In any business it's no mystery that paperwork can slow you down. Whether it's having to pull information from a filing cabinet, copy a file for a coworker to review, request documents from your business records storage provider, or mail documents out to another division or company, the time and costs involved add up quickly. The key question that companies face today is: How do you manage all that paper in a way that doesn't slow down your business processes? The challenge is to achieve instant access to business critical information in a cost model that makes sense.
Some methods intended to eliminate paper are increasingly inefficient, labor intensive and drain corporate resources. One option that many companies consider is implementing document management technology by purchasing, installing and supporting an in-house infrastructure. Often, this approach ends up over budget while under-delivering results. It's important to recognize that up-front costs are actually small compared to ongoing personnel requirements to operate the system and to service end-users. In fact, the total cost over a three-year period is estimated to be a multiple of 6 to 10 times the initial software and hardware costs.