According to a study by the International Data Corporation (IDC), “U.S.-based companies spend $25 billion to $35 billion processing (filing, storing and retrieving) paper. Management of documents over their life cycle pushes that figure up to $100 billion per year.” It is no longer a matter of “if – rather, what businesses should consider before buying a document management system (DMS).
As you search for the right DMS, it is important to look for a solution that will eliminate existing aggrevations while also aligning with current business goals. The wrong choice can be detrimental, costing additional resources when data goes lost, putting your company at risk for exposure. But don’t take it from me…
Here is a letter straight from your file cabinet.
I am your scariest employee. A monster, really.
I lurk in the corner, eating up your time and profits with endless games of hide-and-seek. Whether you find that misplaced employee file or not, I win, because you just spent 45 minutes looking for something that should’ve taken only two. Go ahead and slam my drawer shut when you leave. I’ll slowly roll back open and greet your shins when you come back.
The truly “lost” documents, though — those are my favorite. You search for hours before finally giving up, and I get to watch you go through the Five Stages of Lost File Grief:
Denial – “I know it’s here somewhere.”
Anger – “Who files by FIRST name??”
Bargaining – “Maybe it’s in storage.”
Depression – “Why am I still even looking?”
Acceptance – “I’ll just make a new one.”
(By the way: That file was on your desk. Or was it?)
It’s not just your visits that make my job so worthwhile. It’s knowing all the extra time and money you’ll have to spend as a result of not finding that HR document: researching, printing, filling out, copying, filing, finding the old one (surprise!), starting over …
And the fines. Oh, the noncompliant, you-missed-a-reporting-deadline fines. Those scare even me.
If only you could calculate just how much of your time and money you waste filing paper documents, you would shudder. But luckily for me, no such calculator exists.
See you soon! (Watch your step.)
—Your File Cabinet
P.S.: You’ve probably heard of some Document Management Calculator that can tell you how much time you waste looking for employee documents. It’s a myth. For that matter, so is a single-database human capital management solution that manages all your employee documents securely in the cloud.
Do you know what your file cabinet is costing you? Find out with our free Document Management Calculator.
Original Artwork by Tyler Kelting.