Reduce Operating Costs with a Digital Document Management System

By Joan Honig, DocuWare: The possibility of an economic downturn during the upcoming year is unsettling, and its potential impact is difficult to predict. But reducing operating expenses (OPEX), which include everything your company spends to keep your business up and running, is sure to have a positive impact on your company’s financial health. Switching from paper-based processes and partial solutions like Google Drive or SharePoint to a digital document management system (DMS), reduces OPEX in every department where the solution is in place.

OPEX include payroll, rent, taxes, insurance, travel and utilities as well as sales commissions and asset depreciation. Cost of goods sold (COGS), the cash outlay for making, packaging and selling your product is an operating expense that is calculated separately. Generally, service businesses have little or no COGS. This blog post outlines the ways that digital document management and decreasing expenses go hand in hand.