September 27, 2011 - A majority of executives reported that their organizationís top business goal for this year is to reduce costs, closely followed by increase revenue and improve operational performance. The executives also assert that, because it positively impacts their organizationís ability to meet these goals, document process management is a priority. Spending for document management activities is expected to increase or remain level during the next 12 months.
These are a few of the important findings highlighted in a comprehensive survey report issued today by Ocť Business Services. "The Goal Standard: How Companies Leverage Document Management to Help Meet their Top Business Goals" examines how organizations are leveraging document management processes including mail, records and print/copy center management, managed print services (MPS) and document imaging to help meet their key objectives this year and through 2012.
One trend uncovered is that more than a third of the organizations surveyed outsource some or all of the document management activities included in the report. According to respondents, the strongest area for outsourcing is mail/shipping management (45%), followed by MPS (40%), document imaging (37%), records management (35%) and print/copy center management (35%).
The key drivers behind why organizations outsource vary by document management category. For print/copy center management, companies outsource in order to concentrate more time and resources on their core business. Other reasons include: optimize the utilization of document output equipment (MPS); consolidate mail/shipping activities to increase efficiency and reduce costs (mail/shipping management); and deploy a more fully implemented records management program (records management). According to the survey, the top two reasons why organizations outsource document imaging are to streamline access to data and improve the efficiency of customer service.
In addition to investigating budget plans, the survey also asked executives to spotlight key program implementation details for two highly-rated document management activities: MPS and document imaging. The survey findings clarified untapped opportunities for both processes.
MPS opportunities for many companies include implementing asset management, electronically monitoring equipment and establishing user support, such as a call center. In the document imaging arena, a significant number of companies have implemented imaging on a department level (such as accounts payable). However, implementing imaging throughout the organization or on a division level represents an opportunity for many companies.
"According to industry estimates, during the past few years organizations have been spending about one to three percent of their revenue on activities related to printing, copying, scanning and faxing," said Joe Marciano, president and CEO, Ocť Business Services. "Our current and previous surveys indicate that while this spending level has not significantly changed, one thing has: companies are more aware of how better managing these document processes can help them reach their top business goals."
"The Goal Standard: How Companies Leverage Document Management to Help Meet their Top Business Goals" is comprised of 105 online surveys completed by executives responsible for document management processes. These include C-level officers as well as directors and managers of facilities, procurement, administrative services and operations. A cross section of industries is represented including business services, manufacturing, financial services, insurance, legal, technology and others. Among respondents, 45 percent work at organizations with annual revenue under $100 million, 40 percent have revenue between $100 million and $5 billion, and 15 percent have revenue over $5 billion.
The full survey report is available by visiting www.obs-innovation.com.
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