ROE - Return On Investment
Document management doesn't come with an itemized bill, but the costs are real and significant. Lets break it down:
Labor costs - paying your team to receive, review, categorize, name, save, check for duplication, and check for proper versioning for every document.
Cost of human error - time spent looking for documents and correcting mistakes
Opportunity cost - time better spent on billable tasks
True Cost
of Manual Document Management
Labor Costs
$12,000
Annual Industry Average per Lawyer
Calculation: 1000 documents / month,
2 minutes to read it, find the matter, subfolder, and name it:
1,000 x 2 min x 1 hr./60min x 30$/hr. staff time x 12 mo./yr. = $12,000
Annual Industry Average per lawyer
Staff and lawyers can spend 4+ hours weekly
searching for documents, correcting versions, or renaming files.
https://www.clio.com/blog/highlights-from-2024-legal-trends-report/
Cost of Human Error
$9,000
Opportunity Cost
50k-120k+
Revenue lost when professionals do low value work
Estimated Annual Industry Average per lawyer
for time spent on document management, based on best available data
Calculate how IbeX can Benefit
your Practice
Hours saved/month
A full-time, single-lawyer office handles 1000 incoming documents/month. It takes ~ 2 minutes to read, name, and save a document using a traditional document manager, taking 33 hours/month away from your admin team.