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A company's "core competencies" are the focus points that funnel its employees' skills and efforts toward achieving greater success in the marketplace. Collectively, these core competencies are the organization's strengths, differentiating it from its competitors and providing the fundamental basis for the provision of added value. While "paper pushing" has never been considered a core competency, its impact on the quality and efficient execution of core processes -- and the total cost of ownership for the business -- is frequently underestimated or overlooked. Consider the following: - For every $1 dollar spent on producing paper forms, between $30 ~ $60 is spent in processing those forms. (Source: Gartner Group)
- 30% of paperwork is useless and could be eliminated (Source: Records Management, General Services, State of Tennessee)
- Just a one-tenth point (00.10%) increase in downstream errors wipes out the benefits of a 30% process cost reduction. (Source: BeyondCore)
- Eliminating inefficient manual processes can reduce a typical mortgage approval process from 4 hours to 10 minutes. (Source: Frost & Sullivan)
- In the typical company, 80% of invoices are low-value invoices and 40%-50% of these often cost more to process than their actual transaction value. (Source: Strategic Procurement Services, UK)
As businesses continue the transformation from an industrial economy, paper-dominant process model to a real-time, information-rich digital model, the hallmark of the outstanding company will be its skill at focusing on core processes, driving them with a superior ability to acquire, interpret and act on digitized information, and using that information to provide distinctive services. Yet even after a thirty year trend, the largest, most technologically advanced corporations have only digitized a fraction of their business processes - about 25%; small and mid-size businesses even less. Digitizing Business Processes with IPS means leveraging our expertise -- our core competencies, if you will -- and our guaranteed 99.995% success rate to lift the burden of performing your important document-intensive tasks so that you can focus on your core competencies. The net effect? You reduce not just your per-unit costs but also your total true cost of ownership. More importantly, you gain more of the efficiency and flexibility you need to respond to the rapidly changing demands of the new global economy. Contact us now to learn more about our services and the benefits of Digitizing Business with IPS. You'll be glad you did.
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