November 1, 2011 Laserfiche Reveals the ROI of Content Management Software at Schwab IMPACT
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SAN FRANCISCO, CA (Laserfiche)āNovember 1, 2011āLaserfiche (booth #335) today announced the availability of a white paper that explores the return on investment for RIA firms that leverage enterprise content management (ECM) software.
Calculations are based on benchmark data from recent industry studies prepared by Nexus Strategy, Moss Adams, and the 2011 InvestmentNews RIA Technology Study.
āWith Laserficheās 25-year history and experience with over 30,000 installations worldwide, we were able to conservatively approximate the savings associated with using ECM to āgo paperlessā and automate document-related processes,ā said Tim Welsh, CFP, Senior Consultant at Laserfiche. āIn total, firms that use ECM can increase profitability by 64.1% to 125.6%.ā
Table 1: Summary of Staff and Cost Savings by Firm Size
| Firm Size | Emerging ($500,000 in annual revenue) | Established ($1,000,000 in annual revenue) | Enterprise ($4,000,000 in annual revenue) |
| Technology Investment | 1.4% of revenues ($7,000) | 2% of revenues
($20,000) | 1% of revenues ($40,000) |
| Staff Savings | 1,000 hours (0.4 of a full-time employee) | 1,500 hours (0.6 of a full-time employee) | 11,000 hours (4.4 full-time employees) |
| Overhead Savings | 9.7% of revenues ($48,000) | 9.2% of revenues ($92,000) | 9.0% of revenues ($362,000) |
| Profit Increase | 125.6% | 74.8% | 64.1% |
| Business Value Increase | $242,000 | $644,000 | $3,616,000 |
In particular, firms that embrace ECM realize five major benefits:
- Reduced paper storage costs.
- Automation of back-office processes for increased efficiency.
- Integration with CRM software for increased productivity.
- Simplified compliance.
- Increased business valuation.
āFor a relatively small investment in ECM software, RIAs can make a powerful improvement in todayās income as well as tomorrowās long-term business value,ā said Welsh.
The paper, āROI for RIAs,ā is available for free at the Laserfiche booth (#335) and Website.
About Laserfiche
Since 1987, LaserficheĀ® has used its Run SmarterĀ® philosophy to create simple and elegant enterprise content management (ECM) solutions. More than 30,000 organizations worldwideāincluding federal, state and local government agencies and Fortune 1000 companiesāuse Laserfiche software to streamline document, records and business process management.
