Recent research by InfoTrends revealed that the majority of surveyed organizations believed that they were spending 3% of their annual revenue on document-related expenses. The study found that actual overall expenditures on documents were 6% of annual revenues.
Document costs included everything from printing and copying to the infrastructure needed to store and retrieve critical information.
In today’s information economy, the volume of information grows every year. This means the document costs we are experiencing today are only going to increase.
Fortunately there are several practical strategies you can employ to reduce your document costs:
Multifunction Systems
New workgroup multifunction systems provide printing, copying, faxing, and scanning services in one device. Some of these systems even offer both full color and black & white functionality.
In most cases multifunction systems are less expensive to operate than laser printers. This is especially true when it comes to color output. Instead of buying costly printer cartridges, these systems operate on low cost-per-page agreements that include supplies, preventative maintenance, and on-site service. The net result is lower output costs.
In addition, integrated scanning allows you to route documents to email addresses with ease. You can also scan documents to any folder on your network or PC.
Printer Management
Printing now accounts for up to 80% of document output in many offices. A properly-managed printing environment can cut printing costs by 8-42%, according to a recent study by Hewlett-Packard. The first step is understanding your actual printing expense.
We employ a simple tool that gathers actual usage information from the printers on your network. Armed with this information, we can make recommendations to route high-volume print jobs to devices with the lowest cost of operation.
Many of our clients also benefit from our Total Print Management program that provides printer supplies, preventative maintenance, and on-site service support at a low cost per page. All of this is included on one invoice, helping you see your savings.
Document Management
Electronic Document Management technologies (EDMS) allow you to integrate paper documents into your core business processes. An EDMS provides a central digital repository for scanned paper and other computer files.
Streamlined processes lead to reduced cost and greater customer satisfaction. Incoming documents can be scanned and securely stored for later processing or retrieval. In addition, a document management system can enhance compliance with government regulations and streamline audit processes.
The net result is increased productivity with lower overhead expenses.
Scaled For Medium and Small Business
Fortune 500 companies and government organizations have been enjoying print and document management technologies for years. Advances in technology now make it possible for medium and small businesses to take advantage of these savings.
To learn more about how your company’s budget can benefit from electronic document management, contact us today.