How much time is wasted in Information Searching?
Ever lost or not able to find
If your organizations are like most, you waste a lot of time and money manually handling and searching for paper-based documents when you could be putting that same time and money to work to improve your operation.
The High Cost of Paper Document
Here are a few statistics:
- 90% of corporate memory exists on paper.
- 80% of company documents are stored on local hard drives, and are therefore inaccessible to the organization unless they are recreated on paper.
- The average document is copied 19 times.
- In the average office – of all the pages handled each day – 90% are merely shuffled.
- In the US alone, there are more than 4 trillion pages of documents stored in offices, and nearly 250 million pages of original documents are created each day. Add copies and computer printouts and the figure soars to an astronomical 3.4 billion pages per day, and more than 1.2 trillion pages of additional documents per year.
- Average per-page storage cost is 25 cents.
Searching for Paper Document:
- Companies spend $20 in labor to file one document. (Filing volumes double every 10 years.)
- Percent of documents misfiled on a given day is 2-4 percent. • Companies spend $120 in labor to find one misfiled document.
- 7.5% of all documents are lost, and 3% of the remaining documents are misfiled.
- Companies spend $250 in labor to reproduce one lost document.
A recent study required a paralegal to find 20 documents out of 20,000 filed. After 67 hours of searching, the paralegal found 15 of the requested 20 documents. Given the same task, an document management system found all 20 documents in less than 3 seconds.
- Price WaterHouse Cooper Study