Stop Focusing on the Cost of Producing a Document and Start Thinking About the Cost of Finding It.
Companies often focus on the cost of creating a document: how many cents per page? Should you print in color, or in black and white? As managed print specialists, we’re guilty of this too. Some might say we even obsess over it. While cost per page is important, it’s the beginning of the document lifecycle, and there’s something obvious that you probably haven’t been focused on—the cost of finding that printed page once it’s been stored.
In order to calculate this cost for your organization, consider the following:
- Retrieval speed
- Number of employees involved
- Success rate
- Accuracy of information
Let’s look at the first two points. Just last year, full-time employees were surveyed and 49% of them said they “have trouble locating documents” (Nintex). That’s nearly half! How much time do you think is spent searching at your organization? If your employee can’t find what he/she is looking for, the logical next step is to involve a co-worker—now you’ve got two employees searching, not working. Double your cost.
What’s worse? They aren’t always successful in retrieving said file. Your employees may come across an older version or something with missing pieces. The time it takes them to fill in the gaps only further increases your cost. Cha-ching!
Accuracy of information found should also be a concern, as 33% of employees surveyed said they “struggle with document versioning” (Nintex). How do your employees currently determine if the document they’re looking at is the latest copy? Is V3 it? Or is there are V4 they don’t know about? And who do they have to ask to get the answer? It just keeps adding up.
Had enough? A digital transformation should be your next move.
So, what exactly is a digital transformation? In short, it’s an entirely new digital workflow that integrates with your business processes and allows your documents to seamlessly flow without disruption or delay. It is not limited like its paper counterpart—all of the above issues can be resolved with the right software and the right partner. With the help of OEMs like HP, you can have secure, automated workflow connections thanks to its open architecture.
Many organizations are already in the process of a digital transformation, but it doesn’t happen overnight. Don’t lose your competitive edge because you’re resistant to change. Take a step-by-step approach and it will make all the difference in your productivity as a company, and ultimately, your bottom line.
Contact a SmartPrint specialist today to learn more about document management integrations, and what a digital transformation could look like for your business.