Document Management Problems faced by customers currently
Many businesses struggle with document management. Here are some of the most common problems:
Lost or misplaced information
According to a study by IDC, knowledge workers spend 3.5 hours weekly searching for information that is never found and 3 hours a week recreating that lost content.
Information overload
Knowledge workers spend more than 27 hours a week searching, gathering, and analyzing information.
Inefficient business processes
It costs more than $50 on average to process and manage a paper invoice.
Compliance issues
Organisations are under more pressure than ever before to manage fixed content for compliance and risk reduction purposes.
Lack of integration with other applications
Many applications need fast and accurate access to archived content, but it is rarely accessible.
Costly real estate being used for hard copies storage
Businesses spend a lot of money on storing hard copies of documents.
These problems can lead to several negative consequences, including:
Reduced productivity
Employees spend a lot of time searching for and managing documents, which takes away from their ability to focus on their work.
Increased costs
Businesses spend a lot of money on document management, including the cost of storing and retrieving documents, as well as the cost of lost productivity.
Increased risk
Businesses are at risk of fines and penalties for non-compliance, as well as the risk of data breaches and other security incidents.