Paper and pen have been indispensable tools of office life for dozens of years. Many companies have been taking paperwork for granted and have rarely thought about the real value of the paper they use in the business. That said costs associated with paper-based processes such as shipping, copying, printing, postage, recycling, storage can be as much as 31 times the purchasing cost.
We all know that paper documents and forms are bulky. How often a few sheets of paper here and there turn into piles of documents, bringing confusion and inconvenience! Here are some of the data points by a major international company providing consulting and audit services.
– US companies spend approximately $20 on labor costs in order to file a document; $120 on labor is required to find a misfiled document and $220 to reproduce a lost document.
– Out of all documents generated, up to 7% are lost.
– For lost documents, companies pay the cost of searching 6 times the value of the original document.
What About the True Paper Cost?
Here’s more information that will help you understand what the companies’ expenses on paper forms are:
– PrintAudit found that businesses spend up to 3% of their revenue just on printing documents. If, for instance, your annual revenue is $5 million, then that’s $150,000 spent just on using the office printer every year.
– According to Delphi Group, companies on average spend $25,000 to fill a typical four-drawer file cabinet and $2,000 to maintain it annually. Over its life-span, a single sheet of paper ends up costing an average of $30.
– Citigroup, a large financial service company, determined that if each employee used double-sided coping to conserve just one sheet of paper each week, the firm would save $700,000 each year.
In short, implementing paper-reduction measures could save your company more money than you might think.
Paperless Office Trend
A paperless office is a work environment in which the use of paper is eliminated or greatly reduced. This is done by converting documents and other papers into digital forms. An early prediction of the paperless office was made in a 1975 Business Week article, but mobile devices have made going paperless finally possible.
There are many uses of paper that cannot and shouldn’t be replaced. However, there are numerous businesses that still have inefficient paper systems in place that could be revamped. Such a mobile business app development company as Snappii offers the best solution for the transition to modern mobile forms. Snappii differs from its competitors in a way that it offers not just mobile forms but powerful mobile business applications with even more useful features. Please visit our page for more information. Paperless office is our reality, stay in trend with Snappii!
Also see the infographic below