Why consider document management when we already have a paper based solution? Often a question asked by businesses, the annual cost of maintaining a paper system may seem like a choice that doesn’t carry much cost, however this is usually much higher than businesses realise. In order to maintain a paper based solution businesses must consider the costs for:
- Paper and printing costs
- Document storage
- Labour to file and retrieve documents
- Misfiling documents
PAPER PRINTING COSTS
If you currently file paper documents then the first thing to consider is the cost of printing documents. Once you combine the cost of the paper, toner and hardware maintenance, each document that is printed carries a significant cost.
Storing documents is obviously important to all businesses and you may store documents in the office or with an archival company. Either carries a cost in the form of using up floor space within the office or paying for the storage with the archival company.
LABOUR TO FILE AND RETRIEVE DOCUMENTS
Filing or retrieving documents from a physical location takes time and in a previous blog post 'Say Goodbye to document nightmares' we showed you that Employees spend 20% to 40% of their time searching for documents manually. This time spent by employees is also a cost to the business.
The cost of misfiling a document can be hard to determine as each business is different. However if you take into account the fact that if the document cannot be found, it will most likely carry a financial implication to the business, this is a cost all businesses could do without.
SO WHY CONSIDER DOCUMENT MANAGEMENT?
If all of the costs mentioned above can be reduced whilst giving the business enhanced capabilities and benefits that come with a good Document Management solution then surely the question is: why not?
For more information about EBC Group's document management solutions, please contact Systems Consultant, Graham Hurwood on 01604 670500 0r email@example.com