The Financial Significance of Forgetful Frederick

Posted by Kevin D'Arcy on Sep 14, 2017 9:57:22 AM

When you look at your Information Chaos Team Forgetful Fredrick may seem like a guy with good intentions but when it comes to managing your information he's a financial black-hole on your office. He checks out files, never brings them back and when confronted about it can’t remember doing it or swears he brought them back.

6-Forgetful-Fredrick.pngHow to spot Forgetful Fredrick

  • His desk is typically pilled high with paper files
  • He tends to disregard your check-in/check-out file policy
  • He swears he doesn't have the file you're looking for, but days later it miraculously turns up on his desk out of no where
  • When asked about important documents he's very quick to respond with "I've never seen it"

The impact Fredrick has on your organization

  • Your other employees waste valuable time searching for documents Fredrick has lost (approximately $120 is spent looking for every lost file)
  • When it doesn't turn up, you have to re-create the file (on average file re-creation costs $240)
  • You miss out on new business opportunities because you can't find the information you need to make a proper proposal in a timely fashion

How to work with a Forgetful Fredrick

  • The biggest problem for Fredrick is the ability for him to by-pass your check-in/check-out policies. By ignoring these rules there's no chain of custody or proof that Fredrick has the files.
  • The other problem is that you're relying on paper files. With paper files you have one copy of the record. That's it. When Fredrick loses it, you're in trouble.
  • Scanning your paper files and moving to a digital environment provides automated check-out procedures, provides a full audit trail and makes the documents accessible to everyone at the same time. Fredrick can never lose a file again.
  • Not ready to scan your file room? That's okay, but you can still address the fundamental flaw by implementing an automatic check-in/check-out procedure. Apply RFID tags to your paper files and employee badges to automatically log when Fredrick takes a paper record from the file room. If he swears he doesn't have it, handheld RFID scanners can help you pinpoint the file anywhere in the office.

Remember, it is critical that you have control over your business information to improve workflow, customer service, cash flow and more.

Is a Forgetful Frederick causing chaos in your business?

Let us know, we can help. 

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