M-Files Enterprise Information Management Solution Enables Engineering Firm to Achieve 378% ROI in Four Months
Dallas, TX (PRWEB) February 17, 2015 -- M-Files Corporation, a provider of solutions that simplify how enterprises manage documents and other information, today announced that Booth & Associates, an electrical engineering firm based in Raleigh, North Carolina, has deployed M-Files to improve its document management, compliance and project management capabilities resulting in a 378 percent ROI in four months.
The engineers, designers and technicians at Booth & Associates all work simultaneously on a wide range of projects for municipalities, utilities and private clients. The company’s system for managing project information did not provide the versioning and search capabilities the engineering teams needed to properly track workflows and critical documentation, causing teams to spend inordinate amounts of time searching for current and updated versions, while also risking the loss of important revisions and other information in backdated versions. Furthermore, because Booth & Associates designs electrical systems for large utilities, municipalities and cooperatives, the firm needed a solution that enabled them to manage project documentation and processes to ensure compliance with state and federal regulations.
Booth & Associates deployed M-Files to better manage document versioning and project workflows while also providing the ability for its engineers to quickly find necessary engineering documentation associated with each project, such as schematics, design drawings, materials lists, etc. The company experienced a substantial increase in productivity because of the time saved on ensuring project team members and subcontractors were working with the correct versions of documents.
M-Files also helps Booth & Associates ensure it meets regulatory compliance and project deadlines by automating the review and approval processes for engineering drawings, change orders, specifications, permits, inspection submissions and other documentation the company must manage in accordance with state and federal regulations.
In its ROI Case Study Report, “M-Files DMS: Booth & Associates LLC,” Nucleus Research calculated the costs of software licensing, server construction, ongoing maintenance costs, personnel and ongoing support over a three-year period to quantify Booth & Associates' investment in its M-Files deployment. Nucleus Research calculated a return on investment of 378 percent within four months of the payback period for the project, as well as an average annual benefit of over $119,000.
“Our projects are on a fixed budget, and our teams are able to more efficiently manage documents and processes with M-Files, enabling us to stay on budget for time and resources for each project,” said Rick Rambo, Computer Operations Manager at Booth & Associates. “M-Files enables us to get our work done in a more efficient manner, which increases our bottom line.”
“Engineering firms like Booth & Associates produce a massive amount of project documentation, and a major challenge for them is the inordinate amount of time and energy they spend searching for and verifying that they are working with the right, up-to-date versions of information assets,” said Greg Milliken, vice president of marketing at M-Files Corporation. “M-Files enables engineering and construction firms to easily and more effectively manage their project information and related processes, resulting in more efficient, higher-quality projects with fewer code compliance issues. The direct result is faster and greater ROI as experienced by Booth & Associates.”
About Booth & Associates, Inc.
Booth & Associates, Inc. provides ongoing professional engineering and financial services to rural electric cooperatives, municipalities, and other utility clients throughout the United States. Booth’s staff of over 70 employees includes registered professional engineers, graduate business and accounting professionals, computer specialists, registered surveyors, and supporting personnel. Booth & Associates is headquartered in Raleigh, NC. For more information, visit http://www.booth-assoc.com.
About M-Files Corporation
M-Files enterprise information management (EIM) solutions eliminate information silos and provide quick and easy access to the right content from any core business system and device. M-Files achieves higher levels of user adoption resulting in faster ROI with a uniquely intuitive approach to EIM that is based on managing information by "what" it is versus "where" it's stored. With flexible on-premises, cloud and hybrid deployment options, M-Files places the power of EIM in the hands of the business user and reduces demands on IT by enabling those closest to the business need to access and control content based on their requirements. Thousands of organizations in over 100 countries use the M-Files EIM system as a single platform for managing front office and back office business operations, which improves productivity and quality while ensuring compliance with industry regulations and standards, including companies such as SAS, Elekta and EADS. For more information, visit http://www.m-files.com.
M-Files is a registered trademark of M-Files Corporation. All other registered trademarks belong to their respective owners.
Matthew Meigs, M-Files Inc., http://www.m-files.com/, +1 415-686-6178, [email protected]
Share this article