How to Reduce Document Storage Costs

Posted on: April 26, 2017

Paper is commonly used in nearly every office process, from invoicing to communications—but the same paper that is used to enhance your business can decrease efficiency, hinder document workflow, and break the bank in storage costs.

With just a few simple changes and the right partner, you can get back on track, with document scanning and conversion solutions from QFI, Inc.

The True Cost Of Document Storage

As paper documents, books, manuals, and marketing materials continue to multiply throughout your office, you may become adept at finding new and innovative methods of storage, but at what cost?

When you look at the price of managing paper, there are a number of factors to consider including the cost of paper, printing including equipment and consumables, distribution and mailing, storage, and staff hours.

Consider the following:

  • The average employee uses 10,000 sheets of paper annually.
  • 45 percent of printed material has a lifespan of less than 24 hours.
  • Approximately $20 in labor costs are required to file each document.
  • $120 in labor costs are required to retrieve misfiled documents.
  • $220 in labor costs are required to recreate lost or stolen documents.
  • On average, 60 percent of office space is dedicated to document storage.
    (source)

The Benefits of a Paperless Office

In addition to the environmental benefits of reduced paper usage, there are a number of other significant benefits to document scanning and conversion, including:

  • Enhanced productivity. Thanks to any number of relevant search criteria, electronic documents can be retrieved in mere seconds, versus an average of 18 minutes search time for each paper document.
  • Ease of collaboration. Employees working outside of the office or in another branch can view documents from anywhere they have an internet connection.
  • Cost savings. Save money on paper, consumables, print costs, and physical storage solutions.
  • Space gains. Use the space once reserved for filing cabinets to add more workspace, reception, or to market your business.
  • Increased security. Paper documents can be lost, stolen, damaged, or destroyed by fire or flood. Sophisticated data encryption, and user authentication protect your confidential materials from falling in to the wrong hands.
  • Improved visibility. Keep track of where your documents are, who has viewed them, and who has made changes to them in real time.

Document Scanning & Conversion in DC, MD, PA, NJ & VA

While document scanning and conversion can’t happen overnight, it’s vital that the process be completed methodically and professionally, to ensure your complete satisfaction, and increase efficiency. The skilled technicians at QFI will work with you in accordance with your schedule and budget, so you can regain control over your document environment and workflow, while saving money that can be better directed towards growing your business.

To learn more about how to reduce document storage costs, or to arrange for a consultation, call QFI  at (301) 284-8789, or contact us online today!