As the volume of information flowing through businesses increases approximately 50% a year*, 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 realise how much money their organisations were actually spending beyond the highly visible costs of paper, toner, and hardcopy-device hardware.*
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 costs associated with inefficient access to business information at the right time, in the right form, is far more significant than hardware and consumables.
So what can you do?
Companies deploying Managed Print Services (MPS) and Managed Document Services (MDS), which are end-to-end solutions where a supplier manages a range of non-core print-related services, are leveraging service providers’ knowledge of processes, experienced staff, and investment in leading-edge technology to achieve impressive results:
* 48% to 55% savings in reduced ink and toner consumption, fewer repairs and reduction in hardware costs*
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* 18% to 27% savings through using less paper, reducing IT headcount, streamlining document workflows and external print procurement*
* 7% to 14% savings from fewer help desk calls, improved paper document storage and reduced environmental impact*
The savings achieved in directly measureable hard costs, combined with the efficiencies from streamlining document workflows are the kinds of results organisations are looking for. Companies deploying MPS or MDS are experiencing average savings of 25%, and even more in some industries.*
Organisations such as Geoscience Australia and banking giants Westpac, Commonwealth and National Australia, are using Ricoh managed services so they can better control costs throughout the document lifecycle, avoid more capital-intensive investments, and evolve static infrastructure to more responsive solutions. Controlled costs through more efficient processes can free resources and time to devote to increasing competitiveness and revenue generating initiatives.
*Statistics sources from IDC, The Digital Universe Decade – Are You Ready? – May 2010, Sponsored by ECM and IDC Whitepaper sponsored by Ricoh, Managed Print and Document Services for Controlling Today’s – and Tomorrow’s – Information Costs, January 2011.