Return on Investment
SchoolDocs is an Electronic Document and Compliance Management System designed specifically for colleges. SchoolDocs easily integrates into existing software applications, including existing school and student management systems. Many colleges maintain large amounts of paper files resulting in undue costs and an overall decrease in efficiency. With SchoolDocs, it is possible to implement paperless systems which decrease the overhead associated with maintaining hard files, without disrupting existing processes. Improvement of in-house document management procedures improves productivity and lowers an organization’s total cost of doing business. The software and services provided by SchoolDocs enable any organization to implement a paperless system and quickly realize a significant return on investment.
Paperless means Paper Less
Streamlining information management processes and improving an organization’s information technology infrastructure help to make the concept of a paperless solution a reality. Document management systems allow colleges to realize savings in operating costs by eliminating unnecessary paper, and its associated maintenance costs, from the organization. In addition, the acceptance of electronic documents and signatures by the Department Of Education and many other regulatory bodies can eliminate most paper creation altogether.
Less Paper means Low Cost
- Storage Costs: Paper files incur significant costs associated with their storage. Many organizations outsource storage resulting in direct costs. Other related expenses include the cost of the cabinets themselves and the value of the space they occupy.
- Reproduction Costs: A study by Cooper and Lybrand indicates that on average a document is copied nineteen times. A paperless system eliminates the need to print or copy a document. It may be viewed, modified, or sent via e-mail without the need to use office resources such as printers, copiers, and paper. A good document management system will also eliminate storage of unwanted duplicates of a file, further reducing storage requirements as well as confusion surrounding which is the current version of a document.
- Retrieval Costs: In a traditional paper-based system the time it takes to “pull” a file or group of files varies. If filed correctly it may take a few minutes to pull a single student file folder, locate what is needed, and return it. However, if it is located in a different location, being used by another employee, or misplaced, significant time may be wasted attempting to locate the documents. In addition, searching across multiple file folders for a specific document can be an enormously time-consuming task that is easily eliminated by a paperless system.
- Opportunity Costs: The time it takes to pull files should not be considered an acceptable cost associated with running your organization. If an employee averages just 30 minutes per day searching for files, they will have wasted 125 hours throughout a year that could be dedicated to better performing their job. To put this in perspective, consider a financial aid department consisting of 5 employees with an average salary of $40,000 per year. The school is paying the group as a whole $12,000 to manage documents. More importantly, these same employees could spend approximately 600 more hours processing students, the equivalent work of a fulltime person working about 4 months.
- Disaster Recovery & Data Redundancy Costs: Another benefit of a paperless system is the ease with which electronic files may be backed up, or stored in multiple locations. A study by Gartner reports that two out of five enterprises that experience a natural disaster go out of business within five years. If a school operates without an adequate disaster recovery plan in place to secure all of their student information, they are one step away from a catastrophe themselves.
- Non-Compliance Costs: Often when a school is audited, issues arise that would be nearly impossible to predict in a traditional paper-based system. Our application provides a school with the ability to conduct a pre-audit and easily locate potential pitfalls before they occur.