There are plenty of reasons for a digital transformation, and cost savings are without a doubt foremost among them. In the same vein, there are plenty of lists detailing the ways that content services saves you money. But not all benefits of document management solutions show up in the hard numbers. Some of the greatest return on investment from content services is in the form of efficiency, and efficiency can’t always be measured in a budget spreadsheet. Here are four less-obvious ways you maximize your gains by using a content management system.
By transferring the invoices, tax forms, memos, request forms, and other regular paperwork to an electronic system, content services guarantees savings. This manifests itself in obvious ways, like savings on paper, toner, ink, equipment maintenance, etc. But don’t miss the larger savings that come close behind. It costs an enormous amount of money to store and manage paper documents. The square footage for filing cabinets, the cabinets themselves, and the hours spent filing, sorting, and retrieving papers cost a company thousands of dollars annually. By switching to electronic storage, you are gaining back man hours, space, and operational costs all at once.
The “what ifs” of running a company are no joke. It’s important to remember that natural disasters, security breaches, and internal mistakes can happen to anyone. In the case of fire, flood, theft, or other disasters, your company could lose everything. Or, if you have invested in a content management system, everything could be restored. One of the greatest ROI of content services is peace of mind. While this won’t affect your budget, it will make a difference in your strategy and effectiveness. By entrusting your data and documents to MaxxVault’s content services platform, you gain security you could never have with paper documents.
In the past when an employee was “out of the office,” they were basically unreachable and all of their projects remained on hold until they returned. A content management system eliminates this divide between on-site employees and their traveling counterparts. Instead, thanks to mobile access, your staff can access necessary documents, data, and communications from around the world and at any time of day. This means that time that was formerly considered “lost” (like waiting for a flight at the airport or in between meetings at a conference) becomes productive. Additionally, research has shown that flexibility and mobility increase employee job satisfaction, meaning your staff is more loyal and you experience less turnover long-term.
The time it takes to complete business tasks is directly related to their cost. While a balance sheet won’t show you the hours lost to inefficient project management, the better workflow tools you have, the greater your returns. A content management system maintains all project-related documents at your fingertips, allowing your employees to accomplish tasks in record time. But don’t forget the additional workflow capabilities! By automating project management, you save even more. The system notifies each employee when it requires their input. There are no more weak links, and your teams meet deadlines with ease.
A content management system will save you money. In fact, the financial benefits are typically significant and immediate. But there is far more ROI than just a better bottom line. By investing in document management, you also regain peace of mind, employee engagement, and physical space. If you want to learn more about the ROI of a content management system, contact MaxxVault today.