Electronic Document Management Systems save space, time and money
24 July 2009
But how do companies actually benefit from EDMS long term? When can a return on investment be expected and does EDMS work for everyone? Pearl Scan explains…
Electronic Document Management Systems save space, time and moneyBut how do companies actually benefit from EDMS long term? When can a return on investment be expected and does EDMS work for everyone? Pearl Scan explains…
Electronic Document Management Systems are playing an ever popular part in eliminating paper flow as more and more companies look for space saving, efficient and cost effective document storage.
Having a document management system means keeping documents in electronic format and so a fair amount of scanning could be needed to have incoming files and archived files digitised into one central system. However, the benefit is that documents can be distributed through departments easily and quickly instead of being stored in one cabinet and hand-balled around. This already saves on storage
space and the cost of new filing cabinets.
To implement or not to implement?
Many companies ponder this for some time as they believe the initial cost outweighs the needs of the moment. The reality is that they are actually losing money, time and efficiency frequently without using a document management system. This could be true of companies of all sizes. It would actually have less of an impact on a small business of say 10 people with just a couple of filing cabinets but any business with over 20 staff members would actually see a return on investment a lot sooner.
In a company with just 10 people, document filing and retrieval can cost up to £940 per month. Add that to the £120 a month for photo-copying and other activities, almost £1500 a month could be spent.
Return on investment plus more?
The majority of medium-sized businesses have seen their document management system pay for itself in just a couple of months while a return on the cost plus an increase in productivity took only 6 months.
So it is true that a document management system would provide a return on investment in a reasonably short space of time if it is managed and implemented well. That is why many companies swear by them. But on top it also offers vastly increased productivity, quick customer response time and enables storage space in the office to be cleared up by having all files held centrally on the system, more room to roam in the office. So it actually provides much more than a return on investment, it provides a fresh, clean start to any business.
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