Do you know how much the use of paper-based documents is costing your company?

Having a paper-based operation is costly and unproductive. Several studies from specialized researchers have reached surprising conclusions.

 
Archicentro
Archicentro   
  Home      Versión en Español     Contact Us     Search By: Buscar
Archicentro
ABOUT US        PRODUCTS        SERVICES        KNOWLEDGE CENTER        BUY        PARTNERS
Archicentro
/ Do you know how much the use of paper-based documents is costing your company?
Archicentro


The cost of paper-based processes

If you want to know, then you can calculate your costs here.



Have you ever asked yourself how much the use of paper-based documents is costing your company? If your answer is “No”, you’ve come to the right place for an answer.

The “cost of paper” issue is usually ignored in most organizations. In other cases, it just doesn’t get much attention since it is believed to be related to the price paid for the paper used in the office printer and photocopier.  This is completely wrong!  The cost of paper-based processes goes way beyond the paper.

Working with paper consumes time (think of your employees archiving paper documents, trying to find lost files, or looking for incorrectly archived files among others).   In the end, it means several hours per day and several hours per year.   We all know that “time is money”.

Research conducted by the consulting firm Coopers & Lybrand has shown the following results:

  • An average paper document is photocopied 19 times.
  • Employees spend 20-40% of their time looking for information they need to perform other tasks.
  • Professionals spend 5-15% of their time reading relevant business information… but spend 50% of their time looking for it.
  • 3% of archived documents are not properly stored.
  • 7.5% of stored documents get lost eventually.

 

This study also suggests that the cost of archiving a paper document is $20; to find a document that was not properly archived costs $120, and to entirely redo a lost document costs $220.

These costs might seem unreasonable to you at first; but let’s take a deeper look.

To properly calculate the costs involved with the use of paper in a business or organization, we need to take the following variables into consideration:

  • Quantity of paper documents.
  • Time spent archiving and looking for paper documents.
  • Labor costs.

 

After estimating the quantity of documents archived and retrieved daily (including lost or incorrectly archived files) and, multiplying that number by the hours spent daily in these tasks, and then by your labor cost per hour, you’ll get your daily cost of paper processing. But this is only a part of the total cost. The following costs have to be added:

  • Printing and copying: including equipment, maintenance and associated labor.
  • Document distribution: including faxes, couriers and associated labor.
  • Stationery and supplies: paper reams, printing cartridges & toner, archiving furniture, etc.
  • Document storage space: the physical space used to store paper-based documents. Studies suggest that 25-35% of office space is usually used to archive paper documents.

 

Having a paper-based operation is costly and unproductive. Several studies from specialized researchers have reached these conclusions:

  • 90% of the work load in an average business organization is related to search and retrieval of paper documents.
  • 30% of an employee’s working time is spent gathering information.
  • 80% of employees spend at least half an hour a day extracting information from documents or files in the archive.
  • 60% of employees spend at least 1 hour a day duplicating tasks that have been previously executed by others.
  • 50% of archived documents are actually copies of other documents.
  • 90% of documents are not properly safeguarded.

 

However, research has also shown that a Document Management solution can dramatically increase productivity. It can increase information search and retrieval effectiveness by 30%, and the ability to address customer requests by 40%.

Going back to our initial question, do you know how much the use of paper-based documents is costing your company?


Archicentro
Archicentro ABOUT US
Archicentro
Learn about GA Technologies
The World of the Paperless’ Office
Products
Services
SCAV - FAQ
TORRENTE - Document Scanning - FAQ
OKAVANGO - Archiving - FAQ
ROBLE - Document Storage - FAQ
NIMBUS - Cloud Storage Service – FAQ
 
Archicentro
Archicentro
Archicentro
Archicentro OUR CLIENTS
Archicentro
Clients Products and Services
 
Archicentro
Archicentro DOWNLOADING CENTER
Archicentro
Presentations and Set Up Software
 
Archicentro
Archicentro BUSINESS CASES SCAV
Archicentro
The Payment Process
Insurance Companies: Dealing with policies’ processing and paper issues.
Automation in Healthcare: A great ally for the collection’s department
Automating Purchasing Processes -- From Sales Orders to Bill Payment
 
Archicentro
Archicentro
Archicentro
Archicentro
Archicentro
Archicentro
Archicentro
Archicentro CONTACT US
Archicentro
GA Technologies
Partners
SCAV Technical Support
 
Archicentro

Archicentro