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Security: 90% of corporate intelligence is stored in documents. Imagine losing all of your corporate records. Really, stop and think about it. You would not know anything about your customers or vendors. You who not know who owes you money and who you owe money too. You might not even know who works for you and what you pay them. You would not know who is expecting a delivery, or what they even ordered. If a customer called and wanted some information, a copy of a bill, confirmation of an order, etc., you could not even help them. It would almost be as if you never existed.
Revenues: Nothing happens until a document is generated. Documents convert information into action. Documents are central to every business transaction that occurs every day. Company sales hinge on the ability to get proposals, quotes and contracts into your customer’s hands before the competition does. Purchasing people cannot bring in the necessary raw materials that are needed, when they are needed, and at the best prices, unless the right documents are generated and delivered rapidly. Shipments do not happen until accurate shipping documents are produced. And, of course, cash flow is dependant upon getting invoices prepared and delivered as quickly as possible.
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Enterprise Document Management Solutions
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Margins: According to Cap Ventures, corporate America spends up to 15% of annual revenues managing documents. The number of documents generated grows 22% annually. That means document related expenses double every five years according to Kevin Craine author of Designing A Document Strategy. Where will the money come from to cover these costs? While there are uncontrollable expenses, documents do not have to be one. A document strategy can turn paper into profits.
Efficiency: Traditional paper laden document processes are very labor intensive. According to Pellow & Griffin Research, for every dollar spent on a final document, ten dollars are spent to managing the document process. 60% of the office workers’ time and 45% of the office payroll is consumed by documents according to The Gartner Group. A state-of-the-art document management system can virtually eliminate the labor factor associated with documents.
Customer retention: Customer service is built around information (documents). The ability to access information instantly in order to solve customer problems is vital to customer satisfaction and retention. Traditional paper record keeping is unreliable because paper records get misplaced and lost.
Click here to let us help you design a document strategy so you can get started increasing profits with a new document management system.
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Proven Document Management and Cost Reduction Strategies
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