Document management systems provide streamlined, cost-effective ways to automate business
processes and coordinate information capital. Choosing a suitable technology to fulfill this... [MORE]
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Cashing in on Intellectual Capital
Information management has long been recognized as a top priority for organizations both large and small. Information management is the need for, or the desire to provide, the right information to the right people at the right time.
The workplace is shifting from isolated information environments, toward collaborative environments where workers create and share knowledge, information and ideas. Collaborative technologies help to coordinate business processes, and the sharing of Intellectual Capital - the right information to the right people at the right time.
Forty to sixty percent of an office worker's time is spent handling paper, which translates to 20 -45 percent of an organization's labor costs and 12-15% of an organization's expenses. At any given time 3-5% of companies documents are either lost or misfiled. The average cost to recreate a misfiled document is $120.
In The Average Office…
9 Paper copies are made of each document
7% of paper documents get lost completely
3% of the remainder get misfiled
$20 in labor is spent filing or retrieving a document
$120 in labor is spent finding a misfiled document
$250 in labor is spent recreating a lost document
$1400 in labor is spent recreating a lost CAD document
for, or the desire to provide, the right information to the right people at the right time.