|Many companies question spending money on technology because the benefits often appear too intangible… hard to argue with that!
Worldox Document Management software is one of the very few investments your firm will make that offers a tangible, believable Return on Investment (ROI). Imagine a 100% ROI within four to six weeks. The Worldox ROI proposition encompasses many factors, from document organization, to email management, to document security.
However, in terms that are relevant to every owner, administrator, manager, and worker consider the following:
Studies show that the average knowledge worker spends 30 minutes to as much as an hour a day looking for lost or misplaced documents, and the content contained in those documents. We'll use a law firm and their staff as the examples, but the principle applies across all businesses. If we assume that the average lawyer works 250 days a year, let’s also project that he or she spends anywhere from 125 hours to 250 hours a year looking for documents. At a median hourly rate of $150.00, a single attorney may lose anywhere from $18,000 to $36,000 billable time over the course of a year, looking for and reviewing documents. The same calculation works for billable staff.
Document management solutions provide an immediate ROI for firms that
For more document management ROI analysis or to calculate your firm’s potential ROI, click here.