Your Organization Will Likely Reap Substantial Benefits From Document Imaging If:
You need to digitize paper documents to better organize files and prevent lost paperwork due to disorganization and misfiling.
You are in a highly regulated industry that needs to maintain records for regulatory compliance and eDiscovery.
You have mobile sales or service forces that needs to manage and/or access incoming captured data.
You are concerned with document security and consolidating information to improve security and data management.
You are seeking to convert paper documents to digital information that can be organized for big data analytics.
You are concerned with saving money spent on paper processes and reducing its carbon footprint.
The Facts About Saving Money With Document Imaging
Seven percent of an organization’s total annual revenue is typically spent on document output.
A well-designed document management system can save a company 28 percent of operating costs.
More than 7 percent of all business documents are lost and 3 percent are misfiled.
There are 15,000 sheets of paper in the average file cabinet drawer and 22,000 sheets in a lateral file. With the national average for office space at $23.23 per square foot paper storage is expensive.
More than 50 percent of help desk calls are for printer problems.
On average, ten-percent of IT staff time is spent addressing printer problems. If the average IT employee earns $80,000 per year, that’s $8,000 per year in staff costs for printer troubleshooting.
The Four Biggest Document Imaging Benefits
Cost: Document imaging technology will more than pay for itself in:
- Reduced paper usage and waste.
- Reduced printer usage and maintenance cost.
- Savings in staff time producing and looking for lost documents.
- Improving efficiency in sharing business-critical documents electronically.
- Digitization of paper documents for more efficient and secure storage.
- Conversion of business-critical documents to a form where they can be used in big data analytics.
- Positive environmental impact.
Control: Converting paper documents to digital files increases control, providing the means to electronically store and monitor access.
Security: Digital information is easier to secure and monitor than paper documents. Digital information also is less subject to loss due to carelessness, fire, or other disasters.
Regulatory Compliance: Regulated industries are concerned about archiving and tracking data in a secure way to ensure compliance. Document imaging is the first step in creating electronic documents that can be secured and tracked in accordance with almost all regulations.