Document Management Return on Investment Analysis

<p><a href="" target="_blank"><img title="Document Management Return on Investment Analysis" style="border-right: 0px; border-top: 0px; display: inline; margin: 0px 10px 0px 0px; border-left: 0px; border-bottom: 0px" height="225" alt="Document Management Return on Investment Analysis" src="" width="170" align="left" border="0" /></a> In today’s business world the ROI of any project is important as competition increases, it is imperative that a company make sure investments generate a large enough return. Increasing business efficiency is the most compelling reason for investing money in any project. Obviously technology has helped many businesses over the last 10-15 years become more efficient. Just replacing typewriters with word processors and calculators with spreadsheets initiated a huge increase in productivity per employee. Taking the next step is more challenging than simply replacing one tool for another as these programs were basically point solutions. It was predicted as early as 1975 that the “paperless office had arrived”. Obviously progress has been made toward this goal, but the amount of paperwork necessary to run a business (particularly a regulated one such as financial services and medical clinics) has increased a great deal since 1975. Just to maintain the status quo requires businesses to move to the next level in office productivity and implement a complete document management solution.</p> <!--break--> <p>Almost every business in today’s workplace uses some type of document management system (including paper-based systems) to maintain the documents used on a daily basis. Accounting departments maintain A/P and A/R files for customers and vendors. The sales department maintains orders for each of the customers. Customer service representatives maintain records on service calls and the service needed. A comprehensive electronic document management system (EDMS) can provide a method for storing all relevant documents about a particular customer or vendor allowing office staff to gain a total view of the customer or vendor. If the EDMS can be integrated into the point software solutions that each department uses, significant gains in productivity and efficiency can be gained. For instance the accounting department could access documents (orders, invoices, contracts, …) online from their accounting application. Sales could access documents from their CRM (customer relationship management) software. The goal of an EDMS should be the software glue that ties the different software packages together in such a manner that all departments in a business gain efficiencies.</p> <div class="wlWriterEditableSmartContent" id="scid:8eb9d37f-1541-4f29-b6f4-1eea890d4876:15e56e33-5de0-4924-8b48-6961c0a87c3a" style="padding-right: 0px; display: inline; padding-left: 0px; float: none; padding-bottom: 0px; margin: 0px; padding-top: 0px"><p><div>Download the full whitepaper: <a href="" target="_blank">Document Management Return on Investment Analysis</a></div></p></div>