The Additional Costs of Paper files
These include the people time cost of filing, copying, faxing, lost files etc. and the cost of the space needed to store the file cabinets. The following are some interesting facts.
- 15% spent on equipment
- 10% spent on space
- 75% spent on salaries
Assume it takes a well trained employee 6 minutes to pull a file. If this employee does this just 10 times per day, they have spent an hour of their time on document retrieval. If this employee costs $15 per hour, (including SS and benefits) you are spending $15 per day on document retrieval. Multiply that by the 260 working days in a year and you arrive at a cost of $3,900 per year. This is for just one employee pulling 10 files a day. “Professionals spend 5-15% of their time reading information but up to 50% looking for it.” - Source: Price Waterhouse
- 15 filing cabinets
- $24.00 per sq. ft. for rent
- 15 x 21 = 315 total sq. ft.
- 315 x $24.00 = $7,560 Annual Cost*
*This doesn’t even include the cost of off-site storage of old records
$130/month to $175/month for a 10x10 room. Average $1,800 annually
So start today, saving money, increasing efficiency and reducing information headaches with NoPaperFiles.com