These representatives will feed information back from departments about both the opportunities and challenges of going paperless. That’s why it’s crucial you form an enterprise content management (ECM) leadership team consisting of these executives, directors and internal representatives of specific departments. The success of any initiative will depend on getting buy-in from C-level executives and top management. Create your leadership team and drive awareness Learn more about how to strengthen document security and compliance for your business with this free on-demand webinar:Ģ 2. You’re also open to theft and damage due to natural disasters, such as floods, which can impact business continuity.įurthermore, printers, which remain common in many organizations, are insecure by default and also open to hacking - yet another security risk for your organization. Unless you have a digital back up, you remain vulnerable to such breaches. After all, paper is, by its very nature, impermanent. The security risksĪn annual report submitted to Congress by The HHS' Office for Civil Rights revealed that paper records account for 62% of data breaches in companies of over 500 employees. This wasted time costs the organization $19,732 per information worker per year.” For an organization of 1000 employees, productivity losses are equivalent to hiring a whopping 213 employees. information workers waste a significant amount of time each week dealing with a variety of challenges related to working with documents. Indeed, according to a 2012 IDC White Paper ". The time that employees spend on these unproductive tasks could be costing your company thousands of dollars. This report reveals the key benefits and best practices for small and medium-sized businesses to start saving on every dollar and win back employees' time.Īnd, let’s not forget the indirect cost: Paper-based processes are a time-suck and remove knowledge workers from more productive and high-value tasks. ![]() In conducting original ROI research studying the cost benefits of investing in content management, Nucleus Research found returns $8.55 per dollar spent for SMBs alone. That doesn’t even account for the cost of filing, shipping and storing documents- let alone the cost of the actual paper. Gartner estimates that companies spend between 1 to 3% of their revenue on office printing.
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