Have you ever considered the value of using less paper in your business? It’s probably a lot bigger than you think. There are many hard costs and soft costs to reducing your paper use. Here are 8 ways that using less paper can save your business money.
When your employees lose track of a document, it costs you money. Say an employee’s billable rate is $350 an hour. The cost of fifteen minutes spent looking for a lost file is $87.50 per day. This translates to $437.50 per week, or $22,750 annually in just time spent looking for mismanaged paper records.
This assumes just one person’s time. It does not include the staff members that get interrupted during the search, or any unrelated conversations or interruptions along the way. Switching your files to a well-managed electronic system can significantly cut your costs. If you need any help with this process, schedule a 10-minute call with me.