Lost Documents = Lost Money

You probably haven't realized it yet, but the value lost due to missing information is enormous. A 2005 study by M.K. Bergman reveals that

  • it costs in average $150 to find a misfiled document;
  • 7.5 percent of all documents are lost forever;
  • the average knowledge worker spends 25% of their work time with searching for critical information; and
  • organizations spend 5 to 15% of their total revenue (!) on handling documents.

It is extremely important that enterprises become aware of the amount of money they can save by improving their document management and handling. One means of this is to connect documents to other relevant things, like todo items, calendar entries, or projects. This allows you to navigate through your information network alongside these connections, and you have information at hand whenever you need it. What does this mean? On the one hand you save time because you don't have to fire up a search engine and enter keywords, inspect the results, and refine your search. On the other hand, the quality of your work improves because you don't oversee relevant data: you know what is there.