ROI of Document Imaging
Forrester Research analyzed and evaluated ECM technologies and came out with The ROI of Imaging. Forrester Research, Inc. is a global leader in business and technology. They define imaging as software for scanning, capturing, indexing, retrieving, processing and archiving digital images of documents and electronic forms. Many organizations rely on paper intensive business processes and because of that, imaging is a very important component of Enterprise Content Management’s value.
A general formula to calculate your Return On Investment
ROI = (Gain from Investment- Cost of Investment) / (Cost of Investment)
Forrester recognizes four major factors that determine the Return On Investment of Imaging; organizations generally see an ROI within 12-18 months.
- Benefits– How will your organization benefit from imaging?
- Costs– How will your organization pay, both in hard costs and resources, for imaging?
- Risks– How do uncertainties change the total impact of imaging on your business?
- Flexibility– How does this investment create future options for your organization?
One of our customer partners, MiraCosta College saw an ROI of $150,000 right off the bat with their new ECM solution. You can read a PDF of their success story here.