The Cost of Paper

Weknow we don't have to convince you of the benefits of paperless recordsmanagement. The statistics from a Coopers and Lybrand study speak forthemselves: ·        Office documents comprise greater than 80% ofcorporate memory.·        90% of documents that are handled in an officeare merely passed along or shuffled through.·        The average document gets copied 19 times. ·        50% of a professional’s time is spent looking forinformation. Only 5-15% is used in reading the information.
Costs:·        $20 to file a document.·        $120 to find a misplaced document.·        $220 to replace a lost document.
Percentages:·        7.5% of all documents get lost.·        3% get misfiled.
Inother words, If your company generates 200 documents a week, you will lose 15of them (costing the company $3,300), and misfile 6 of them (costing$720). 
Looking at the big picture, there are over 4,000,000,000,000 (4 trillion) paper documentsin the U.S. alone. They are growing at the rate of 22% a year or roughly 880billion a year. What about you?  How is your records management?