DID YOU KNOW THE AVERAGE COMPANY…
- Makes 19 copies of each document
- Spends $20 in labor filing each document
- Spends $120 in labor searching for every misfiled document
- Loses 1 out of every 20 documents
- Spends 25 hours recreating each lost document
- Spends 100 hours per year searching for lost files
- It takes an average of 10 minutes per paper document to retrieve, copy, and re-file
- The average worker makes 61 trips to the fax machine, copier, and printer per week
- 7.5% of all documents get lost, 3% of the remainder get misfiled
- Professionals spend 5-15% of their time reading information, but up to 50% looking for it
– Sources: Gartner Group, AIIM, US Dept of Labor, Imaging Magazine, Coopers & Lybrand
IN FACT, HANDLING REPRESENTS 88% OF THE COST OF A TYPICAL DOCUMENT.
A recent cost analysis from Pitney-Bowes and Xerox places the total cost of handling and archiving a single paper document, during its complete lifecycle, at approximately $15 per item. The cost skyrockets to $75 when a physical archive search is required. At that rate, a company can spend as much as $250,000 per year managing documents.