“What is the ROI of Document Management?”

The case for a document management solution is based on its return on investment. Most organizations still archive their documents in paper format. Consider the following risks and costs associated with paper storage:

Monthly Off-Site Storage Fees

The cost to store paper files in an off-site storage facility can cost several hundred dollars per month. Paper documents stored in self-storage facilities will be time-consuming to retrieve and are rarely organized beyond an alphabetical system.

Valuable Real Estate

In an expensive downtown office, filing cabinets can cost your office valuable real estate. These filing cabinets take up too much room when space is precious and costly.

Fire/Flood Protection

If a fire, flood or other natural disaster were to hit your office, do you have backups of your paper files? In most cases, the answer is no. How much headache would it cause you to lose all of your records? How much time and money would it take to recover these files?

Confidential Documents

How are you storing your confidential files? Document security is becoming increasingly important to companies. A locked cabinet does not offer enough security to store your confidential data. Anyone motivated enough to steal a confidential document can easily pick a lock.

Time Spent Filing Documents

Employee wages is one of your largest expenses. It can take several minutes to file a paper document. When this task is performed several times per day, filing a document becomes an unnecessary additional labour expense.

Time Spent Retrieving Documents

Similarly to above, it can cost you just as much in wages for your employees to retrieve documents via a paper filing system. After all, paper documents can only be organized by a single filing system.

Calculating the ROI of Document Management

To calculate your return on investment, add up the above figures. If you don’t know how much time is spent filing and retrieving, conduct a simple survey in your company. Or contact Ontario Copier to help you with this task (it’s free!).

The True Value of Document Management

Document Management software reduces costs for companies by eliminating expensive paper storage costs and speeding up your document filing and retrieval times. Converting to a digital filing system treats your documents like a Google Search. Documents that are uploaded into the software are automatically embedded with keywords called “metadata.” This metadata might be text within the document, a date, a barcode number, or a specific name or phrase. To retrieve your files, simply enter one of many different keywords and your document management software will populate your search with documents that best fit your keyword search.

Beyond faster filing and retrieval times, document management gives you a backup of all your records. In the event of a natural disaster, you can be rest assured that your records are still safe. Confidential files can even be password protected to add a second layer of security.

As paper continues to be used less and less, the need for simple and easy to use document management systems will grow. We are ahead of the curve with document management technology and are ready to answer the questions you have.

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