The Real Cost of Paper Records

The real cost of paper records are underestimated. It is not only the cost of creating them but the ongoing costs of storage, retrieval and filing. Paper documents can only be in one place at a time causing workers to exacerbate the problem by making additional copies for their own filing cabinets. The more people handling a document, the more copies that will be created.

Check out these statistics from industry studies:

American companies spend an estimated $20 on labor costs to file a document, $120 on finding a misfiled document and $220 to reproduce a lost document.

Companies typically misfile almost 20% of their records.

Approximately $14,000 of productivity is lost per worker per year due to their inability to find necessary data.

Citigroup found that it would save $700,000 each year if each employee used double-sided copying to conserve just one sheet of paper per week.

A four-drawer filing cabinet costs about $25,000 to fill and $2,000 per year to maintain.

Every year 7.5 billion documents are created and 15 trillion copies are made.

The average office worker uses 10,000 sheets of paper each year.

Approximately 90% of business information exists on paper.

A typical company can cut its paper consumption by 25% by increasing the use of e-mail, on-line forms and reports, double-sided copying, and lighter-weight paper.

Source: Kathleen Wills – ExpressMilwaukee.Com

Document imaging as been in use in most large companies for over a decade but it is not widely used in the small and medium-sized enterprises. Although there is some movement in this sector to adopt the technology, most have mountains of paper, much of which must be retained for several years.

Despite their assumptions, paper is not a permanent medium and susceptible to damage from humidity, fire and water. Few small businesses are adequately insured to cover the cost of recovering these lost files. Not sure if this is the case? Ask your insurance agent about the coverage you carry.

Provided by: The Technology Centre – You regional source for document imaging –





Learn to Network

Business Networking International (BNI) Sound Networking meets Each Wednesday 7:00 – 8:30 AM at Frog Ponds Cafe

Meet local business people and find out how networking is one of the most effective methods for marketing your business.
Visitors are always welcome, just call ahead to let us know you are coming 519-371-2622.

Business Enterprise Centre Workshops

Basics of Bookkeeping (Three part workshop)
Tuesday September 19th and 26th and Tuesday October 3rd, 6:30 pm – 9:30 pm
Business Enterprise Centre Training Room $95 (HST included)
Facilitator: Jane Gallagher
This three part Bookkeeping Workshop will allow you to use the tools and information to confidently understand your financial statements and your own books. Class size is limited to 8 to allow a hands-on, individual learning opportunity for everyone.

Business Enterprise Centre Workshops

How to “Really” Start a Business
Wednesday September 20th, 9:00 am – 11:30 am, Bayshore Community Centre
FREE – Pre-registration is required
Facilitator: Cliff Bilyea
Discover the basic steps involved in starting a business, evaluating your idea, determining your market and basic rules and regulations. Attending the is workshop is mandatory for anyone applying to the Starter Company Plus Program.

Business Enterprise Centre Workshops

Introduction to Quick Books (Two part workshop)
Tuesday October 17th and 24th, 6:30 pm – 9:30 pm
Business Enterprise Centre Training Room, $80 (HST Included)
Instructor: Jane Gallagher
The first session of Quick Books provides participants with an overview and access to a trial version of the program. The second session will be questions and answers to address specific issues. Knowledge of basic bookkeeping principles is required. Limited to 8, you must bring your own laptop. (This workshop does not cover the online version of Quick Books)


Phone: 519 371 7464
Fax: 519 371 4043
Address: 1240 2nd Ave E
Owen Sound, ON N4K 2J3

Subscribe to Our Newsletter