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The Cost of Paper

9/7/2020

 
With the move to working from home, one of the restrictions for many organizations is the reliance on paper. When an organization looks at moving to a paperless office the decision is made to postpone the process due to costs. These costs are easy to calculate and include scanners, multi-monitors, PDF editing software, and electronic document management software.

However, a paperless office may cost less. To make the decision a calculation of the cost of paper in your organization is needed.

Using our spreadsheet let’s calculate the cost of paper for your organization.

Paper and Printing

How many boxes of paper does your organization use a year?

With the volume of paper, we can calculate the total pages and estimate the cost for the paper and printing.

Time to File a Document

Using the spreadsheet, input the average number of pages per document, time to file a document, and hourly staff cost.

For many, this time is considered equal to filing electronically; however, the time to file paper can be much longer when you include the walk to and from the filing cabinet. Electronic document management may also provide automatic filing of documents.

Time to Pull Documents

How long does it take someone to pull a document? For many offices, this time can be even longer than the time to originally file it.

Consider the case of the paper document that you can’t find. How long did you spend yesterday looking for a document? Moving to paperless allows for all documents to be indexed and found with a quick search.

Documents Purged

Purging of paper documents can be very labour intensive as you locate, retrieve and document the files being purged. A paperless system can do this function automatically.

Shredding Service

Purging of paper documents can be very labour intensive as you locate, retrieve and document the files being purged. A paperless system can do this function automatically.

Space for Filing Cabinets

When you calculate the square footage used for filing cabinets it quickly adds up to a significant cost.

Summary

After completing the spreadsheet, the cost of paper documents may surprise you. Reducing the use of paper and the related cost of paper can often cover the costs of moving to a paperless office. A paperless office will also provide the benefits of improved workflow, improved document sharing, quicker access, and an improved working from home experience.
To learn more about the advantages of eliminating the cost of paper, consider participating in K2's Paperless Office.

Ward Blatch

Kevin Sharma link
9/8/2020 11:34:08 am

As the Director or Sales at Doc.It, I agree with all of the above. One of our main goals is to help firms transition to a paperless office and we love the feedback we get from firms after they'd made the switch from paper!

Shannon Paret
9/8/2020 11:50:32 am

Very powerful article that highlights many issues that seem to have come to light even more so over the last few months! I have the pleasure, as a Solution Architect and CPA at Wolters Kluwer, to show our cloud iFirm Documents module in our CCH iFirm Ecosystem with integration to our iFirm Portal and Digital Signature. It has helped so many firms up their game in this time when they were feeling lost, disorganized and lacked visibility. Thank you for sharing this great summary.


Comments are closed.

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    Authors


    Ward Blatch
    Ward provides consulting and training services as the Managing Director of K2E Canada Inc. He joined K2E Canada in 2005 and is responsible for the Canadian operations of this international consulting group, which provides professional development technology education for accountants across Canada and the US. Ward lives in rural Nova Scotia and can be reached at ward@k2e.ca.

    Tommy Stephens
    Tommy is one of the shareholders in K2 Enterprises, affiliating with the Firm in 2003 and joining as a shareholder in 2017. At K2, Tommy focuses on creating and delivering content and is responsible for many of the Firm's management and marketing functions. Tommy resides in the metro Atlanta area. You may reach him at tommy@k2e.com.

    Randy Johnson
    Randy is a nationally recognized educator, consultant, and writer with over 40 years experience in Strategic Technology Planning, Accounting Software Selection, Paperless, Systems and Network Integration, Business Continuity and Disaster Recovery Planning, Business Development and Management, Process Engineering and outsourced managed services. Randy can be reached at randy@k2e.com


    Bernie Smith
    Bernie coaches businesses to develop meaningful KPIs and present their management information in the clearest possible way to support good decision making. As the owner of Made to Measure KPIs, he has worked with major organisations including HSBC, Airbus, UBS, Barclays, Credit Suisse, Lloyds and many more.

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