Save up to 50% by scanning instead of storage
Scanning really can be cheaper - and more efficient
Many companies believe that storing their documents is cheaper than scanning. Costs are spread over many years and retrieval is easy - although not instant. However if you look closer the reverse can be true. An example using some average costs below:
A company sends 60 archive boxes to storage per month, (a box averages 2000 sheets each) giving 720 boxes per year (or 1,440,000 sheets) sent to storage.
The table below sets out the cost of 1 box stored for 7 years (the standard document retention time), the admin costs and retrieving a document from the box twice in its lifetime.
Destruction at the end of the retention must also be taken into consideration. The normal period is 6 years plus current. The average cost of this £1.95 per box - a years’ worth of boxes are destroyed at the end of the 7th year. We have assumed above that destruction will take place. Without these policies in place, your archive could grow exponentially!
|Storage for 7 years at £0.45 per month||£37.80|
|Initial box purchase||£1.45|
|2 retrievals at £25.00 per trip||£100.00|
|Check out/in at £1.45 per event||£5.80|
|Destruction in year 7||£1.95|
So the 45 pence per month storage ends up at the whole life ownership for 1 box of £148.99. This does not allow for inflationary increases in charges or variable storage periods if there are not documented retention/destruction policies in place.
So whilst the headline monthly costs of storage seem low, whole cost can be anything but.
The ‘unknown’ in all this is the delay in getting your vital documents back to you - "instant retrieval" is not a term normally associated with box storage!
The benefits of scanning, the Cap Ex of storage
By comparison a box of 2000 sheets scanned to CD can be completed for £70.00. Remember you can get the equivalent of 8 archive boxes on 1 CD and make as many copies as you wish for instant retrieval. Alternatively, you can have your scanned data uploaded to your own servers for the same cost. We also offer online document management for a small additional cost.
Capital Expenditure need not be an issue either - our Totalscan package allows you to scan your archive for a fixed monthly cost - all the advantages of storage but with the added benefits of an electronic archive.
A conversion process to suit your needs
Lightspeed will normally get a call when an archive has been growing over the years and the costs are starting to show: at this point it is relatively easy to implement change so an immediate reduction in your archiving costs can be achieved.
Ideally, we would recommend that you start by placing the current and subsequent documents to an electronic solution rather than storage.
Next, divert all retrieved documents currently in storage to electronic format rather than back into physical storage. This will have the immediate effect of stopping your existing physical storage growing and assuming a destruction policy is in place, your physical archive will begin to reduce.
But the figures only tell one part of the story. Add to this the other non-tangible benefits like ease of access, instant retrieval, protection of important company records (box storage alone is not a disaster recovery option) and multi user access, the physical savings could well be the thin end of the wedge.
Whether you have boxes in storage now, or were considering it, we can help you. To find out how much we can save you. please contact us.