No matter where a business is located or what products and services they offer, wasted time and money is an issue every business wishes they could fix. Using an Electronic Content Management system can certainly help achieve this goal by putting cash back in your pocket and letting your employees focus on revenue generating tasks. This might sound far-fetched, but most companies are vastly unaware of the waste happening every day in their offices.
- Executives in the U.S. waste up to 6 weeks every year looking for misplaced information.
- 90% of all documents handled every day are just getting shuffled around.
- A company can spend as much as $120 in labor costs to find a lost document and up to $250 to recreate it.
- Lack of structure managing documents and digital assets costs Fortune 500 companies an average of $12 billion every year, according to recent research.
- More than 800 million pages are made by computer printouts on a typical day. This amount of paper can fill a file drawer 225 miles long.
- Research has found the average employee spends $4,800 worth of their time just searching for documents in a normal year. That means, a company who is not using a document management software, with 150 employees each wasting $4,800 worth of their time searching for documents every year would spend $720,000 looking for documents.
- Despite rumors of a paperless office, 80-90% of all information in the average office is still printed on paper.
- Once papers are filed, 80% of papers are never referenced again, and 50% of all filed papers are just duplicates or expired data.
- For every 12 filing cabinets in an office, an additional employee is required to maintain the filing cabinet.