Here’s another top excuse for not considering document management for you all:
On that note, I'll let you mull over these 10 Fast Facts About Document Management Value that will make you rethink the role of document management in your company. The facts don't lie, people:
- Companies spend $20 in labor to file a document, $120 in labor to find a misfiled document, and $220 in labor to reproduce a lost document.
- 7.5 percent of all documents get lost; 3 percent of the remainder get misfiled.
- Professionals spend 5 – 15 percent of their time reading information, but up to 50 percent looking for it.
- The average document photocopied 19 times.
- There are over 4 trillion paper documents in the U.S. alone and they are growing at a rate of 22% per year (PricewaterhouseCoopers).
- Corporate users received an average of 18 megabytes (MB) of e-mail per day in 2007; E-mail is expected to grow to over 28 MB per day by 2011.
- Users send and receive an average of 133 e-mail messages per day (Radicati Group).
- A single FAX machine costs $6,200 per year (Captaris); the average time to manually FAX a document is 8 minutes.
- The average cost to send a package via courier service is between $8 and $15.
- The cost of office space has increased 19% (Office Space Across the World 2008).