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Modern technology is quite amazing. Computers and digital storage media have made it possible to create, store and access vast quantities of documents while taking up very little space. While this is a great improvement over purely paper-based offices, it has not totally eliminated paper records and it is unlikely to do so for some time.
Managing the costs of keeping paper records on-site is quite a challenge for most organisations. Unfortunately, paper records, unlike digital records, take up a lot of storage space. That storage space costs your company money, and it costs you money in more ways than is immediately obvious.
In between the daily activity that revolves around your filing room, someone has to take the time to assess the state of your filing. There are a number of important aspects that will need to be taken into account when evaluating the real cost of on-site document storage.
Using valuable office space for storage rather than production is expensive and inefficient. Taking the time to evaluate and recognise this is an important first step.
The Cost of Filing
In addition to the space costs, you have storage costs. Filing cabinets, files and related stationary all cost money and then there is the cost of maintaining these items as well as the space itself.
Filing, the Productivity Killer
How much time do employees spend filing documents, searching for them, copying them, losing them, and complaining about them? A safe estimate would probably be around 25% of a normal workweek. A loss of production this high is most certainly a cost.
Document disasters can happen more easily than you think. What would happen to your business if your on-site documents were damaged, or destroyed? What would the cost of a disaster be?
Off-site document storage is far safer and has more high-tech safety systems in place than your on-site document storage ever will. Isn’t it better to be safe rather than sorry?
Document Safety and Security
Finally, there is the question of legal compliance. How safe are your documents and what legal ramifications could you face should the wrong people access your documents or important documents such as contracts or financial records get lost or damaged? In addition, once the new Protection of Personal Information or PoPI Act comes into force you will also need to make sure client records and details are safe and secure, as there are stiff penalties for non-compliance.
By now you should be aware of the many costs associated with on-site document storage. Choosing to partner with an off-site document storage company will reduce your business challenges and provide you with peace-of-mind when it comes to your valuable paper records.
Key benefits include:
The cost savings and increased value facilitated by using off-site document storage is clear. Why not take your first step to greater business efficiency and saving by contacting Iron Mountain today.
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