COST BENEFITS OF DOCUMENT MANAGEMENT SOFTWARE
Problem: Your business is busier than ever, but you can't afford the time or money it takes to withhold all of your crucial documents and data. Your business needs to determine a cost effective way to manage documents, files, reports, bills, and have quick access to such data at anytime.
Solution: Implementing a Document Management System such as PinPoint will help you not only organize your documents, but will also save you both time and money on labor costs. On top of that, imagine the environmental benefit of using little to no paper at all.
Crunching the Numbers:
- The average office spends up to $20 on labor filing or retrieving a document(s).
- The average office spends up to $120 in labor finding a mis-filed document(s).
- The average office spends up to $250 in labor recreating lost documents.
- 7.5% of all documents get lost, 3% of the remainder get mis-filed.
- The average business document is copied 19 times – Over 81 billion sheets of paper are copied each month.
- There are over 4 trillion paper documents in the U.S. alone – growing at a rate of 22% per year.
- U.S. Banks have over 16 billion paper documents on file, growing at a rate of 4% per year – 80% of the documents are suitable for imaging.
- Over $5 billion each year is wasted on printed materials that become obsolete before they are ever used.
- Only 10% of corporate information lies in structured databases. The remaining 90% – often critical to business processes – lies un-managed in chaotic file system structures.
*Sources: Coopers & Lybrand, PC Magazine, AIIM, Imaging Magazine
Gartner Reports: Transitioning To Electronic Document Management Software Will:
- Save on time to create and modify documents 50%-90%
- Increase in productivity 20%-30%
- Save on document handling 20%-40%
- Improve cycle time 20%-40%
- Save on document storage space 30%-50%
- Provide immediate access to decision-critical data, from any location.
- Provide fail-safe, secure document management solution.
PinPoint DMS Key Features
Online Document Repository
Automatic Filing of Documents and Data
Fully Definable Security for User Access
Finalize/Place Hold on Files
On-Boarding and Forms Processing
Learning Management System