THE PROBLEM : CONTENT CHAOS
The root of our problems can be traced back to one issue - something we call Content Chaos. The business and educational worlds have come to accept this as the status quo. Until now. What exactly IS Content Chaos? Let's use the example of a school district:
Content chaos and the lack of management manifest themselves in many ways, creating many serious problems:
Accessing vital information takes too long. Staff members have to look in multiple places to find documents and/or electronic files. Spending only 30 minutes a day trying to find information equates to 16 days of lost productivity per staff member, per year.
Just how much real estate is lost thanks to antiquated file cabinets? Could you put that space to better use? According to the Association of Record Managers & Administrators, each file cabinet costs you $1,400 per year in real estate, supplies and other costs.
There are currently over 14,000 laws and regulations that govern how documents should be filed, managed, secured, retained, and destroyed. Are you in full compliance with all of those that affect you? One simple case of a stolen backup disc recently cost a small organization $750,000 in HIPAA fines.
Lack of Secure
Lost Files and
eDiscovery costs can bankrupt a school overnight. Restoring uncatalogued emails alone can cost over $14,000 per staff member, per year. The costs of restoring, processing and cataloging only 2500 documents in a recent case cost over $400,000 in legal fees.
How sure are you that only the right staff members are accessing your sensitive documents or electronic files? Are you sure enough to bet against tens or hundreds of thousands of dollars in fines due to a security breach?
Who hasn't experienced a lost document or worse yet, an entire file? According to ARMA, between 1% and 3% of all documents are misfiled or lost - you just don't know it. Yet. Recreating a lost document can waste another 8 hours of valuable staff time.
How much do you spend each year on copy paper and toner? How about postage and courier costs? Document management users report cost reductions of 75% and 67% respectively, after just one year.
A solid backup plan can protect your data. A good insurance policy can replace your property. What protects your physical files and documents?
In a paper-based world, how can you track and monitor who is accessing or trying to access what documents and records? Could you prove who did or did not access what information immediately prior to a data breach?
The best way to combat Content Chaos and all of the ways it rears its ugly head is a well-implemented document management system. (Bet you didn't see that one coming did you?) Seriously, though, there really are quite a few requirements within the sea of regulations that you simply cannot accomplish without a true document management system in place.
To that end, a good document management system will allow you to efficiently accomplish the following four tasks:
CLICK HERE to learn more about DocumentLOK™ - the award-winning document management platform from Bull Valley Software, and how it can address these needs and more.