Money down the drain still rife amid recession
19 August 2009
Despite the constant and excessive media hype about the recession and how it is affecting companies throughout the UK, it seems many companies are failing to recognise areas of their business in which they are wasting large quantities of valuable budget.One of these areas which regularly goes un-noticed is the management of documents and paper flow. However trivial this may sound, it is actually a very costly area. Document scanning and archiving specialists Pearl Scan recently studied this area of one company which was surprised at their findings.
Pearl Scan approached a company who were storing document archive boxes off-site, using a pay-per month storage service. The director happily claimed, ‘We spend only 60 pence per box a month to store these so it is convenient for us at this time.’ Little did he realise that without keeping track of the amount of boxes the company were storing they now had over 300 boxes in storage.
If the cost of this storage stood at 60 pence per box per month, multiply this by 300 boxes and its £180 per month. Multiply this by 12 months and the total spent per year is £2160. This was their fifth year of storage and as the boxes had been gathering up, their total costs spent so far equalled to around £10,000 and this figure will continue to grow.
The director obviously baulked at the sight of this figure as he normally authorises small costs at a time. This stood out especially when he was informed that if these boxes were scanned and archived electronically, it could cost just half the amount and these documents would forever be available on their PC network for staff to view at any time, which also eliminates the time spent on file searching.
Furthermore, costs are lost on file searching and document handling. When it comes to photocopying, posting, distributing, printing and searching through folders for different documents, administration staff can spend up to one hour a day on these duties, this is over 20 hours a month and 240 hours per year multiply that by the number of staff searching for documents and again it adds up to thousands of pounds wasted, not to mention the spiralling costs involved in postage and copying and environmental issues.
Pearl Scan specialise in document scanning and archiving and by having documents scanned and archived they are kept electronically in one central repository on CD or on the local network, which means no more file searching, copying, off-site storage or unnecessary bulky filing cabinets. As documents are kept electronically, they can be emailed and distributed easily with the knowledge that all files are backed up safely while keeping to the data protection Act.
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