According to the recent global IDC study of 1,516 document-driven business process owners and information workers, the costs and risks associated with broken, inefficient document driven business processes are extremely high, and worse than many executives think. To better inform you of the IDC findings, we made a blog series on some of IDC’s busted myths on Managed Print Services.
Inefficient and ineffective document-driven processes are common in any office environment. The incidence that a computer would crash, a printer would not print, copiers would get jammed, networks would slow down, or security would be breached in a document-driven workplace is relatively high. However, many underestimate the risks involved when such mishaps occur in a workplace. They believe that improving these processes would only save them money and nothing more.
Yet according to the IDC survey, process owners reported that over a third (35% – 45%) of the document-driven business processes they have personal knowledge of are inefficient or defective. Moreover, 75.9% of these companies experienced significant business risks and/or compliance incidents and suffered severe consequences as a direct result of these ineffective document processes over the past 5 years.
Due to broken document processes, corporations continue to overspend on documents without realizing it. IDC estimates that the overall cost of process failure is at least 10 times the direct out-of-pocket costs. This involves paying financial settlements, staff time and executive oversight for activities such as required rework and process reviews, as well as opportunity costs associated with lost customers.
Seeing that ineffective document processes are costing companies in terms of fines, lost customers, lost employees, PR crises, and data breaches with high probability, such issues should not be taken lightly by business process owners. Thus, IDC suggests that such high impact risks should merit C-level attention and expertise of a document personnel such as a Managed Print Services Provider.
Officia Imaging provides high-quality office equipment and document management solutions to thousands of businesses throughout California. We have the technical expertise to help our customers increase productivity and save money while our award-winning service and company-wide commitment to customer satisfaction result in long-term customer relationships.
As Document Experts, we strive to make critical investments in training and technology so our customers achieve maximum productivity with all of their document output and storage needs. We offer a no-cost Environmental Print Study to help you identify your total actual document costs and recommend a Managed Print Services solution tailored to your specific needs and aligned with your business goals.
Improve Your Document-Driven Processes with Officia Imaging Managed Print Services and —Make a Great Impression.