Research shows us that on average a manually, paper-based document costs approximately $5.00 per document to produce.
That figure includes the complete life cycle of a document:
- Production – the cost of paper, toner and inc
- Handling – sending, copying, filing, transporting
- Storage – scanning and archiving
- Disposal – shredding and burning
But that is only part of the picture. Sometimes indirect costs can be even greater:
- Time consuming and drain of resources
- Potential for human error
- Risk of fraudulent activity
- No way to track conformation to regulatory compliance
In real terms, that means an organization with 200 employees, who signs an average of 500 documents annually will produce 100,000 documents. At an average cost of $5.00 per document, that’s $500,000 annually.
The math is clear; going digital can save you hundreds of thousands of dollars annually.