Xerox Global Services commissioned the study into document process management as part of its ongoing research into the document space to identify the main issues facing businesses and outsourcing.

International Data Corporation (IDC) surveyed nearly 1,000 senior decision-makers across Europe from firms with more than 500 employees. A key finding was that the average estimated annual cost of documentation in these firms was 687,982 (e1m), representing 5-15% of their revenues.

But theres between 25-50% more cost in the document cycle than customers believe, said Xerox UK managing director Stephen Cronin.

Xerox will use the research to take greater advantage of the outsourcing trend after the study found that 60% of European organisations were already outsourcing or had plans to outsource some business process.

Xerox claimed that it could save a firm up to 35% by taking on its document process management, leaving the business to focus on what it does best.

A well-known car rental firm wanted to reduce operational cost. Xerox found the key to success by moving 1.7m vital documents onto its intranet every month, added Cronin.

Xerox Global Services already works with BT, Asda, Citigroup, Egg, General Electric and Lloyds TSB, for which it manages all document output, including printers, faxes, all its repro, as well as purchasing its offset print.

Story by Rachel Barnes