Did you know that 86% of businesses still use paperbased documents? As you glance around your office, chances are you’re one of them. Contrary to conventional wisdom, this 2010 Anoto Group survey also indicated that 45% of businesses see their paper use either growing or continuing to stay the same in the future. Many businesses are stuck with paper, because they lack confidence in determining which scanning application to purchase to convert their paper documents to electronic files. Others are unsure how to find value from the electronic document conversion, but the rewards can be significant. Nucleus Research, an analyst firm specializing in the financial return on technology investments, noted that the average return for every $1.00 spent on information management is $6.12. That’s a 612% return on investment!
CONSIDER MORE THAN JUST TCO
Many companies use Total Cost of Ownership (TCO) to help them when making technology decisions. TCO measures the total cost of owning a particular product or solution over a period of time. It includes both the initial purchase investment and the ongoing maintenance and support costs. Initial costs may include software license or purchase costs, new hardware required for installation and support and consulting associated with getting the solution implemented. Ongoing costs for capture solutions often include maintenance fees, upgrade costs, user training, and ongoing IT support fees.
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