It can be challenging to get people to open up to the idea of a document management solution because of the perception that it will be too expensive. But it’s important to consider how much it is costing you to NOT go paperless.
First let’s think about the paper itself. On average, how many reams of paper do you order for the office? How many times do you make copies of each document before it gets filed? You can take that number and multiply it by about 5-10 cents each page (taking into consideration the paper itself, the ink, and toner.) Plus less wear and tear on the printer means more time between maintenance checks and more cost savings.
Then take a look at the filing costs. Consider how much is spent each month on paperclips, staples, files, off-site storage fees, and square footage in the office being taken up by filing cabinets. Not to mention the labor costs for the amount of time spent filing and coping each and every one of those documents. We rarely think about how much time we spend each day on menial tasks. If you were able to give that time back to your employees, the benefits would come in a ripple effect. With more time in their day, employees can focus on more meaningful tasks. Job satisfaction would be up and revenue would increase as well.
Let’s also think about how much you spend sending documents via mail or courier. Take the number of invoices you send out per day. Multiply that by the postage costs, plus envelopes and labels. Documents sent regularly by a courier (maybe to remote offices), would be a significant expense.
Look at the big picture of how much you are spending to process your documents. That’s how much it’s costing you to NOT go paperless. And the amount gets larger and larger every day. If you bite the bullet and invest in a document management solution, you can expect the typical return on investment in six to nine months. Beyond that the savings will add up for years to come.