Whatever your current document management system may be now, you should always be looking for something to improve or somewhere to cut costs.
When it comes to the intersection between document scanning and management; scanning helps cut a range of alternative paper-based costs, making it not only a cheap investment up front but also a cost-efficient one down the road.
Average Cost of Document/Record Scanning
On average, scanning costs 7–12 cents per page scanned.
Despite that though, the overall cost of a scanning project can vary depending on if there are any other factors like whether or not pages are double-sided, stapled or bound, and just how much you have to scan.
Document/Record Scanning Cost Benefits
Scanning your records and adopting a paperless records management system help cut the costs that come with sticking to paper in a range of ways, such as:
- Saving supply and space costs
- Improving productivity
- Eliminating the costs of unnecessary security
- Lowering chances of legal noncompliance fines
Using Scanning to Cut Supply & Space Costs
Ranging from the cost of basic office supplies to the space things like filing cabinets take up, using paper has associated costs that are overlooked because we just don’t think about them.
Eliminate Supply Costs
A paper-based records management system comes with extra supply costs that can range from $200 to $1,000 per employee per year. With digital records though, you save on costs like:
- Paper of all types
- Filing cabinets
- Bindings (staples, paperclips)
- Small supplies like staplers, scissors, tape, and glue
- Pens, pencils, and other writing materials
Save on Space Costs
When storing records at an off-site location, you likely incurr a rental cost for the storage space. And if you manage in-house, you waste valuable real estate on a place to put your paperwork.
On the other hand, switching to paperless document management by scanning your hard copy files allows records to be stored in an infinitely smaller format in addition to offering the cost benefit of being a one-time investment. With digital records, a warehouse or file room of files can be stored in a hard drive that could fit in your pocket.
Using Scanning to Cut Security Costs
After scanning your files, you are able to personally manage their security levels from your desktop. You can also set up systems to track and manage access, views, printing and downloading of those records.
Manage Security Yourself
When you store paper files at an off-site location various security measures are implemented; but they also come with recurring costs..
With Document Management Solutions (DMS) software you not only save on the costs of storing files and documents, but you can also fine-tune the securities yourself to implement only what you need.
Prevent Retention Noncompliance Fines
On one hand, if you use paper documents they’re 1) easier to lose or misfile, and 2) if they’re stored off-site, you risk leaving it up to someone else to be sure you comply with retention laws.
To prevent noncompliance with retention laws and losing important information, with digital files you can both search for them by name and set automated systems for tracking record retention times to ensure you stay on top of things.
Using Scanning to Cut Productivity Costs
Compared to paper, scanning and going paperless boosts work efficiency in multiple ways:
Boosting Efficiency Using Indexing & OCR
When records are scanned, they can be indexed and OCR'd (Optical Character Recognition) to provide optimal efficiency for your particular use.
With indexed files, users can easily search for and sort different files to find records, and with an OCR reader, the documents can be editable—saving countless amounts of time (which equals money, of course).
Minimize Time Needed for Copying & Distribution
Just like how OCR and file indexing save countless amounts of time, paperless formats also provide other time benefits, like streamlined document distribution,
Rather than making copies for a meeting that are often thrown away by the end of the workday, an email or similar method can quickly send a copy of the file around the room.
This not only saves time but also money on the cost of the paper itself.
Automate Basic Management Tasks
After files are scanned, many of the tasks needed to manage previous paper copies are eliminated.
With digital files the indexing removes the need to manually file and refile records, the OCR eliminates the need to copy and print new updated versions, and many storage systems can be configured to track retention times.
Considering a Change to Paperless Document Management?
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