Slash Your Paper Storage Costs with Document Management

Are rising operating costs putting a dent in your ability to grow your business? You’re not alone, but a growing number of companies have found a way to reduce how much they spend on day-to-day operations.

The High Cost of Storing Paper

Those filing cabinets in your office may not look sinister, but they’re taking a chunk out of your revenues. Here’s how to pin down the cost of paper document storage.

1. Calculate the square footage

   Measure each of your filing cabinets, or choose one that represents the average size of your existing line-up. Next, open a drawer and ask an employee to access a file. Include this space required to access files in your calculations. Multiply the total square footage by the number of filing cabinets in your office. (To make the process easier, use 17 square feet as the standard requirement for the average four-drawer cabinet.)

2. Calculate your rental cost per square foot

   Take the cost of a month’s rent and divide by the square footage of your office space.

3. Calculate the cost per filing cabinet

   For a final total, multiply your cost of office rent per square foot by the square footage currently devoted to paper document storage.

Get Your Money Back with a Document Management System

You may not be able to get a refund on money wasted on paper filing systems, but you can put a stop to the madness. Electronic document management requires virtually no physical office space. After you’ve scanned and routed your files to your document management solution, you can shred the hard copies and reclaim the space occupied by filing cabinets.

Want to learn more? Contact us at Function4 to learn about our document management solutions today!