Download Identifying and Addressing New Areas of Cost Reduction

Enterprise Content Management
Identifying and Addressing New Areas of Cost Reduction
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Our Top Areas for Immediate Revenue Impact
How Things Work Now
After Implementing ECM Software
Manual, time-intensive paper shuffling
Automated filing, routing, approval and
more
Lost and misfiled documents keep staff
from having insight into processes
Better decision-making around issues
that impact our bottom line
Information silos prevent collaboration
Scalable across teams, making
information easy to share
Continually increasing operating costs
Low risk, moderate investment with
quick ROI
ECM Has a Rapid ROI
Investment
Incremental Revenue
• ECM software = $<insert
value>/month
• Services = $<insert value>/month
• Estimated incremental revenue =
$<insert value>
ROI =
Incremental revenue – monthly cost
Monthly cost
=
<insert value> - <insert value>
<insert value>
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= <insert value>%
Save Time
• Instantaneously answer
information requests from
auditors, clients and
customers
• Keep track of documents
that must be viewed and
signed by other personnel
• Use time more wisely
Employees spend 20% of their
day looking for information in
hardcopy documents and only
find what they need 50% of
the time.
Increase Efficiency
Staff Efficiency as a Percentage of Revenues*
Business size
(annual revenue)
$500k
$1 million
$4 million
Back-office staff
costs as a percentage
of annual revenue
24%
($120,000)
27%
($270,000)
23%
($920,000)
Efficiency Savings
4.8%
($24,000)
5.4%
($54,000)
4.6%
($184,000)
Raise the Bottom Line
• 5-year ROI of 404% (IDC)
• 50% of organizations see
payback as early as 6
months (IDC)
• $1-5 savings per document
after implementation
(EDI Group, Ltd.)
• 40% document-related cost
reduction (Gartner)
Increase Collaboration
• Access documents from
desktop, laptop, smartphone
or tablet
• Integrate seamlessly with our
website
• Balance accessibility and
security
Automate Processes
• Recapture lost hours
• Reduce overhead
expenses
• Increase profitability
• Improve service levels
The Value of Accounts Payable Automation
The average cost of processing an
invoice in an environment with a
low level of automation can be up
to 20 times greater than in an
environment with a high level of
automation.
Source: IOMA
The Value of HR Automation
The average cost of processing an
expense report in an environment
with a high level of automation is
39% lower than in an environment
with a low level of automation. For an
organization processing 1,000
expense reports monthly, that’s an
annual savings of $97,680.
Source: The Aberdeen Group
Potential Investment Requirements
Investment Area
Potential Investment Needs
ECM Software
• A new system for creating, storing and managing
electronic documents
Computing and Network
Technologies
• Additional scanners
• Mobile devices
• Data storage systems
Process Integration
• Needs analysis and application design
• Development and testing
• Rollout
Training
• Online or in-person training resources for
employees and other users
Shared Services
• Realigning work functions to take advantage of the
efficiencies and cost savings enabled by electronic
documents and automated workflows
Next Steps
Today
6 months
Stage 1
Stage 2
Stage 3
Select aStage
Vendor
1
• Industry expertise
• Functionality
• Community
• Educational resources
Planning Stage 2
• Where to start?
• Metadata/ templates
• Folder structure
• Workflows
• Integrations
Implementation
Stage 3
• Build out folders,
templates and
workflows
• Testing
• Training
• Go live
These are suggested stages for implementing an ECM project. Replace as you see fit, then
remove this bar.
Summary
Benefits
Solution
ROI
•
•
•
•
• Adopt ECM
technology
• Make better use of
existing applications
• Estimated ROI:
<insert value>%
• Large potential
benefits with small
incremental
investment
Save time
Increase efficiency
Raise the bottom line
Increase collaboration among
departments and customers
• Automate important processes
like HR, A/P and more
Populate ROI value, then delete this bar.
Laserfiche ECM software builds on
existing business processes, making
them smarter, faster and more
efficient.
• Launched in 1987
• 34,000+ worldwide installations
• 300 employees in 9 offices
• 20% Growth annually
• Microsoft Gold Certified Partner
• 94% client satisfaction rate
Microsoft Gold Partner
Featured in ECM MQ
“2013 Leader in ECM”
“Company on the move”
“Outstanding Pick”