Three reasons to invest in a Document Management System today
Here’s the scenario:
You’ve managed your business with paper documents and files thus far. Kate in admin does a great job of keeping tabs on where everything is kept; she’s like a living, breathing directory. Why should you bother with a Document Management System at all? The outlay and upheaval seem like far too much fuss when what you have is just fine.
We get it.
So, have a read of our top three reasons to invest in a Document Management System, then ask yourself this question: Can you afford not to?
Let’s start with the greatest motivating factor… money. Implementing a Document Management System may appear to require a large initial outlay but the return on your investment becomes apparent very quickly. Cost savings occur virtually instantly in three distinct areas:
Time: a single paper document can cost as much as £15 to file in terms of the time spent. This is significantly reduced with the use of a DMS.
Productivity: According to Gartner, staff (like Kate) spend 50% of their time searching for information, and take 18 minutes on average to locate each document. That’s an average of 20 hours per week spent searching! Automating this search improves staff productivity, resulting in an increased capacity without the need to increase head count.
Space: a filing cabinet costs a company on average £500 per year in floor space rental alone. Radically reducing your physical storage could mean making space for more staff, better facilities, or even downsizing your required office space.
Last year, a report considering the benefits of digitised content found that 84 percent of business executives saw payback from their paper-free projects within 18 months, with 26 percent doing so in fewer than six months. What are you waiting for?
Dealing with sensitive data? Want to ensure paperwork never goes missing or falls into the wrong hands? Securing client data and reducing compliance risk are top concerns for most successful businesses. With more and more regulations being imposed, implementing a DMS may be the only way to ensure you are doing enough to protect your business.
Most Document Management Systems provide an automatic audit trail, enabling you to comply with the strictest of regulations using minimal effort. You can be confident that you are significantly reducing compliance risk and/or violations, allowing you and your workforce to spend time on what really matters.
As well as the usual ‘power down’ and ‘recycle’ policies, why not adopt a paperless trading approach using a document management system? Digital folders replace filing cabinets and print output reduces, saving you space and money whilst promoting your business’ green credentials. Welcome to the 21st century workplace!
Paperless or Paper-Lite working not only saves on natural resources, but promotes flexible and mobile working through remote-access documentation. Your agile “work anywhere” workforce thereby spends less time on the road, reducing your company’s carbon footprint.
If you are considering investing in DMS then you are in good company. Providers of these solutions claim to have a 95% contract renewal rate across the world on document management software.
Here at Ben Johnson, we deliver a range of document solutions and we are convinced you will see savings within 6 months. Please call us on 01904 698698 for more information.
Authored by Sarah Beall, Marketing Executive