Going PaperlessĮCM solutions can eliminate paper costs almost entirely. Even with a rough cost analysis, you’ll be able to understand the cost of paper in your organization. In addition, misfiled documents can cost $120 to find, and lost documents can cost up to $220 to replace. American companies spend as much as $20 on labor to file a single document. While you may be thinking that regularly cleaning out these cabinets is the solution, labor costs are an even higher cost to using paper. Among the documents stored, it is estimated that on average, half of them are duplicates, and 80% are never accessed again. A four-drawer filing cabinet can cost $25,000 to fill and $2000 to maintain with the average business’s need for paper storage doubling every three years. Among the largest of these money sinks are storage and handling. It is estimated that between printing equipment, toner, filing materials and equipment, storage space, postage, shredding, disposal, and paid hours for handling, filing, and distributing paper documents, paper costs can exceed 31 times the cost of paper itself. While these countless costs may seem uncontrollable at first, there are ways to identify, calculate, and mitigate them. There are numerous overlooked pieces to the paper price tag ranging from ink and toner to storage and handling. Not much has changed, and paper continues to be a grossly underestimated cost of doing business.
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