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Document Management Math (aka: How much is your paper costing you?)

How much is your paper costing you?

Here at RMMI we take a lot of pride in the services we provide to our customers and we’re constantly looking for new and innovative solutions for our clients’ document management needs. Around 2 years ago we introduced our managed hosting solutions for PaperVision Enterprise and PaperVision Capture – making the transition to digital much easier for our clients with limited or already overburdened IT departments. At the time we knew of a few client’s who desperately needed this service, but we had no idea just how popular our hosted solutions would become.

RMMI is now hosting over 110 million digitized documents for our clients, a number that becomes even more impressive when you start to do the math on storage requirements for that amount of paper. One hundred and ten million pages is equivalent to approximately 36,500 banker’s boxes or 3,150 4-drawer filing cabinets. The average floor space required for a 4-drawer filing cabinet (including working space and isles) is just over 7.5 sq. ft. – meaning you would need almost 24,000 sq. ft. of office space just to store those documents. With office lease rates in the Denver Metro area hitting a record high average of $28.38/ sq. ft. in Quarter 1 of 2019 (according to a report published by CBRE) storing those 110 million documents would cost over $680,000/yr. in lease rates alone!

Have you ever stopped to think about just how much your paper is costing you? Calculating the storage cost is simple math, but what about the improvements in efficiency? With RMMI and PaperVision your documents are indexed, searchable, and securely available from anywhere.  You can retrieve the specific document you need in seconds, without ever leaving your desk. (Can you imagine searching through those 12,600 filing drawers to find the one page you needed?)  How about the time spent searching for missing documents?  With digital document management, your files will never be ‘misplaced’ or ‘lost on someone’s desk’.   With hourly employment rates on the rise, saving even a few minutes on each ‘document pull’ can add up to thousands in savings over the course of the year.

How much money and time are you losing with your current document filing processes? Are you ready to ‘Make the Move to Digital’? RMMI’s industry leading experts are here to help! Contact one of our representatives today to find out more!