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Document Scanning Produces Quick ROI

 

With the new year quickly approaching and a stagnant economic forecast, there is a lot of talk right now about the IT forecasts for the coming year. A recent AIIM survey of end users found that 42% or organizations see hard dollar ROI as "more" or "much more" important than 12 months ago. On a positive note, the same survey showed that only 27% of organizations expect IT spending to decrease. This news is encouraging for companies considering document scanning services. Why? It is a technology that delivers fast, demonstrable ROI in a number of ways. Just a few examples:

  • Cuts operating costs – hard dollars are recovered by lowering the costs of resources, materials, courier and fax charges, and storage related to paper processes
  • Increases worker efficiencies – replacing manual, labor-intensive and error-prone paper-based processes with electronic workflows allows you to get more value from your existing employees, reducing the need for expanding your workforce
  • Leverage your IT systems – businesses aren’t fully benefiting from software investments because information/data that exists in paper form isn’t being processed as quickly or securely as the information that resides in those systems.

As you can see, these examples show that document imaging ROI is typically process-oriented. But BPM and other process automation methods and technologies are at risk of being put on hold due to tightened budgets and a track record of taking a long time to implement and even longer time to demonstrate ROI. This new year is definitely the year to look at eliminating paper from typical business processes such as invoice processing, expense reporting, purchase orders, employee on-boarding, recruitment, contract management, loan processing and so on.

If you can demonstrate immediate ROI by using document imaging to improve business processes by integrating paper into electronic workflows this year, it will go a long way towards a successful business process management initiative in the future.

This presentation features Forrester Analyst Sheri McLeish discussing the costs and benefits of imaging investments and how organizations have been able to gain additional flexibility as a result.