No doubt about it, if you want to gain from the benefits of going paperless, you’ve got to spend some money. When evaluating an Enterprise Content Management system, decision makers are hesitant to make that initial capital expenditure. All they think about is the money that’s going to come out of their pockets, along with the time and effort it’s going to take to implement a new system.
What they may not realize is the numerous ways they would be saving time and money if they were paperless. ECM is an investment, not just an expense. It’s an investment that will pay dividends in many ways for as long as a business is in operation. ROI can come in many forms with an ECM system. Check out this short list of costs, inefficiencies, savings and benefits for just some of the ways ECM will contribute to rapid ROI. While some of these items are easy to calculate in a cost-benefit analysis, others are more difficult to put a number on. The bottom line, though, is that they all save you money and enable your business to run more efficiently.
• Rent for offsite document storage
• Filing supplies, cabinets, folders
• Shipping of documents to clients or offsite storage
• Printers, maintenance, ink toner
• Reams of paper
• Time spent filing and searching through paper documents
• Lost documents and time spent recreating them
• Time lost manually routing paper documents among participants of a business process
• Loss of paper documents due to natural disaster (fire, flood, etc)
• Eliminate manual data entry
• Regain office space previously used for filing cabinets