Do you know what the real cost of keeping paper files is?
A recent study has examined the dynamics of maintaining a paper based filing system and also analysed all the associated costs which many organisations will not be aware of. The reason for this is that the costs are mostly hidden and very rarely calculated but when they are, the results are quite astounding.
A standard four drawer filing cabinet holds approximately 15 to 20,000 pages and costs somewhere in the region of £16,000 to fill. In addition to this, each filing cabinet costs about £1 – 2k a year to maintain.
The study also reported that an estimated 7.5% of paperwork is lost and 3% misplaced. The cost of replacing each lost file is estimated to be £150 and to find misplaced documents would cost approximately £90.
It is a well known fact that the price of paper is rising dramatically and printing and photocopying costs are not cheap but what most businesses fail to take account of is the human element. A vast amount of time is spent and wasted on the management of a paper filing system. The total number of unproductive working hours which are spent either filing, looking for files or reproducing files is neither known or recorded. If it was, however, every organisation would wake up to the fact that paper systems are expensive!
For this and many other reasons, a more cost effective and efficient way of document or records management is becoming increasingly popular and that is electronic document management. Storing files electronically saves space, time and money and ensures the secure safekeeping of all records for all time.
To learn more about electronic document management please call The IPC Group on 08081 45 46 47.