Document Management Solutions: Reduce Costs To Your Paper Related Processes

Processes that are paper related are often overlooked by many companies today. For example, imagine a midsized company of about 30 workers and in their facility they have approximately 15 file cabinets. These file cabinets have taken up 144 sq. ft of space which can only increase without any type management process. Also, don't forget about the time and labor that's associated with these documents within the company. Even in these tough times within real estate, one can expect to average about $1.50 per sq. ft per office space. If the space of holding these documents were eliminated, that would be a potential savings of $2,592 a year.
Now let's look at the time and labor that's associated with these documents. An employee within a company would spend on average about 1.5 hours per day locating, editing, generating, filing or re-creating documents. If say 30 total employees within a particular company earned an average wage of about $20 an hour (this includes administrations to executives), that means there would be 45 hours total per day spent by these employees dealing with these documents. The total cost of the company would endure would be 45 hours x $20/hour = $900 a day. This may not seem like a significant number at first, but if you take a look closer, that would end up costing the company $19,800 a month, or moreover, $237,600 a year just for the handling and distribution of these paper related processes within a company.
Other than the labor and storage costs, cost per print needs to be accounted for as well. The average cost per print is $0.013 it includes toner and some maintenance. This does not include the cost of replacing or repairs like drum kits, rollers, cleaning and so forth. If say an office is generating four cases of paper a month, this office would be generating 48 cases of paper a year. On the side note, there are 500 sheets inside each reams of paper, and 10 reams inside each cases of paper. At $0.013 cost per print (CPP), they are spending $260.00 a month or $3,120 a year.
Let's imagine that we could reduce these costs by half, this company could save a potential of $121,656 each year.