By Joan Honig, DocuWare – CFOs and CIOs looking for ways to reduce costs and maximize productivity already know that a good document management pays for itself in a matter of months. Digital document management (sometimes called “enterprise content management” or ECM) cuts man-hours and therefore costs by automating workflows and eliminating time-consuming manual tasks.In ROI research studying the cost benefits of investing in document management, Nucleus Research found returns of $8.55 per every dollar spent by small and medium-sized businesses (SMBs). Their report reveals the key benefits and best practices for SMBs to start saving on every dollar and win back employees’ time.
Five ways to save on operational costs1. Storage costs
Switching from paper-based processes to digital document management, means you no longer need to pay to store and maintain hard copies of your business records on or off site.