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Lost or temporarily misplaced files are an unfortunate reality for organizations that still rely on paper-based records for their day-to-day operations. A file may be in the proper filing cabinet - maybe not. It may be on someone else's desk - maybe not. It may be in an account manager's back seat, because he/she took it home last night to work on it - maybe not. It may be filed away - but tucked within another file - somewhere that it will not be found until someone stumbles across it, entirely by accident.
Lost files can be extremely expensive to re-create. According to a recent study conducted by the Association of Record Managers and Administrators, the reconstruction of a lost file can cost anywhere from $150-$300 - or more. This time and labor that could be better spent on income-producing or mission-critical tasks - not wasted recreating a lost file.
But what if that file contained a critical document that was needed to avert a lawsuit? Now the $150-$300 in reconstruction costs could mushroom into tens or hundreds of thousands of dollars in damages. And it could all have been averted, if the organization had not lost that one critical document.
By making either DocumentLOK or ContentLOK a critical part of its IT infrastructure - and following a properly implemented content management policy - an organization never has to worry about lost or misfiled documents, electronic files, or digital content again.
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