Facts About Files: How Hardcopy Files Slow Down Productivity & Efficiency

The concept of going paperless is one that many companies often consider, but do not implement. The digital age has not reached all businesses just yet, but it is possible to transition from paper to digital. The benefits of a paperless office deliver more time, productivity, cost-savings and more. These facts about files may convince you to go digital once and for all!

Facts About Files 

Do you know much money your office is spending on paper? How about how many hours the average employee spends handling paperwork?

The cost of managing paperwork is a formula considering the cost of purchasing paper based on the average number of sheets a typical office needs. There are also costs associated with printing and duplicating paperwork, mailing, storage and courier services.

It’s estimated that one employee at an organization will handle up to 10,000 documents in a single year. If three people are handling paperwork, that is up to 30,000 pieces of paper that need handling on a yearly basis. An employee spends up to 60% of their time handling said paperwork, leaving little room for other productive work that needs to be done.

According to a whitepaper, it costs on average $40 for a case of paper. The cost of paper can rise quickly if you’re handling thousands of pieces of paper in a year. Furthermore, it’s the cost associated with handling, storing and managing misfiled or lost paperwork that costs businesses extra money. In fact, it can cost up to 30 times the original cost of paper to process a document – that includes printing, copying, mailing stamps, storing and recycling.

Paper management varies from company to company, but a paperless system will help organizations save money on costs of paper and storage, and give employees more time to focus on their duties.

Facts About Lost Files 

With businesses handling thousands of documents at one time, it’s not uncommon for paperwork, invoices or files to go missing. According to Pricewaterhouse Coopers, finding a lost document can cost a company on average $122. At any given time, an estimated 7.5% of documents will be misplaced completely. If an office is handling upwards of 300,000 files, that’s up to 2,000+ files that can go missing, costing a business over $244,000 in misplaced paperwork.

Facts About File Storage 

The same research report indicates that a filing cabinet with five drawers costs about $1,200. Although it can hold several thousand pages of documents and files, the cost can easily rise with the more paperwork that needs storing.

The cost associated with handling paperwork, lost documents and filing papers comes at a significant cost. A paper-based filing system can cost as much as a yearly salary for an employee.

Facts About Managing Files Digitally 

A digital file management system comes with a cost, but it’s important to evaluate the long-term ROI you’ll see by investing in a paperless process.

While every digital document management system will vary in cost, a single storage cabinet can cost $1,200. If an office has several cabinets, then organizations are paying several thousand dollars for storage. The more storage you need, the more it will cost.

A document management program can cost significantly less than what a business is spending on paperwork, storage, mailing and more.

ACI’s Digital Document Management solutions will offer cost savings associated with hardcopy paperwork, storage and retrieval. Digital workflow systems reduce document storage by up to 80%.

By having ACI index documents and make them available on a digital scale, your office can have all documents ready to retrieve at your fingertips, reduce paper handling and thus reduce the amount of money spent on paperwork.

Consider taking advantage of ACI’s FileManager™ ECM Software, which automates your office’s paperwork by making all documents instantly available digitally.

ACI’s tools and software make going paperless a possibility in every office. Contact us today to let us know how we can help.

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