If you've ever wondered how much time and money your Richmond business spends producing, filing, accessing, and managing your documents, you're not alone. Researchers were wondering too, and they've compiled a few sobering statistics. Here's a sampling:
- And the answer to your first question is—50%. It may seem incredible, but the average knowledge worker devotes half of each day to document creation and preparation. Unless you're in the printing industry, that's way too much.
- Outdated processes are costing you more than you think. Lost, misfiled, and inaccurate documents cost the average business $20,000 each year—per employee.
The Email Time-Waster
Email can save your Richmond business a lot of time, but it's not the best way to share documents. Even so, 92% of us still do it. For example, an employee mistakes a draft of a contract proposal for the final word and presents it to the client. Unfortunately, the proposal was not the finalized version, presenting your business with two choices—lose money or lose a client.
Speaking of Contracts
"We love the long lag time from contract proposal to a signed deal," said nobody, ever. Old school is great when you're talking vinyl records, but what's it doing hanging around the office? Nearly half of businesses still rely upon printed contracts and a face-to-face meeting to seal the deal when electronic Document Management could reduce turnaround time by as much as eighty percent.
There's a Better Way
Document Management provides a solution to all of these difficulties and more.
- Scan and convert paper documents to editable PDF files, saving time and reducing errors.
- Speed up processes for improved client satisfaction.
- Automatically route documents directly where they need to be.
- Locate documents in a few seconds with the click of a mouse.
To learn more ways Document Management can help your Richmond company succeed, contact us at Edwards and Virginia Business Systems today.