By now, most business owners have thought about document management as a solution for their business. If you are one of the few still on the fence about whether it is right for you, consider the following numbers, provided by Nitro. These stats prove that DM is more than just a buzzword, it is a necessity for most businesses.

Managing Time

  • According to statistics, knowledge workers spend 50 percent of their time just creating and preparing documents. That means out of a 40-hour work week, 20 hours are spent just on documents, wasting time that could be used for other critical tasks.
  • Document challenges reduce overall staff productivity by 23 percent. If you want to reduce that number and increase productivity, document management is one of the most efficient, cost-effective solutions.
  • And, it’s not just about being more productive. Businesses squander nearly $20,000 per employee, per year because of document-related wasted time. Depending on how many employees you have, that can add up to a significant amount of wasted money and time due to inefficient document practices.

Managing Critical Tasks

  • Shockingly, more than 75% of employees at large organizations do not have PDF editors available to them! Besides the fact that this is a huge productivity killer, it also makes your business appear outdated and incompetent. The good news is that a document management system will ensure that your employees have the appropriate tools they need to get the job done.
  • The average employee shares six files a day via email, making proper control necessary to ensure that files are secure and don’t end up in the wrong hands.
  • And, speaking of email, 92 percent of professional workers work on and review documents via email. This efficient collaborative approach requires DM to track and manage multiple versions of documents and prevent confusion.

Managing Your Business

When it comes to document management solutions, looking at it from a different perspective can help illuminate its effectiveness. The numbers don’t lie—organizations waste a lot of time and money due to ineffective management practices. Document Management from UBS is the simplest, most cost-effective approach to tackling these tasks.

Want to know how DM can help your business, get a complimentary assessment and learn more.

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