So finding stuff quickly is pretty important. If you don’t think so, click here. But what are the stats? What is the true cost of a high search-to-find ratio?
Studies show that the average worker spends 25 days a year searching for information alone – yep, that’s no typo: 25 days a year. Can you imagine how much that’s costing you in hourly rates alone?
While a typical search for a document in Windows Explorer could take minutes (and doesn’t even ensure that the document found after all this time will be the most up-to-date version), proper document management systems like HowNow solve both these issues in milliseconds.
Most document storage is free, and all document management will cost you money. That’s incentive enough for most accountants (or any professionals) to stick to the former with a kind of if it ain’t broke, don’t fix it attitude.
But let us tell you right now, it’s broken. Really broken.
25 days a year? Yep. Broken.
What most accountants won’t notice (and yet should, given their profession) is that the time (and therefore money) saved with good quality document management systems can easily outdo the cost of such programs.
Let’s take your average 20-person accounting firm. Your document management system may cost you around $200 per week (excluding an upfront payment), and your average employee earns $40 per hour, or $70,000 per year (according to the 2014 Good Bad Ugly survey). If that document management system saves each team member only 15 minutes per week, you’ve already covered the cost, while at the same time increasing your professionalism and improving internal and external communications. And trust us – a proper document management system will save you a whole lot more than 15 minutes a week.
Sound pretty good? Check out HowNow to learn more about how proper document management can revolutionise your firm, and save you some $$$ while you’re at it.