We often get asked what the Return on Investment (ROI) is when it comes to implementing a Document Management System (DMS). The answer however, can vary depending on how your business is already managing its processes and documents.
They key is to really look at how your business is operating and if there are any improvements that can be made. Asking questions such as:
- how many invoices are processed each week and how long does this take staff?
- how much time is spent on non-profit making tasks such as finding documents – stored digitally or in filing cabinets?
- are there any issues with losing or duplicating information?
- how good is your version control? Would staff know which is the current document or if one was missing?
If you are having problems with lost data, staff spending too much time on menial tasks, or you’re unsure to the answers of any of these, it’s time to look at implementing a document management system.
The first and most simple ROI a document management system can make, is cutting down on all paper related costs:
- paper use
- office space
Save your staff time and increase productivity
Your employees are wasting time if they have to:
- continually get up from their desks to find documents stored in filing cabinets
- search for information on someone’s desk
- look through countless folders on the network to find information stored by someone else, possibly incorrectly.
Improve customer service and company reputation
Customers left waiting on the phone while staff search for the information relating to their call can easily become disgruntled. Or even worse, if that information can’t be found, the call could quickly escalate into something unpleasant. This all affects customer trust, company brand and employee motivation.
ROI of a Document Management System
A document management system with DocTech’s support, can help with everything covered in this article. It:
- reduces paper, printing and storage costs by storing all your business information electronically, either on your servers or in the cloud.
- provides easy and searchable access to day to day documents, improving customer and employee satisfaction.
- increases security – knowing documents are centralised, can’t get lost and are easily recoverable.