In a letter that opens with “Dear Forlorn Filing System,” a business woman “breaks up” with her outdated filing system. While it worked at the time of its inception (20 years ago), she admits, it’s no longer cutting it.

Here’s why:

  • The average company spends $20 in labor to file each paper document and $120 in labor searching for each misfiled document.
  • Managers spend an average of 3 hours looking for documents that have been mislabeled, misfiled or have simply disappeared.
  • Businesses with 1,000 workers waste $2.5 – $3.5 million per year searching for and re-creating documents.
  • File cabinets take up large portions of office space.
  • A study states that 45% of stored information is duplicate material.

Investing in a proper document management system can cut costs in a variety of ways. Consider the rent per square foot in your office and how many square feet your filing system takes up. Think about what your employees could be doing instead of digging around for files. And imagine never having to walk to a file cabinet or get a paper cut again.

With an electronic document management system, all your business information is at your fingertips from a variety of mobile devices. Additionally, you can create and edit documents on the move, view a document’s entire revision history and access automatic backups.

Read the full article at: www.business.com

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