Below are the answers to two common questions business owners and managers ask about Document Management. Read on to find out if they help answer the questions that are on your mind as well.
1. Can Our Company Afford Document Management Services?
Perhaps a better question is this: Can you afford not to partner with a Document Management Services provider?
Increasing your productivity is a proven method for increasing revenues and profits. Document management allows you to reclaim the time your staff is currently spending to create, store, and retrieve paper documents. Consider these statistics from The Paperless Project:
- Knowledge workers spend from 30% to 40% of their time searching for information.
- Each document that can’t be located costs companies $350 to $700, including the time wasted in searching and additional time to recreate the information.
- Large companies have it the worst—they lose a document at the rate of one every twelve seconds.
And paper documents cost more than just productivity losses. They’re expensive to produce and store.
- A typical four drawer filing cabinet uses up nine square feet of expensive office space and costs its owner $1,500 annually to maintain.
- In the United States, businesses and organizations of all kinds spend a whopping $120 billion every year printing paper documents.
- Most paper documents are obsolete within three months time.
- If your company follows the current trend, your paper consumption (and costs) will double in just 3.3 years.
2. Aren’t Paper Documents and Processes More Secure?
It’s easy to see why many folks believe they are. Paper documents are tangible—we can hold them in our hands, place them in a folder and store them for later use. We feel secure knowing we put them somewhere safe. But are they really secure? Paper documents are susceptible to loss (see above), theft, and natural disasters like fire or flood. Document Management provides backup and recovery services to keep your data safe, even if the entire contents of your office is stolen or destroyed.
To find out more about the advantages of Document Management from C.A. Reding, contact us today!