrieve, and return documents?
Consider the following when calculating ROI with Document Management Systems:
Reduction in time spent locating and retrieving documents
Reduction in time spent filing
Reduction in copying
Reduction in off-site storage costs
Reduction in on-site storage costs
Reduction in overnight shipping expenses
IDC has estimated that the typical enterprise with 1,000 knowledge workers wastes $2.5 million to $3.5 million per year searching for nonexistent information, failing to find existing information, or recreating information that can't be found. (Source: IDC)
BAE Systems conducted a study that discovered that 80% of employees waste an average of half an hour per day retrieving information, while 60% are spending an hour or more duplicating the work of others. (Source: "Show me the Money, Measuring the Return on KM" Knowledge Management)
Additional statistics from Coopers & Lybrand supporting the need for document management (Source: Imersion Technologies, Inc.)
90% of corporate memory exists on paper.
Of all the pages that get handled each day in the average office, 90% are merely shuffled.
The average document gets copied 19 times.
Companies spend $20 in labor to file a document, $120 in labor to find a misfiled document, and $220 in labor to reproduce a lost document.
7.5% of all documents get lost, 3% of the remainder get misfiled.
There are over 4 trillion paper documents in the U.S. alone - growing at a rate of 22% per year.
In a study by Nucleus Research, 86 percent of companies that invested in document management systems cited increased productivity and the average participant reduced document retrieval time by 52% with their solution.
Amount of money savings you will achieve if reduce the errors and inefficiencies in retrieving and searching of documents by the amount indicated in D52.
Amount of money savings you will achieve if you can reduce the number of documents held in on-site filing cabinets by the amount indicated in D54.
Amount of money savings you will achieve if you can reduce the number of documents held in off-site filing cabinets by the amount indicated in D55.
This is how long it will take for Document Assistant to pay for itself.