Every business “manages” its documents in some way, perhaps through a paper-based filing system full of cabinets, or maybe a digital system with external hard drives or share drives. The question is, does your company’s system of document organization work for you? Or are you spending valuable time, money, and effort to find important information that should be readily accessible?
If your system of document control isn’t working for you, you’re not alone. Consider these sobering facts from a recent study by Coopers & Lybr:
- In the average office, workers spent 70% of their time processing paper documents
- Despite this time commitment, 15% of all paper documents are misplaced or misfiled
- Thus, 40% of the average white collar worker’s time is spent searching for lost documents
The Cost of Poor Document Control
The fact is, when your documents aren’t managed correctly you lose money. Every minute of lost productivity correlates to lost business and lost revenue, especially when lost documents contain sensitive information, or a customer is kept waiting.
Paper-based filing systems are inefficient and outdated while shared drives are often unorganized “digital landfills.” In these situations, the costs add up quickly. Here are the most recent dollar estimates related to poor document control. It costs:
- $30 to file a single document
- $120 to locate a misplaced document
- $220 to replace a damaged or lost document
These facts add up to one clear assessment: it’s wasteful and costly to rely on old methods of document filing.
Document Management is the Solution
A digital document management system is the solution that many companies are turning to. Your business-critical knowledge and sensitive information should be easily accessible and well protected; that’s exactly what a document management system does.
Document management provides a way out of the mountains of loose papers and unorganized shared drives, keeping information available whenever you need it. But that’s not the only advantage to a document management system.
- Remote access for all your files, anytime, anywhere
- Increased productivity with easy collaboration tools
- Enhanced regulatory compliance
- Smart indexing for easy search
With document management, you’re in control of your most powerful asset: your company’s information. Take back your organization’s information, Contact us today to get started.