White Paper: Document Management Return On Investment (ROI) Analysis

By Andrew Bailey

This paper will outline how a document management system can generate a significant return on investment for small to medium sized businesses. The changes in technology pricing over the last 10 years has finally made it possible for small to mid-sized businesses to enjoy the same efficiencies provided by information technology systems that large enterprises have enjoyed for decades. Think about where we would be today if banks did not have computer systems, or clinics could not provide access to patient folders at remote locations. These advances in technology can now be applied with ease at the small to medium enterprise level.

In today's business world the ROI of any project is important as competition increases, it is imperative that a company make sure investments generate a large enough return. Increasing business efficiency is the most compelling reason for investing money in any project. Obviously technology has helped many businesses over the last 10-15 years become more efficient. Just replacing typewriters with word processors and calculators with spreadsheets initiated a huge increase in productivity per employee. Taking the next step is more challenging than simply replacing one tool for another as these programs were basically point solutions. It was predicted as early as 1975 that the "paperless office had arrived". Obviously progress has been made toward this goal, but the amount of paperwork necessary to run a business (particularly a regulated one such as financial services and medical clinics) has increased a great deal since 1975. Just to maintain the status quo requires businesses to move to the next level in office productivity and implement a complete document management solution.