Paper: many organisations have built their foundations on it but can the cost of handling paper be justified when the world is embracing digital?

Is paper costing you more than you think?

Paper: many organisations have built their foundations on it but can the cost of handling paper be justified when the world is embracing digital? Paper doesn’t just cost you money to buy – it costs you money to receive, store, handle, process and to keep antiquated systems in place to manage it. Paperwork is a burden on any modern business – and here’s why.

Storing paperwork costs office space, but do you know how much space? A standard four drawer cabinet, which won’t hold much of the total amount of paperwork in your organisation, takes up 9 square feet of office space. Storing paper documents takes up to an average of 18% of an organisation’s total office space. 

You could utilise that space better if you were able to reduce the amount of paper documents handled and stored within it.

Document handling is also costly; the average office workers spends 2 ½ hours per week looking for paper documents. That’s a staggering 15 working days per year!!! They also visit a printer or scanner over 60 times per week. This is time that could be better spent working on other core functions of the organisation. Imagine what your team could achieve with an extra 15 days per year each!

As an organisation, relying on the handling and storage of paper documents means that you can’t take full advantage of the improved efficiency and cost savings that digital technology can offer. You are often tied to antiquated systems to handle, process, file and archive the paperwork. These paper based systems cannot integrate with any electronic systems that you may have and this prevents you from being able to streamline or modernise your internal processes.

96% of office workers are frustrated by their company’s information management. 

UK businesses waste over £20 billion a year using inefficient or old document management and document handling processes. In fact, 80% of internal information requests in an organisation result in paper being handled in one form or another. However, 80% of all documents retrieved are photocopied, scanned or faxed before being filed again. This means that you’re receiving, handling and storing paper, just to have to retrieve it, digitise or copy it, and then, file it away again. The time and office space wasted in this paper shuffle is laughable for a business in the digital age.

There is one further cost of paper – it is too easy to misfile or lose paper. Large organisations lose one document every few seconds. Just take a second and think back to the last time an important document was lost in your office, the panic it caused, the number of people involved in the search, the total amount of time that was wasted and the cost of the exercise. All to find a single document, which, if digitised would have been available within seconds. All organisations in the digital age backup their electronic data in case of loss, why not do the same with your paper?

replacing paper documents in favour of a paperfree office can help your organisation move towards a more efficient, cost effective way of working. It will also help you accommodate remote working, team collaboration, outsourcing and integration of key information across multiple systems.

If you have decided that document scanning is something you want to explore but aren’t sure where to start, we here at Storetec will offer you an easy, hassle-free way to find out all you need. Get in touch today and find out more.

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