Here is a picture I took today on my way to a business meeting. It reminds me that using Laserfiche would help avoid a disaster if something like this happened to us. See http://larry-phelps.com/floods-in-missouri for more info on floods and how to be prepared.
A study done by the Delphi Group (copyright 2011), “The High Cost of Knowledge” has some important details that I think you will be interested in. In a survey of over 1000 office workers in mid to large size companies, they asked “how much time do you spend searching for information to get your job done”.
The answer to this question may surprise you. In the age of high speed personal computers, electronic document management systems, and access to such things as Google, the response to this survey question was:
– 66% spend at least 15% of their day searching
– 39% spend over 25% of their day searching for information.
The chart above shows the details by percentage of the day.
What is surprising to me is that the results of studies done in the ’90’s were about the same as this recent study. From this information, it is apparent to me that even with the advancements of technology, the average user is still very inefficient.
There are several things that I think contribute to this inefficiency. First, is that the information and systems that a worker much search for information has become increasing complex. And secondly, due to the down-sizing of organizations, workers are now doing the jobs that several workers were doing previously.
What is the solution? I think that implementing document management systems, such as Laserfiche, that have extremely efficient search capabilities and have the ability to automate business process with workflow will help worker increase their efficiencies.
I liked the conclusion that the Delphi Group ended their article with: “Ultimately our ability to provide knowledge workers with better tools with which to do their jobs will determine how quickly we can accelerate the growth and economic prosperity needed to create new innovations and new jobs – making this jobless recover and every future one as short as possible!”
The tools are available to make workers more efficient. In this past year I have helped organizations implement Laserfiche Document Management and Workflow software. I have seen amazing increases in user productivity using this tool, Laserfiche.
People often ask me isn’t document imaging really expensive compared to using paper. Good question!
If you knew what your paper systems are costing you, you would probably set your sights on this new target …
… saving money by using paper-less technology.
Here are what experts are saying about how costly paper is to your organization:
Professionals spend 50 percent of their time searching for information, and take 18 minutes to locate each document on average. -Gartner Research
Companies typically misfile up to 20 percent of their records – thus losing them forever. -ARMA International
$14,000 worth of productivity is lost per worker per year due to their inability to find the data they require to do their job. -IDC Canada
A study conducted by The Delphi Group in 1999 found that 90% of typical office tasks still revolve around the gathering and distribution of paper documents. While 15% of all papers are lost, 30% of our time is used trying to find these lost documents. Companies on average spend $25,000 to fill a typical four-drawer file cabinet, $2,000 to maintain it each year, and over its life-span, a single sheet of paper ends up costing an average of $30. -Delphi Group
US companies spend approximately $20 on labor costs in order to file a document, $120 on the labor required to find a misfiled document and $220 to reproduce a lost document. -Coopers & Lybrand
For companies that manage their own files, employees spend between 20-40% of their time searching for documents manually. -Coopers & Lybrand
90% of documents that are consulted daily are handled without any appropriate management. -Coopers & Lybrand
For lost documents, companies pay a cost of searching, 6 times the value of the original document. -Coopers & Lybrand
Companies that need to redo documents pay 11 times more than the cost of the original document. -Coopers & Lybrand
Out of all documents generated, up to 7% are lost. -Coopers & Lybrand
Employees spend more than 50% of their time searching for information. -Coopers & Lybrand
Paper files are doubling every 3.5 years. -Coopers & Lybrand
The average document is copied 19 times. -Coopers & Lybrand
Each day one billion photocopies are made -AIIM, Forrester, Star Securities, US Department of Labor
A recent Price Waterhouse study provides evidence that document imaging could have a very quick ROI for your organization.
They searched 10,000 documents looking for a specific topic, author, and date range. A manual search of the paper files performed by a staff of paralegals took 67 hours and found 15 documents. The same search performed using a document imaging system took 4.5 seconds and found 20 documents.
What is the cost if a law firm cannot find 5 critical documents?