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Cost Analysis       There are several factors involved with analyzing the cost of a “paper” document system. These include but are not limited to man hours used, physical storage space (filing cabinets and/or filing shelves), cost of paper supplies and equipment, time to file a document, time to retrieve a document, reproducing lost documents, and finally the time to search and locate documents. Below is a breakdown of industry averages associated with these expenditures. Filing Documents If it takes one employee 3 minutes a document and they have to file 60 documents a day that is 3 hours of your time dedicated for them to file documents. Cost 3 hours x $10.00/hour = $30.00 /day filing documents. Retrieving Documents Depending on what you are looking for and provided you know what you want it could take as little as 3 minutes to locate and retrieve a document. One employee looking for 30 documents a day. Cost 1.5 hours x $10.00/hour = $15.00 /day retrieving documents. Storage & Material Costs If the average business has 5 five-drawer filing cabinets on average it costs $880.00 per year to maintain and store these cabinets. Cost is 5 x $880.00 = $4,400.00 yearly ($20.00/day). Lost and Misfiled Documents On average 8.5% of all documents are lost. And of these 4% are misfiled. Now depending on your business and point of view, this could be a huge lost for your business and customer. Because not only are you loosing the actual paper document but also the valuable information it contains. Cost needs to be analyzed in two ways. The first is the employee hours that you use to look for the document before you release it is missing. Second is the actual cost to reproduce the missing document. Cost is a minimum of $20.00 per day if 5 documents were lost a day. Immediate access to documents and information A major focus in any business is information. The average employee spends at least 2 hours of their day looking for information that they need to complete their job. For example, If you have 5 employees, and each employee makes $10/hour that’s $100.00/day just in document searching and retrieval. Summary Of Cost Analysis Activity Daily Cost Monthly Cost Yearly Cost Filing Documents $30.00 $600.00 $7200.00 Retrieving Documents $15.00 $300.00 $3600.00 Storage And Material $20.00 $400.00 $4800.00 Lost And Misfiled $20.00 $400.00 $4800.00 Access To Documents And Information $100.00 $2000.00 $24000.00         Totals $185.00 $3700.00 $44,400.00

Document Systems Direct - 108 Craven Hill Ct, Cary, North Carolina 27511 - Phone 919-810-5207