Although there is no doubt that document management systems are becoming more popular in today's business world, the question remains whether to deploy the solutions onsite or hire a third party and give them the responsibility of maintaining mission-critical resources.
A recent study conducted by Research Now revealed that the prospect of reducing expenses was the No. 1 reason why organizations transitioned third-party document management solutions onsite. Although 84 percent of survey respondents said they didn't experience any negative financial impact outsourcing to a trusted service provider, a number of decision-makers said they saw substantial savings when using on-site document management systems. These benefits often related to reducing expenses associated with storage and retrieval fees, shredding costs and copying charges.
A separate report by CompTIA noted that approximately 49 percent of businesses believe the costs associated with document management will be "higher" or "significantly higher" in 2013 than it was in 2011, compared to only 14 percent that think the costs will be "lower" or "significantly lower." Another 37 percent believe document management charges will remain the same. For this reason, many decision-makers are looking to implement the most cost-effective solutions available on the market.
The ability to enhance efficiency was another reason why organizations switched to in-house document management solutions. Research Now found that roughly three-quarters of companies using an off-site document management provider did not believe the vendor's solutions positively impacted operations. Conversely, about half of decision-makers who leveraged on-site document management systems experienced a boost in efficiency and a reduction in costs.
Additionally, Research Now reported that 86 percent of survey respondents said their current off-site document management provider takes approximately one to four days to retrieve and deliver sensitive records if the company does not pay rush charges. Since this can severely hinder an organization's ability to streamline operations, many decision-makers have decided to use on-site document management systems instead.
While migrating document management off-site can sometimes help companies achieve efficiency improvements by freeing up employee time and reducing responsibilities, deploying on-site offerings will likely lead to higher levels of productivity, enhanced convenience and lower costs. In the end, each company has different demands and budget stipulations, forcing decision-makers to select offerings that meet individual needs and requirements.