Time is free, but it is priceless. You can’t own it, but you can use it. You can’t keep it, but you can spend it. Once you’ve lost it you can never get it back” – Harvey Mackay
This quote rings true for all of us and makes you think, are we using our time effectively? Should we be spending more of the precious time we have doing things we love? How do we get more of our own time? Whether you are a generic employee or the CEO, everyone could appreciate more time in their day.
But how can you possibly get more time in your day? That’s impossible, right? Well, what if I told you there was a magic wand that could give you an extra 4hrs of work time every day? Just imagine all the things you could accomplish in that time.
Well, there is a magic wand, and that magic wand is M-Files. Keep reading to find out how the magic of M-Files can save you up to half your workday every day.
There have been various studies conducted to see precisely how workers spend their workday. One of these multiple studies results is that workers can spend upwards of 4 hours, yes 4 hours, half their workday, just searching for information and using manual, inefficient processes.
It may come as a surprise, but workers waste a lot of time looking for information. Many businesses are still using network folders or even paper filing systems. While these can work, there are often too many downsides for it to be effective and that’s leading to a massive loss of time for your workers.
So let’s break it down:
- Interact Source reported that 19.8% of business time is wasted by employees just trying to find the information needed to do their job. That’s 1.6hrs a day wasted.
- McKinsey found that this number was even higher, at 1.8hrs a day / 9.3hrs a week on average lost just looking for information. To put that into perspective, each day, for every 5 employees a business has working, only 4 of them are actually working, as the 5th person is spending the time just searching for information
- IDC says that these numbers are even worse for Knowledge workers, with roughly 2.5hrs a day looking for information. That’s 30% of their workday.
- Assume that the average worker is wasting 2hrs a day searching for the correct information and that the average salary of the workers is $70,000 per year that means businesses are wasting on average $17,500 a year per employee on them looking for information alone.
Not only are employees wasting precious time just looking for the correct information, but they are also wasting just as much time once they have it. Manual, repetitive processes are time suckers that could be better used doing something else.
So let’s break this down:
- According to Software Testing and Big Data Hadoop, workers spend approximately 10-20% of the workday on dull, repetitive tasks. That’s roughly 1.5hrs a day.
- The IDC reports that organisations lost 20-30% of revenue each year due to inefficient processes
- Unit 4 has found that office workers waste about 69 days a year, just on administrative tasks. Worldwide this costs companies $5 Trillion a year
- McKinsey claims that nearly half of current paid activities can be automated by modern technology.
The combination of being unable to find the correct information and once having it, wasting time doing inefficient manual tasks is an absolute time killer for your employees. They can quickly spend half their day on this.
So what’s the solution? The solution is the magic of an intelligent information system. The answer is M-Files.
M-Files intelligent information management gives you and your employees the most valuable resource you can use. Time.
With M-Files. You can find your information lightning fast:
- M-Files has an advanced google-like search function, meaning just a keyword or two about your document. The information you are after will show up at the top of the search results.
- The use of AI technology allows for quick and automatic tagging and classifying your information – making them easier to find later.
- M-Files is available anytime, anywhere, on any device. Access the information you need from the office, home, the hotel or even a coffee shop. 24hrs a day, 7 days a week, even from your mobile phone
- Offline availability means you can even access the information you need without an internet connection. Handy for remote locations or travel
- One-stop for all your information – no matter where your data is stored, or what system, you can search and find it all in one place. M-Files.
M-Files also has a built-in workflow engine as standard. No longer will manual, inefficient processes be a time-waster. With M-Files workflows, you can expect:
- Fewer errors, less risk – Automation will significantly reduce human error, which can cost lots of time and resources
- Increased productivity – By automating your processes using workflows, you eliminate repetitive tasks and free your employees to spend that time focusing on more business-critical activities, thereby increasing productivity.
- Saves Time – Automated workflows significantly cut down the time required to complete tasks, especially repetitive manual tasks.
- Improved teamwork – M-Files offers a convenient platform where workers can collaborate and manage their task-based work efficiently.
- Scalability – Eliminate bottlenecks and scale up productivity company-wide, no matter how big or small.
It’s that simple. By implementing M-Files intelligent information management system into your business, you are waving a magic wand that will eliminate workers trying to find the right version of the correct document across multiple systems. Never again will time be wasted on repetitive manual tasks. You are freeing your employees time and increasing productivity.
Own your time, use it efficiently and spend it wisely with the magic of M-Files. What will you do with your extra half a workday?
M-Files is the only intelligent information management platform that organises your information based on what it is, not where it is stored. The advanced AI features make using the system a breeze.
Interested in learning how M-Files can help you? Contact us to book a demonstration of M-Files, the pinnacle of Document Management Software and learn how it can elevate your business to the next level.
Looking for more info? Check out the following articles from our archives.
- What is Metadata and What it Means for your Business?
- Search your documents like you search the web – Enterprise Information Search
- The Folders Dilemma: Common Problems with Network File Shares and how to overcome them
- Why should you use M-Files over SharePoint Online for your Document Management needs?
- What is Business Process Automation? Is it an Automation your Workplace can do right now?