EntelliFlow ROI CALCULATIONS
Why a Total eForms Solution?
EntelliFlow enables businesses to automate the processes that govern their business operations. It enables records to be routed to individuals located anywhere in the world. These benefits allow a company to be more adaptable to change and so, to more effectively compete in a rapidly evolving commercial marketplace. Beyond these key strategic advantages, companies realize immediate cost savings when converting their records to eForms managed by EntelliFlow. Here's why:
Companies possess a variety of forms implementations but they may be divided into three major categories: Paper-based, eFill and eFill & route. Total paper-based solutions are the most costly with the inherent costs of printing and storage as well as all of the processing costs. eForm fill does automate some of the processes by providing forms that are designed in Microsoft Word or Excel and other popular design packages and stored in a folder. These forms may have some auto-fill capability, but still entail storage and processing costs. Legacy eFill &route packages automate many functions of eForm processing, but may not give total savings realized by simple form integration into legacy company systems
Automating your paper-based form process can provide substantial savings and a quick ROI. The cost of forms is not a simple calculation of the cost of paper. There are many hidden costs. The following costs are estimated for each stage of a form process that is performed manually:
Centralized Storage $ 2,000 per 1000 Forms
Intelligent Forms and Auto-Fill/Auto-Import
(eForm Fill) $ 3,415 per 1000 Forms
(Paper Fill) $17,084 per 1000 Forms
Data Integration with Corporate Systems $ 2,920 per 1000 Forms
Retrieving Archived Forms for Review $ 950 per 1000 Forms
Routing and Approval $ 3,000 per 1000 Forms
Total (Upgrade from eFill) $12,285 per 1000 Forms
Total (Upgrade from Paper) $25,954 per 1000 Forms
For a typical corporation of 500 employees, each employee on the average will use one form a week, with some employees completing many more forms and some less depending upon their job function. This translates to 2,150 forms a month for the organization. The cost savings will then be $317,000 per year for an organization converting from eForm fill and an impressive $670,000 per year for an organization converting from a paper-based form system.