Cost of Advanced Documentation System
The Advanced Documentation System is a document technology partner that helps optimize and ameliorate the work of the company’s printers. The costs spent on printers and their supply grow exponentially within years. There are various ways to improve the way printers are handled by implementing helpful services such as the Advanced Documentation System. The cost of the system depends on the brand, for instance on Capterra, the service costs $25 per month with a minimum of 5 working places which is $125 in total (Capterra, 2022). The software has a free trial period that allows the customer to understand the features of the system and its working specialties.
The usage of the system can become profitable for the company within time. It is a cost-saving service as it analyzes and teaches the personnel to use various printer regimes for various needs. The software teaches the customer to use the printer on a higher level and consequently leads to better document management including converting papers to digital and re-engineering procedures for better productivity. The service successfully integrates into the IT environment of the firm and optimizes the inner work processes.
Eventually, the implementation of the Advanced Documentation System can become an investment within time as it can save the time of the personnel, increase their productivity, and help the environment (Advanced Document Systems, 2022). The environmental-friendly approach is based on saving the print and the time printers are used by the personnel.
Alternative Funding Sources
The company can pay for the service using various financial resources for alternative funding resources. The sources usually depend on the scale of the firm, its level of income, and its current position in the market. The easiest and most accessible way to pay for Advanced Document System is from the cash flow, especially if the company has a surplus of profit. Some companies do not possess many employees and income, and they can take a bank loan to cover the costs of the system. The bank loan can also be helpful when the service is needed for many seats that have to be united and optimized. Then, the costs spent on the system increase, and extra funding might be needed.
To increase the cash flow, the company can also go to the equity market and issue the stocks. The more stocks are sold to shareholders, the more cash flow the firm receives and can use for different needs. The other way to find alternative funding sources is to issue bonds that represent a fixed-income instrument. A bond is a debt obligation meaning that the company loans from an investor a specific sum of money. Bonds are safe for investors and faster to get for the company because more people invest in bonds as a safer method. Finally, the company can use mixed funding to get the cash for the payment which means uniting several methods described above. All the funding opportunities are possible for buying and implementing the Advanced Documentation System.