Manual document processing costs UK business £28 billion a year
Outdated manual methods of processing information are costing European businesses €147 billion a year or €46 billion (£41 billion) in profits, Ricoh Europe warns following the publication of its new report into how large organisations with 1,000 plus employees handle documents.
The latest Ricoh Process Efficiency Index shows that across Europe employees responsible for managing business critical document processes spend 362 million hours on the task, representing a total cost to business of €147 billion or £132 billion.
In the UK, the total average man hours spent managing purchase orders, invoices, patient records and other critical documents is 69 hours per year at a cost of £28 billion.
A survey by Coleman Parkes, which forms the basis of the report, found that despite advances in technology, many document processes are unnecessarily labour intensive: 43% of all business critical document processes rely on hard copy data; and only 22% of respondents reported that their organisation utilised a fully automated workflow.
Despite their failings, businesses recognise that there is room for improvement. Respondents’ top three priorities are to improve knowledge sharing (67%); increase security (67%); and drive workforce effectiveness (65%). Lack of time (45%) and lack of resources (35%) were cited as the main obstacles to achieving these goals.
The whitepaper can be downloaded at www.ricoheurope.com/thoughtleadership.
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