Do you spend a substantial amount of time searching for files? Do your fellow employees?
The average office in the United States accumulates more than 10,000 sheets of paper every year, most of which are simply stored away never to be used again. In fact, nearly half of documents in file cabinets are duplicates.
It would be one thing if built-up file cabinets only took up space and nothing else. However, the average employee spends the equivalent of 21 working days per year simply looking for files, six of which are spent searching aimlessly for lost documents.
That's a lot of labor hours - and, for the company, labor costs - that could be used for more productive purposes.
Paperless document management can help
So what exactly can organizations do to make searching for files easier? Implementing effective document management, such as that offered by paperless systems, likely provides the answer.
On average, companies lose one out of every 20 files, leading to more time and money spent recreating those documents. Paperless document management solutions generally contain features like metadata, SmartList integration and content searches, with different filters that make locating files a simpler process. Not only will this dramatically reduce the time needed to locate important documents, but it will likely lead to fewer misplaced items as well.
And when it comes to audits, paperless systems can be a lifesaver.
"In the past, the [auditors would] give me a list of what they wanted and I would go and plow through a whole years worth of documentation to find what they needed and hope it hadn't been filed in the wrong spot," said Sandy Moore, vice president and CFO of Sauder Customer Fabrication.
A steel pressure vessels manufacturer, Sauder has to comply with annual audits, a process that Moore said used to take three people two weeks to complete. After implementing paperless systems, she said the company has become significantly faster and more effective at putting together audits.