Stuck in Manual? The Costs of Delaying Digital Transformation

In Mobility in Motion: When Technology Transformation Meets Operational Intelligence, businesses said they require a partner to help with digital transformation, or they have too many manual processes and/or legacy technologies to digitize.

By staying manual, businesses risk the costs and consequences illustrated in the infographic below.

Manual Processes Cost More Than You Think

In Mobility in Motion, 21% of businesses, globally, still use manual paper forms. If your business falls into that category, here’s the cost:

• 10%: In any manual process – no matter how many times it’s been done – a person averages 10 mistakes per 100 steps¹. Depending on your industry, 10 mistakes can be serious and hurt bottom line performance.
• 18 minutes: The average professional takes 18 minutes to locate a single document manually². In context, that’s almost 33% of a 60-minute working hour spent hunting for pieces of paper. Not very efficient
• 60%: How many people are in your organization? Well, 60% estimate they can save six or more hours a week³ with automation via digital transformation. That’s time they could spend on more vital tasks or developing innovative solutions to grow the business
• $2.7 trillion (USD): Invoicing is common. Using manual, paper-based invoicing cost businesses $2.7 trillion globally⁴. That includes direct costs such as paper and postage as well as indirect costs caused by manual data entry errors.
• $14 million (USD): The average cost for non-compliance – including revenue loss, fines, penalties and reputational damage – is greater than $14 million⁵. Think about how many paper documents your business generates. Do you know if they’re all compliant
• 40%: Paper documents account for 40% of all data breaches⁶. This could be because employees forgot to shred documents, or if documents were lost, stolen or misplaced. This puts the organization at risk of fines and penalties and customers at risk of fraud
• 37%: In manufacturing, 37% of professionals don’t trust the reliability of manually entered data when making strategic business decisions⁷. Picture reviewing production output projections that will shape hiring requirements, but you aren’t sure about its accuracy or validity. Frightening.

Don’t Take the Risk. Begin Your Digital Transformation with SOTI Snap

Pen-and-paper manual processes may be inexpensive at the outset, but human errors, a lack of visibility and the resources needed to store documents can cause long-term cost overruns.

Digitizing processes and data collection with SOTI Snap increases speed, accuracy and efficiency while decreasing costs and risks. Ask yourself what’s better?

• Manual processes which take too long to execute and may be laced with errors that can cost your business thousands of dollars – or more
• Digital processes which are quick to complete, accurate, compliant and protected against threats and theft

The answer is obvious. And if you want to digitize your manual processes with SOTI Snap, here’s how to start: