If you don't, you can't make an informed decision as to how to stop the bleed. If you store and shuffle a lot of paper in your business, your business is bleeding money.
Storage of documents has a high cost associated with it. You're paying roughly $236–$314 per filing cabinet solely for the real estate it consumes. Current estimates show that 50–70% of space in an office is still dedicated to filing and storage of documentation! The crazy stat is studies show that over 45% of the files in those cabinets are duplicated information, and 80% is never accessed again.
Stop The Bleeding With Electronic Document Management
With Electronic Document Management, there are 4 major areas of savings that can be measured plus many other secondary areas of savings. Studies have demonstrated that companies that file with paper spend $20 in labor to file a document, $120 in labor to find a misfiled document, and $220 in labor to reproduce a lost document.
Automated 'Cost OF Paper' Calculators
A few automated systems are available online to calculate your paper cost and the environmental cost of using paper. You need to know right now how much your company is wasting filing paper. You can quickly figure your Cost OF Paper here:
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