10 Fast Facts About the Value of Document Management
John Mancini

By: John Mancini on October 27th, 2008

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10 Fast Facts About the Value of Document Management

Document Management

Pam Doyle, from Fujitsu, gave an incredible presentation at the AIIM roadshow in Chicago which contained some interesting “fast facts” about document management that I thought were worth repeating. These reminders of the value of document management are particularly relevant given the coming tightening of IT resources:

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  1. Companies spend $20 in labor to file a document, $120 in labor to find a misfiled document, and $220 in labor to reproduce a lost document.

  2. 7.5 percent of all documents get lost; 3 percent of the remainder get misfiled.

  3. Professionals spend 5 – 15 percent of their time reading information, but up to 50 percent looking for it.

  4. The average document photocopied 19 times.

  5. There are over 4 trillion paper documents in the U.S. alone and they are growing at a rate of 22% per year (PricewaterhouseCoopers).

  6. Corporate users received an average of 18 megabytes (MB) of e-mail per day in 2007; E-mail is expected to grow to over 28 MB per day by 2011.

  7. Users send and receive an average of 133 e-mail messages per day (Radicati Group).

  8. A single FAX machine costs $6,200 per year (Captaris); the average time to manually FAX a document is 8 minutes.

  9. The average cost to send a package via courier service is between $8 and $15.

  10. The cost of office space has increased 19% (Office Space Across the World 2008).

The benefits of document management are obvious, but seeing maximum ROI requires a well thought out strategy. It sounds obvious, but you would be shocked by how many organizations set out to manage their information assets without a plan. To help get you started, here are my "Ten Commandments for an Effective Document Management Project."

 

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About John Mancini

John Mancini is the President of Content Results, LLC and the Past President of AIIM. He is a well-known author, speaker, and advisor on information management, digital transformation and intelligent automation. John is a frequent keynote speaker and author of more than 30 eBooks on a variety of topics. He can be found on Twitter, LinkedIn and Facebook as jmancini77. Recent keynote topics include: The Stairway to Digital Transformation Navigating Disruptive Waters — 4 Things You Need to Know to Build Your Digital Transformation Strategy Getting Ahead of the Digital Transformation Curve Viewing Information Management Through a New Lens Digital Disruption: 6 Strategies to Avoid Being “Blockbustered” Specialties: Keynote speaker and writer on AI, RPA, intelligent Information Management, Intelligent Automation and Digital Transformation. Consensus-building with Boards to create strategic focus, action, and accountability. Extensive public speaking and public relations work Conversant and experienced in major technology issues and trends. Expert on inbound and content marketing, particularly in an association environment and on the Hubspot platform. John is a Phi Beta Kappa graduate of the College of William and Mary, and holds an M.A. in Public Policy from the Woodrow Wilson School at Princeton University.