Filing paper is just one of the 'costs of doing business', right?

 

Business owners and office managers that have run offices for some time know that filing paper is a very mundane, repetitive task and is just a cost of doing business, right? Wrong. Filing paper is archaic this day and age. That 'cost of doing business' is dragging your profits down. Let's break this all down and see what each element of paper filing could be costing you.

In essential elements, paper filing costs involve labor, supplies, and storage.

Let's look at employee labor. The average hourly wage for filing staff: $10
Employee benefit/burden: 25%. That pencils out to $12.50 per hr.

Say you have 1500 new files added each month: Time required to prepare and file each: 1 minute per. Total: $315.00 TO FILE.

To retrieve stored files let's say you have 5 people who retrieve 5 documents per day, taking 3 minutes each, for 20 work days a month. Total: $315.00 TO RETRIEVE FILES.

Employees will misfile documents from time to time. What's the hidden cost of that? Let's say you have 10 misfiled/mislabeled documents that take 20 minutes each to find. Total: $42.00.

Costs for supplies per 1500 files STORED per month =$600.00. (This is paper, hanging files and manila folders, bankers boxes, etc.)

The monthly cost of storing your files can add up fast. Say you have 39 filing cabinets:(8 sq. ft. per) times $1.50 for office space lease (per sq. ft.): Total $468.00 We are not even considering 'off-site' storage which many businesses have due to overflow and archiving. That total could conceivably double!

For a small business we have calculated the costs so far for filing the old fashioned way at nearly $1400.00!

A bold statement: With Electronic Document Management (EDM), I could knock about $1000 off of that cost!

How so? Electronic Document Management (EDM) cuts many of those costs associated with paper filing way down, or completely out. And get this; up until recently, most Electronic Document Management (EDM) had to be done on a local area network. Now, with widely available, inexpensive broadband, there are many new advancements in EDM. There are many products available now via the web as 'Software As A Service' (SAAS). You lease only what you need. No software to buy and install!

To easily achieve the paperless office...

One needs only to choose the product that fits your needs. If you need very affordable, cost-effective, secure, easy-to-use EDM, there's only one we know of that fits into that category. Go here to find out more.