Listed below are a few areas that will generate savings upon implementation of an efficient, simple to use Document Management System.

Some offer direct cost savings whilst other offer less tangible, but perhaps more considerable savings.

Please note the list below is for example only and will vary depending on your organisation.

Please click here to see the appended notes for further detail.

This example is based on 20 software users.

Retrieval times - Conservative £860 per month

Telephone calls - Conservative £130 per month

Reduced filing space / cabinets - Conservative £1000 per month

Credit control - Outstanding total debtor balance is reduced by 5%

Printing/photocopying costs - 25% reduction of printing/photocopying costs

Other savings / improvements

Improved customer service - Competitive edge/repeat business/referrals

Data security - Business critical

Efficient electronic document storage/retrieval - Saves more time/useful when staff on holiday etc.

Management information - Useful for marketing feedback/company audits etc. - impossible with paper files

Note - Compliance - The process is compliant with British Standards, Inland Revenue, Customs & Excise etc. – documents can be destroyed once the data has been backed up

Summary

It is impossible to ascertain an accurate return on investment and pin point a precise break even point given that many, if not most, areas generate non-tangible returns. However, looking at some of the points listed above, a typical saving of £2500 per month is a very conservative estimate.

Assuming the system has a conservative life of 4 years (suppliers estimate 5 years), the overall return will be in excess of £100,000.