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Controlling Costs

Controlling Costs - Overview

As the volume of information flowing through the enterprise increases approximately 50% a year1, there’s no doubt controlling the costs of managing business critical documents is an increasingly formidable challenge.

Yet one of the findings in a recent IDC survey of C-level and IT management showed that many of these executives assumed that their existing document management costs and consequences were insignificant. They didn't realize how much money their organizations were actually spending beyond the highly visible costs of paper, toner, and hardcopy-device hardware.2

Fragmented cost ownership and the distribution and management of various components in the document life cycle across different departments obscured the huge costs, which could be as much as 11% in manufacturing to 15% in healthcare as a percentage of revenue, according to previous IDC research.3

The total management costs over the full lifecycle of business critical documents can be considered in two categories: those that are directly measurable, ‘hard costs’ (e.g. hardware, consumables), and inefficiencies that are less visible and are only measured indirectly (e.g. wasted time spent looking for information).

Though difficult to quantify, it is clear the cost associated with iWorkers’ inefficient access to business information at the right time, in the right form, is far more significant than hardware and consumables.

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