The Facts around Document Management
The Business Environment Today
“82% of organizations say documents are critical to the successful operation of their business (1)”
The pressure to increase profits, improve productivity and reduce costs is greater than ever. So too, is the need to increase quality and customer retention. The question is ‘how?’
 Like many organizations, you’ve probably already examined the costs and processes in areas such as logistics and IT. You are continuously looking for improvements but with so much already accomplished, additional efficiencies are increasingly hard to find. So what else can you do? One area that many organizations have overlooked in their quest for increased profitability and process improvement is document management.
Learn how your organization can effectively manage the processes and cost of document management with Fuji Xerox Global Services.
The Importance of Documents
“ 7.5 billion documents are produced worldwide each year (2)”
From digital documents on your web and PCs, to the overwhelming amount paper-based documents such as invoices, contracts, statements, marketing collateral and direct mail, documents are everywhere. They are the lifeblood of your business.
- Documents are the product
(e.g. customer contracts, insurance policies)
- Documents support products
(e.g. mobile phone user manuals ,product brochures)
- Documents support critical business processes
(e.g. accounts payable and receivable, credit card applications)
 82% of senior executives believe that documents are critical to the successful operation of their organizations yet vast majority of organizations (90%) are not able to estimate how much they spend on documentation.
The truth is that organizations spend up to 15% of their revenue on documents. That’s a major overhead. Fortunately, Fuji Xerox Global Services can help save on document management while give your entire business an overhaul with accelerated workflows, enhanced competitiveness, increased revenue growth and improved customer satisfaction.
Document Outsourcing
“ 70% of executives claim that the delay in updating documents in line with business requirements would make their organization less agile (1)”
Business fact: Most successful organizations outsource
According to The Outsourcing Institute, 80% of Fortune 500 companies outsource some or all of their information management functions.
Essentially, outsourcing can and will:
- free up management time and allow you to focus on your core business
- reduce costs and releases financial capital for investment in higher return activities
- give you access to world-class skills and specialist knowledge that aren’t available within your organization
- increase the quality and capacity of your organization and help you do more with less
As many of the world’s leading companies will confirm, outsourcing pays.
It Pays to Outsource Documents
“ 1 in 5 workers spend at least 60% of their time dealing with documents (3)”
 Documents play a critical role in increasing productivity, improving customer service and reducing your cost base. Document management outsourcing enables organizations to increase their business value by tapping into the well-managed pool of knowledge attained through the support of the professional document solutions provider.
Accessibility to knowledge is crucial since studies have shown that only around 12% of organizational knowledge today is in easily accessible form. The largest amount – nearly half – is trapped because of technical incompatibilities leading to your most valuable assets being tied up and deemed unproductive.
Through document outsourcing, organizations today will benefit in terms of:
- streamlined processes
- faster processing of critical documents
- more accurate fulfillment of legislative and regulatory requirements
Today, every bit and piece of information created is important. Great companies have an edge over average companies because they have excellent management approach in handling their knowledge resources.
Sources:
1- Documents − The Life Blood of Your Business, IDC 2003
2 - University of California, Berkeley
3 - Xerox / MORI survey of European Directors, 2002
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