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The value of DocLib is all about your return on investment. And we have the numbers to prove it.
Yes, DocLib’s suite of applications improves efficiencies and helps your bottom line - but we can demonstrate this enterprise document management system pays for itself quickly. We do this through an intensive return on investment study of your company, researching the elements of cost and efficiencies, and demonstrating how DocLib can bring these expenses down.
PICS has done several ROI studies for single location companies, as well as international, multi-site enterprises.
Clearly, ROI depends on a number of often-changing factors – however, assessing operations in specific working areas where companies could deploy DocLib – even on a limited scale – the cost savings would be dramatic.
After meeting with key members of the operations and management teams for the companies we are studying, we found - if the business integrated DocLib into its operations - some major cost savings would be realized.
A US-based heavy equipment manufacturer – running QAD - was looking for a way to simplify its Accounts Payable process. After the first round of study, PICS discovered some significant savings:
ROI Summary for Accounts Payable – DocLib Implementation
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Monthly |
Yearly |
| Automation of three-way match |
$264.00 |
$3,168.00 |
| Automation of voucher process |
$4,025.00 |
$48,300.00 |
| Workflow status report (eliminating log to track issues) |
$352.50 |
$4,320.00 |
| Time saved in not having to reprint documents in QAD |
$120.00 |
$1,440.00 |
| Documents stored in database (replacing filing) |
$264.00 |
$3,168.00 |
| Missed Opportunity to take supplier payment discounts |
$352.00 |
$4,225.00 |
| Time saved in assembling documents for annual audits |
$167.00 |
$2,000.00 |
| Sub total |
$5,544.50 |
$66,621.00 |
| Payback Period |
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Other Tangible Cost Savings
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Eliminate cost of off-site storage
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Version/audit trail control for compliance requirement
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Elimination or Price variances
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Automation of approval processes
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Time it takes for staff locate interrelated documents
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Automation of approval processes
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Time saved in issue resolution
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Better Security and control for internal document access
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After adding up these -- and thousands of dollars more in other potential cost savings – PICS found the company could recover its investment in DocLib in less than a year!
DocLib is a cost-effective way to make your enterprise more efficient, while delivering value throughout your company. It could be the best investment you will ever make for your business.
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