It has been well documented that converting to a Document Management solution will more than pay for itself in a very short period of time and help make your business more productive and competitive in these uncertain times. A recent Price Waterhouse study provides evidence that supports this. They searched 10,000 documents looking for a specific topic, author, and date range. A manual search of the paper files performed by a staff of paralegals took 67 hours and found 15 documents. The same search performed using a document management system took 4.5 seconds and found 20 documents. What is the cost to a law firm that cannot find 5 critical documents? Not to mention the cost of the paralegal at an average of $22.50 per hour times 67 hours equals $1508.84 to find only 75% of the documents verse 100% of the documents in 4.5 seconds equals $0.028. So you ended up winning the case because you found the extra 5 documents with your document management system that you’re your opponent did not find and you saved $1508.81 in the process due to labor cost. It does not matter whether you are a law firm, accountant, construction company, medical billing company or Employment agency if you can’t find your information it is costing you money and making you less competitive.
Benefits of converting to a paperless office |
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Fantastic job, I was doing a google search and your internet site came up for homes for sale in Altamonte Springs, FL but anyway, I have enjoyed reading it, keep it up!
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Fantastic article! I am looking into feasible ways of getting our office paperless and this article did help a lot, one of our primary objectives to going paperless is that we could do automated bill pay.
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