It’s not uncommon for an organization’s documents and content to be strewn all over the place—in filing cabinets, on someone’s desktop or laptop, in email or on a central server. As a result, employees can waste enormous amounts of time searching for misfiled documents and lost data. Failing to find the information, even more time is wasted recreating the original.
Without an effective strategy and system in place to manage vital information assets, companies will undoubtedly experience significant operational inefficiencies. But don’t take my word for it — numerous organizations have studied and researched the drag on efficiency and productivity that results from ineffective enterprise content management practices. For instance, did you know that:
- Professionals spend 50% of their time searching for information, and on average, take 18 minutes to locate each document. (Source: Gartner)
- 15% of all paper documents are misfiled or misplaced. (Source: Coopers and Lybrand)
- Information workers waste a significant amount of time each week dealing with a variety of challenges related to working with documents. This wasted time costs the organization $19,732 per information worker per year and amounts to a loss of 21.3% in the organization’s total productivity. For an organization with 1,000 people, addressing these time wasters would be tantamount to hiring 213 new employees. (Source: IDC and Adobe 2012)
Knowing where to find a document in its most current version can save precious time and money. By simplifying and optimizing the ability to search, retrieve, process and archive documents and other information from anywhere in the enterprise, ECM and document management solutions can enhance employee collaboration, accelerate the decision making process while also yielding better decisions, improve quality and customer service, decrease time to market, and more. In essence, everything works better.
- An efficient solution for conducting searches across all available internal content in the enterprise — matching the capability of web searches — could improve the productivity of professional staff on average by 30%. (Source: AIIM 2012 – Capitalizing on Content)
- On average, companies experience an increase of 18% in productivity and staff engagement from utilizing an ECM solution. (Source: AIIM 2012 – Capitalizing on Content)
You can find more research-based data from trusted and well-respected organizations about the positive impact an ECM system can have on your company in the M-Files white paper, The Business Case for Enterprise Content Management: A Collection of ECM and Document Management Research Data.