Process management can become more efficient by reducing the process life-cycle by up to 75%, namely in key processes for the organization, such as payments to suppliers, contract management, human resources, and company core business processes.
The cost of paper
Let’s not forget that paper-based processes are a waste of time and take information workers away from more productive, high-value tasks.
In carrying out their daily tasks, many are flooded with information and hampered by inefficient, paper-based business processes.
Moving paper through your organization without first converting it to electronic format is notoriously slow. Information workers waste time capturing, storing, and forwarding documents to others due to manual processes.
In turn, these tedious manual processes reduce operational efficiency and create a disconnect between documents, resulting in delays and errors, as documents move between critical business functions such as procurement, accounting, sales, and HR.
In fact, according to a 2012 IDC (International Data Corporation) White Paper, in an organization with 1000 employees, work-related productivity losses of dealing with a variety of document-related challenges are equivalent to hiring 213 new employees. That is, a productivity loss of 21.3%.
Many organizations have already decided to focus on digital solutions for every new opportunity or issue (digital-first thinking), undertaking a cultural shift from being a traditional organization with paper-based processes to an approach built on digital-based processes.
More efficient operations
By adopting digital solutions in managing documents and processes, organizations are able to improve those same business processes, and substantially increase their productivity.
Organizations — regardless of the industry — process large amounts of paper and digital documents. In fact, the average American office worker alone uses 10,000 sheets of paper annually. If you apply this statistic to an organization of 100 or even 500 employees, you will quickly arrive at the volume of documents circulating through organizations.
Organizations generally perform better when they capture, store, access and manage documents quickly and efficiently. Without the inconvenience of inefficient workflows, without the difficulty of finding the information you want, or the feeling that a file has disappeared.
Your organization will most likely be no different, and you certainly acknowledge the inefficiencies of managing all these documents, and the impact that manual processes have on your productivity.