The Benefits of Document Management
According to Gartner, a typical Document Management system will pay for itself in two to three years. They make the following further points:- Staff can waste more than 20%-30% of their time managing documents
- At least half of that time can be saved by implementing a Document Management system
- The average document is copied 9-11 times, costing $18
- Document filing costs about $20 each, misfiles cost a further $120
- Documents also have other fees associated, such as cabinets, floor space, storage, and postal costs
- Less document production costs
- Avoidance of data duplication
- Promotion of data reuse, leading to lower costs and time for document production, repurposing and distribution
- Wider and easier access to documents to facilitate knowledge worker productivity
- An increase in data integrity
- Better-quality documents
- Slower growth in head count due to higher productivity
- Reduction in head count
One of the main areas where we've realised benefits even beyond those mentioned by Gartner, is in the sharing of documents. This can lead to concurrency, where multiple people work on the same document at the same time. This allows you to slash your turnaround times; even if you're unable to speed the individual parts of your process, running them all at once provides massive benefit.
