Calculating and measuring ROI (return on investment) isn't always easy, especially when there are so many complex workflow solutions out there. Document management, however, defies this rule. It's actually not too difficult to measure ROI for document management--and here's how.
Is Document Management Worth It?
One of the best things about document management is that it's painless. There are no difficult new processes to contend with and no insanely complex applications to learn--and that's because document management was designed not only to be intuitive but also to adapt to your company's unique way of doing things. Because of this, it's much easier to measure ROI for document management; when installation, integration, and adaptation are a breeze, you're almost guaranteed a high return on investment. If you want to be sure that document management is worth it, though, here are two great ways to calculate ROI.
#1: "Would you ever want to revert to your old processes?"
This is a great way to tell whether document management has a high ROI because the answer says it all: overwhelmingly, people say no. The efficient processes, money-saving techniques, and streamlined workflows provided by document management are absolutely worth it. If document management saves more money than it costs (which it does) and saves more time than it spends (which it does), you can rest assured that the ROI is plenty high.
#2: "How important is document management across your company?"
Yet another great choice, this question allows you to measure ROI by seeing what problems document management helps you avoid. In most cases, document management is considered "mission-critical" because it helps prepare for digital emergencies, data problems, and human error--and that's well worth the minimal time, money, and effort that it takes to get started.
The ROI for document management is certainly intriguing. To see for yourself, contact us today!