[Note: The opinions expressed in our 5 myths columns are those of the author.]

Myth # 1 – We won’t save that much time or money if we cut paper out of our business processes.

Reality: Time is money! Organizations that effectively use their workforce, technology and innovation can improve customer service, decision making and quality of goods and service. Leveraging an ECM solution can drastically cut the time it takes to get work done, freeing employees to focus on more important, revenue-generating or core organizational activities.

In addition, hundreds of filing cabinets and offsite document storage make finding a specific document more difficult than it should be. White Memorial Medical Center in Los Angeles is saving approximately $100,000 in offsite document storage costs per year with an ECM solution. The cost of transferring paper files to and from the storage facility, and of moving hard copy charts throughout the hospital, has been reduced by nearly $20,000 per year.

Myth #2 – The ROI for ECM systems is mostly about reducing paper consumption.

Continued at5 Myths About ECM ROI – Digital Landfill.