An electronic document management system can provide significant cost savings and productivity gains compared to traditional paper-based filing systems. It reduces labor costs associated with filing, searching for, and storing documents. For a small organization with 10 employees managing documents, the estimated annual time and supply costs total over $27,000, which could be saved by implementing a document management system for an initial cost of under $3,000. In addition to financial benefits, electronic systems improve regulatory compliance, security, and business continuity in the event of disasters by reducing reliance on physical paper documents.