| Cost Benefits of a Digital System vs. Paper Filing Systems |
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A large hidden cost that most businesses take for granted is the time it takes to work with paper files. For example, say it takes a $20/hr employee five minutes to get up from their desk, find the right file drawer, place the file and return to their desk. Assuming they file four files a day, they could spend over 86 hours a year = $1700 in wages just in filing. And that’s only one employee. Having a Digital System Reduces the Costs of:
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Did You Know...
1. In the average office 90% of all papers handled each day are merely shuffled
2. 80% of company documents are stored on local hard drives and therefore inaccessible to organization staff unless they are created on paper
3. On average, companies spend $20 in labor filing one document
4. Between 2 and 4% of documents are misfiled on any given day
5. Companies spend $120 in labor to find one misfiled document
6. 1 out of every 20 documents is lost
7. Approximately 25 hours are spent recreating each lost document
8. Roughly 400 hours per year are spent searching for lost files
9. It takes an average of 7 minutes per document to retrieve, copy, and return the original to file
10. Approximately 10-12% of documents are not found on the first attempt