Taking Aim At Paper Costs

People often ask me isn’t document imaging really expensive compared to using paper. Good question!

If you knew what your paper systems are costing you, you would probably set your sights on this new target …

  Target and arrow 

… saving money by using paper-less technology.

  Here are what experts are saying about how costly paper is to your organization:

   Professionals spend 50 percent of their time searching for information, and take 18 minutes to locate each document on average.
-Gartner Research
   Companies typically misfile up to 20 percent of their records – thus losing them forever.
-ARMA International
   $14,000 worth of productivity is lost per worker per year due to their inability to find the data they require to do their job.
-IDC Canada
   A study conducted by The Delphi Group in 1999 found that 90% of typical office tasks still revolve around the gathering and distribution of paper documents. While 15% of all papers are lost, 30% of our time is used trying to find these lost documents. Companies on average spend $25,000 to fill a typical four-drawer file cabinet, $2,000 to maintain it each year, and over its life-span, a single sheet of paper ends up costing an average of $30.
-Delphi Group
   US companies spend approximately $20 on labor costs in order to file a document, $120 on the labor required to find a misfiled document and $220 to reproduce a lost document.
-Coopers & Lybrand
   For companies that manage their own files, employees spend between 20-40% of their time searching for documents manually.
-Coopers & Lybrand
   90% of documents that are consulted daily are handled without any appropriate management.
-Coopers & Lybrand
   For lost documents, companies pay a cost of searching, 6 times the value of the original document.
-Coopers & Lybrand
   Companies that need to redo documents pay 11 times more than the cost of the original document.
-Coopers & Lybrand
   Out of all documents generated, up to 7% are lost.
-Coopers & Lybrand
   Employees spend more than 50% of their time searching for information.
-Coopers & Lybrand
   Paper files are doubling every 3.5 years.
-Coopers & Lybrand
  The average document is copied 19 times.
-Coopers & Lybrand
Each day one billion photocopies are made
-AIIM, Forrester, Star Securities, US Department of Labor
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3 responses to “Taking Aim At Paper Costs

  1. Can you provide references to these statistics:

    Here are what experts are saying about how costly paper is to your organization:

    Professionals spend 50 percent of their time searching for information, and take 18 minutes to locate each document on average.
    -Gartner Research
    Companies typically misfile up to 20 percent of their records – thus losing them forever.
    -ARMA International
    $14,000 worth of productivity is lost per worker per year due to their inability to find the data they require to do their job.
    -IDC Canada
    A study conducted by The Delphi Group in 1999 found that 90% of typical office tasks still revolve around the gathering and distribution of paper documents. While 15% of all papers are lost, 30% of our time is used trying to find these lost documents. Companies on average spend $25,000 to fill a typical four-drawer file cabinet, $2,000 to maintain it each year, and over its life-span, a single sheet of paper ends up costing an average of $30.
    -Delphi Group
    US companies spend approximately $20 on labor costs in order to file a document, $120 on the labor required to find a misfiled document and $220 to reproduce a lost document.
    -Coopers & Lybrand
    For companies that manage their own files, employees spend between 20-40% of their time searching for documents manually.
    -Coopers & Lybrand
    90% of documents that are consulted daily are handled without any appropriate management.
    -Coopers & Lybrand
    For lost documents, companies pay a cost of searching, 6 times the value of the original document.
    -Coopers & Lybrand
    Companies that need to redo documents pay 11 times more than the cost of the original document.
    -Coopers & Lybrand
    Out of all documents generated, up to 7% are lost.
    -Coopers & Lybrand
    Employees spend more than 50% of their time searching for information.
    -Coopers & Lybrand
    Paper files are doubling every 3.5 years.
    -Coopers & Lybrand
    The average document is copied 19 times.
    -Coopers & Lybrand
    Each day one billion photocopies are made
    -AIIM, Forrester, Star Securities, US Department of Labor

  2. Pingback: 2010 in review | Paper-Mess to Paper-Less

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