Paper Processing Cost Tool
Do You Know Your True Cost of Processing Paper?
This tool was developed through 14 years of experience in working with our clients, as well as through extensive research. Although some of the cost categories can be difficult to quantify, their validity is based on GAAP (generally accepted accounting principles) and their respective cost are required to accurately identify the true cost of processing paper. Sources of research include a 1998 Cooper & Lybrand study, Gartner Research, several articles from Document Magazine, TAWPI www.tawpi.org and the sixth edition of "Accounting for Decision Making and Control by Jerold L. Zimmerman from the University of Rochester.
Some key statistics that stand out from the Coopers and Gartner research regarding the cost of processing paper that further make sense of what can seem like very high cost are the following;
- 90 percent of all the pages handled each day merely get shuffled.
- The average document gets copied 19 times.
- Companies spend $20 in labor to file a document, $120 in labor to find a misfiled document, and $220 in labor to reproduce a lost document.
- 7.5% of all documents get lost, 3% of the remainder get misfiled. Source: Coopers & Lybrand
- For every dollar spent producing a paper form, $30 to $150 are spent processing it. Source: Gartner Research
Although these studies are becoming dated, our experience with customers tells us many companies can significantly reduce their cost by eliminating the paper. Our internal case studies confirm this. Eliminating paper processing is really pretty simple when you think about it. It's about efficiency an innovation.
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