Managing your business on paper is costing you Millions!
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 costs and personnel costs.
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” worker’s 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 dollar costs, Coopers & Lybrand studies have stated:
Companies in the United States spend $20 in labor costs for every document filed.
They spend $120 in labor costs to find a misfiled document – with 15% of all documents being misfiled or misplaced at any given time.
It costs $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!