I would love to talk about how electronic document management could supercharge your company sales or revenue, but it always seems like it is too hard to connect all the dots. Instead most prospects and customers think “what will this cost me?”
We are always looking at what it costs to create, store, share, ship and scan documents. This calculation is more challenging than ever since there is now both paper and digital storage, cloud and on premise storage, off-site storage and yes, some day, unmanned vehicles delivering documents to your door.
Millennia Group has it’s own hosted document management system called FileStar. It would be considered a private cloud application. FileStar is used for workflow, imaging, compliance, reporting and digital file archive and retrieval. We have analyzed the cost of FileStar for our customers and there are many impressive stats, but one in particular stands out – cost per view.
Our heavy use customers have a cost per document viewed of less than $0.10 with many customers at $0.50 or less. Think about that, less than $0.10 per view. Compare that to the cost of simply going to a file cabinet to pull a document for viewing. For an employee earning $40,000 per year, they would have ten seconds to get to the file cabinet and ten seconds to get back to their desk. I hope your dress code allows gym shoes.
And if your cost per view is higher, factor in the disaster recovery benefits, the absence of lost documents, the avoidance of copying and shipping costs and of course the compliance benefits of user tracking. Lastly, factor in the positive customer experience as a result of getting an answer quickly and you can see why electronic document management shouldn’t be looked at as a cost but as a real opportunity.