Each of these technologies has behind it extensive research demonstrating and quantifying its business benefits. However, when it comes to individual technology investments, many businesses find it difficult to measure specific returns on their investments. How much money did we save by making information easier to find? Are our compliance measures actually saving us anything or are they just a cost centre?
One of the most appealing aspects of a production-oriented ECM system like DOXIM is how it can very quickly generate measurable savings that pay for the initial investment. Production-oriented systems fit into well defined, document-centric business processes and deliver very clear savings and efficiency gains. What’s more, they do this on a large scale, shaving cost from the most common transactions and reports a company engages in.
DOXIM ECM is built for production-strength content management that can integrate into any business process to replace paper documents with their electronic equivalents. This can cut operating costs and increase productivity in a number of ways.
Print / Mail costs: For business processes involving mass digital printing and mailing, such as bills and statements, ECM can be used to enable electronic billing and statements. Costs vary, but a good rough estimate is that printing and postage costs for a bill or statement run at approximately one dollar per piece. Thus for a customer base of 10,000 receiving one statement per month, a readily achievable suppression rate of 20% translates into $2000 per month in savings.
Storage / Retrieval: Operating considerations and compliance requirements typically require that key business documents be archived, sometimes for many years. If this archival is done in hardcopy, the storage costs alone can quickly add up. When documents need to be retrieved, the time and effort required by staff to find the correct file can generate substantial labour costs. Electronic storage and retrieval of documents eliminates both these cost centres.
Operations: Beyond monthly mail-outs and archival, key business documents are routinely accessed and exchanged between departments and organizations. When this is done with paper records and couriers, hidden costs and delays can be a constant drain on productivity. Simply by pointing to an electronic record, a document can be shared instantly and for no cost, no matter how far apart the two parties.
How can DOXIM help you lower costs and increase productivity?
E-Statements: Suppress printed statements and bills to reduce production costs.
Paperless Lending and KYC: DOXIM integration with your existing paper-based system or your Loans Origination System can reduce unnecessary printing, couriering and storage of paper records, and improve efficiency by allowing instant retrieval of archived records.
