For years, countless studies from organizations like Gartner and AIIM have demonstrated and quantified how enterprise content management has generated tremendous cost savings with a payback period of less than a year, usually in 6-9 months—for organizations just like yours. These enterprise content management systems typically include some combination of document scanning (capture), document management and workflow automation software.
Yet many companies still do not make the move to go paperless and continue to incur enormous costs relating to manual, error-prone processes year after year.
One of the hidden costs of doing nothing is the inability to focus cash flow and resources to higher value business priorities and away from managing paper-based systems.
What then holds companies back? Bandwidth.
And perceived cost.
We all have more things to do each day than the time needed to do them. To so many, taking on a document management initiative can be daunting—too daunting to handle this year and probably the next.
There is a better way: let the content management professionals do the heavy lifting.
By combining outsourced document scanning and conversion services (and even mailroom outsourcing) with cloud document management, organizations can implement an electronic content management solution in days—with predictable and affordable monthly expenses free of annual maintenance costs, instead of making long-term capital investments that keep CFOs up at night—and without the paper cuts.
Not so long ago, document management systems were available only to a select few that could afford multi-million dollar installations and hundreds of thousands in annual maintenance costs. These systems could take years to implement and often would turn into horror stories.
Today, all you need is to have a document management solution provider pick-up your documents.
In no time at all, you’ll have the resulting document images uploaded into a cloud document management system that integrates with your ERP, accounting or line-of-business software. The Result: instant, secure, enterprise-wide access to all company documentation currently trapped on paper.
Therefore, the cost of doing nothing is the opportunity cost of what you could be doing instead of being bogged down in manual, error-prone processes. Check back next week when we evaluate the tangible cost savings of document management.