Did you know that the DocLogix story began 15 years ago, when two enthusiastic programmers who were working on large IT projects could not understand one thing – why were companies willing to invest millions in “money management”, i.e. accounting systems and business management systems, but did not care about their intellectual property, i.e. information management?
The team started with a sole purpose – to offer a solution to companies that would enable them to create a convenient, flexible and efficient space for their document, task and process management. In 1998, the first version of DocLogix appeared, although it was without a name at that time. Five years later, in 2003, UAB DocLogix was founded. Today, DocLogix is recognized as Europe’s best information and document management solution.
So, what do we know about electronic documents?
- Americans still consume more paper per capita – upwards of 500 lbs. annually – than anyone else on earth. On average, a person in the United States uses more than 700 pounds of paper every year.
- There are over 4 trillion paper documents in the U.S. alone and they are growing at a rate of 22% per year.
- In the last 20 years, the usage of paper products has increased from 92 million tons to 208 million, which is a growth of 126%.
- In 1997 the total world paper and paperboard production were 299,044 metric tons. It would take about 200,000 Volkswagen Beetle cars to equal this weight.
- Professionals spend 5 – 15% of their time reading information, but up to 50% looking for it.
- The average document is photocopied 19 Times.
- 50% of knowledge worker’s time is spent on creating and preparing documents. Pretty crazy right?! From emails to presentations to PDFs, so much of our professional life is spent with documents.
- More than 75% of people from large organizations do not have PDF editors available to them.
- The average worker shares 6 documents as email attachments each day.
- 45% of companies report that it takes over a week to get a contract signed.
- Electronic signatures are legal per the federal Electronic Signatures in Global and National Commerce Act (ESIGN) of 2000 and per the state recommended Uniform Electronic Transactions Act. The ESIGN act states “a signature, contract, or other record relating to such transaction may not be denied legal effect, validity, or enforceability solely because it is in electronic form.”
- They are fast. It takes 45 seconds to sign (electronically) and return a signed document with a smartphone app. It takes several minutes to open an email attachment, print it, sign it, and fax it back (and that is assuming that the signer is near a printer and a fax machine).
- eSignatures reduce document turnaround time by 80%.
- 72% of leading businesses reported improvements in customer renewal rates after adopting eSignatures.
- Sales professionals that use eSignatures send 117% more proposals per rep, per month than non-users.