Assessing the Return on investment for EDMS is not difficult to do. A look at some of the research provides a clear picture of how a document management solution can provide real savings in time and money.
The intangible long-term benefits can add up to huge savings over time.
Nucleus Research, an independent research firm specializing in measuring the ROI of IT investments, reported that 83% of companies surveyed reported a positive ROI on their investment in Document Management Systems. That's a much higher percentage than can be found with virtually any other IT investment! It's just one reason that Gartner Research puts Document Management squarely in their magic quadrant of tools with high ROI and low cost of ownership.
Savings achieved through the implementation of an EDMS can be summarized as follows:
- Savings from cutting down on paper-related costs
- Savings from Time and Productivity Improvements
- Intangible benefits and savings
Savings from cutting down on paper-related costs
Reducing paper can amount to huge savings based on storage costs alone.
- Floor space requirements for document storage
- Filing supplies, such as cabinets and folders
- Cost of routing physical documents between departments and offsite locations
- Cost of paper and printing
Savings from Time and Productivity Improvements
Productivity gains from timely access and retrieval to documents is a major factor.
- Improved service to customers
- Instant access to documents
- No cost of routing documents
Intangible benefits and savings
There are a lot of intangible benefits can cannot be expressed in terms of money. Although the case can be made for
- Reduced errors and omissions
- Improved turn-around time
- Ability to audit and track documents
infoRouter can easily pay for itself in just a few months given the increased ability for users to locate the information they need. Productivity gains and benefits are only part of the picture. infoRouter also saves you money by centralizing and managing a function typically spread over countless applications and systems.
Finally, there's the very real value associated with your peace of mind -- knowing that all of your critical corporate files and documents are centralized, secured, versioned, and instantly recoverable even if they are deleted.
For an eye-opening return on investment for EDMS, make sure to download and play what-if games with our ROI calculator below: