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Raise Your ROI with Five Document Management Changes

1 min read

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Dan Rickert

Is foot dragging on document management pulling down your bottom line? This could be a great time to get out the magnifying glass and find the ROI ‘paper drag’ inside your organization. Even a few small adjustments can create new opportunities to save costs and grow your business.

More effective document management can:

1. Reduce labor costs associated with document retrieval. 

Lost or hard to find documents can add up to big losses in productivity. A Harris Interactive survey shows 83% of knowledge workers say they are losing or wasting time daily on document collaboration issues that include: not being able to find files, working on the correct version of the document, or having to manually merge changes. Seamless digital teamwork saves business costs by connecting every department and simplifying how employees edit, share, review, sign or track documents.

2. Reduce floor storage space costs.

Most businesses could use more room to grow. PricewaterhouseCoopers research shows that one three drawer file cabinet can cost about $300, hold 9,000 pages of documents and require 20 sq. ft. of office space. Even a small storage area can cost $150 a month, plus utilities.

3. Save audit costs.

Internal audit fees can cost small businesses between $5,000 - $20,000—and up to $75,000 for mid-market size companies. Capturing documents transformed into searchable PDFs allows for quicker audit preparation time, saving both employee time and auditor expenses.

4. Allow more cost effective tracking of your business indicators.  

According to the Federal Reserve Board’s National Survey of Small Business Finances, there are fewer than “one quarter of businesses with up to 500 employees who keep financial statements of any kind.” Document management systems offer robust search options and storage in one central location—giving a clearer picture of where to save expenses and make adjustments for future growth.

5. Prevent damage.

Document management can prevent loss from natural disasters and save deterioration from improper storage issues caused by humidity or other room environment problems. It can also reduce paper purchase and disposal expense.

Where’s the drag on your ROI?

Document management technology is more intuitive and user friendly than ever! Join the many companies seeing the benefits of productivity, performance and improved customer experience. Learn more about document management and how it can raise your ROI today.

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