Document Management Horror Stories

Your information is vital – whether paper-based or electronic. There are implications of not managing your documents.

Irrespective of the business, the document storage facts remain the same:

• 80% of companies whose documents are damaged by fire or other disaster go out of business within 1 year.
• On average, each office worker files 10 pieces of paper per day (2,500 per year)
• This year you are likely to generate 50% more paper than you did last year
• The average professional spends 6 weeks per years waiting or searching for mis-filed documents
• A four drawer filing cabinet costs £16,000 to fill and £1,440 p.a. to maintain
• If your office space costs £16 per sq. ft., then ten typical four drawer filing cabinets will cost £5,240 p.a. just to accommodate them
• 35-40% of filed records are duplicated
• The average filing cabinet holds approximately 5,000 pages whereas 20,000 pages of A4 can be stored on one CD-R, the cost of which is less than £1.
• Businesses collectively spend billions of pounds managing paper documents, which are duplicated an average of 19 times during their life cycle.
• Traditional hard copies are expensive to store, often lost of misfiled and difficult to transport and share.