When was the last time you thought about the cost of paper? Most people believe that paper is cheap or even free, but in managing your business, paper is expensive - in physical cost and personnel cost.
A Coopers & Lybrand study published in 2004, stated that the typical organization is growing its paper base storage 25% per year. With this growth, you will double your paper storage every three years. Paper is not free!
Consider the following statistics from the same study:
- 90% of the documents that are consulted daily are handled without any appropriate management.
- 70% of the "white-collar" workers time is spent processing paper documents.
- 15% of all paper documents are misfiled or misplaced.
- 30% of the documents used daily contain obsolete information.
- 50% of an employee's work time is spent searching for information.
- 40% of a worker's time is spent searching for misfiled, misplaced, or lost documents.
- Paper-based processes are hard to validate for compliance to governmental regulation.
Translated into dollars cost, Coopers & Lybrand studies have stated:
- Companies in the United States spend $20 in labor cost for every document filed.
- Spend $120 of labor cost to find a misfiled document - with 15% of all documents being misfiled or misplaced at any given time.
- It cost $220 to reproduce a lost document - and statistics show that 7.5% of all documents are lost.
How Many File Cabinets are you Managing?
In 1999, a study by The Delphi Group found that companies spend an average of $25,000 to fill a typical four-drawer file cabinet. Once the documents are filed, they spend on average $2,000 per year to maintain each cabinet and an average cost of $30 per piece of paper stored over it's life-span.
What is it costing you to maintain your paper files? What is the real reason you have not moved to a document management solution? CASNET can help! Contact us now!