Frequently asked questions regarding the cost of manual paper filing vs. digital imaging, how to get started with digital filing, security and protection digital imaging provides business clients and how much money can document imaging save my business?
The Hidden Costs of Paper File Systems
(Q) Is Document Imaging Cheaper than Storing Paper Files?
(A) Paper – Pricewaterhouse Coopers reports that on average, it costs $25,000 to fill one file cabinet and an additional $2,100 per year to maintain that cabinet. That’s over $14,000 dollars for 7 year life cycle records!
(A) Digital – On average, it costs $1,000 to scan a file cabinet saving 50% in the first year alone! After that, digital storage provides over a 90% savings over the document life cycle!
(Q) How Can Document Imaging Save Money on Retrieving and Organizing Documents?
(A) Paper – It is estimated that up to 20% of an employee’s time is spent searching for and retrieving documents, some of which have been misfiled and lost forever. If you have 10 employees accessing the file cabinets, this can quickly add up to more than $80,000 per year in lost productivity due to using a paper based filing system.
(A) Digital – Document imaging solutions utilizing key index fields or “tags” allows multiple ways to categorize and label documents providing instantaneous access to multiple documents virtually eliminating misfiles!