If we asked you right now how much you spend per year on paper and print-related materials, would you have an answer? If so, you're in the minority. Most companies don't know how much they spend on paper and printing, mostly because it's difficult to aggregate and track these expenses. Printing costs are usually spread across several budgets and departments and range from physical materials to labor costs.
But the fact of the matter is, most companies are paying more than they should just to push inefficient paper around their offices. Paper-based processes are expensive, plain and simple: they cost more time, more money, and more physical space. An electronic document management system can fix this problem and eliminate the expenses related to paper. Here are three of the questions we're often asked about document management, answered.
What Makes Paper So Expensive?
The cost of paper isn't just the price tag you see when you order a few new reams. Paper costs your company much more than that; between printer and copier maintenance, labor, and storage costs, the physical toll of relying only on paper-based processes is high. In today's digital world, it doesn't make sense to rely on slow paper-based workflow.
What Does the Average Company Spend Per Year on Paper?
Get ready to be bowled over: the Minnesota Office of Environmental Assistance estimates the average business uses around 10,000 sheets of paper per employee per year. To make matters worse, Xerox estimates that about 50% of those pieces of paper are thrown away the same day they're printed. The resulting cost? $80 per office worker per year. That's a significant loss—especially when we're talking about paper that's just thrown away immediately.
It doesn't have to be this expensive to run a company. If you're ready to consider electronic document management, contact us today.