Paper is an Expensive Proposition

Chances are, you’re not measuring the labor and costs associated with managing your paper today. It only becomes apparent when you lose an important document, fail an audit or can’t service your customer adequately.

Although it’s not generally a line item in your budget, you’re paying for it anyways - and maybe more than you imagined.

Did you know the average cost of materials and labor to fill a four-drawer filing cabinet is around $28,000? It’s really a matter of identifying the areas of cost to the organization and redirecting them to a more productive solution.

Here are a few measurements that may help you identify your current spending and how it could be changed:

The Cost of Paper vs Digital Storage of Documents Paper Digital Average time to retrieve one document 7 min. 4 sec. Average time to re-file 3 min. 0 min. Average total cost of retrieval and re-filing $2.00 $0.20 Average cost of an unavailable file $120.00 $0.00 Average annual cost of maintaining a file $3.44 $1.81 (Information from the Dartnell Institute and ODDSAR Publication. Dollar amounts based on a US $12.00 per hour wage, includes salary, fringe benefits, overhead and taxes. Includes materials, space and labor.)

Information Media Comparison Hardcopy (paper) Microfilm / Fiche Digital (images) Recoverable in Disaster no no yes Always find desired documents no no yes Quick, easy access to documents no no yes Protected Exposure/Sensitivity no no yes Minimal Storage Space no yes yes Increased Employee Productivity no no yes Reduced Filing Time no no yes Reduced Photocopy Costs no no yes Cost effective long-term Archiving no yes yes