In every business there is an element of paperwork required and it doesn’t matter if you’re in the modern world of ‘paperless’ or ‘cloud’ based document archiving, there will still be hard copies that you’ll need to keep safe. You may not need access to them regularly, but it’s still essential to keep hold of them for a certain period of time.
In many cases, these types of business documents are kept on site, which seems like the most logical solution, but in fact it could actually cost you more money and time to do so. Read on to find out whether archiving documents off-site can save you money and the benefits of keeping them in a document archiving facility.
Cost of Labour
Keeping up to date with filing and document archiving is a time-consuming process and in most organizations there will be a dedicated person or team to itemize, organize and file necessary paperwork away. Naturally this role costs valuable time and therefore money to a business, but could this use of labour be better employed in other core areas of your business?
With a document archiving system you can reduce the cost and effort of this process as each item will automatically be processed and logged into a system, making archiving much quicker and easier to navigate. Plus you can free up more staff hours to focus on other important aspects within the business.
Cost of Real Estate
Typically there is a dedicated filing space for business archives onsite, but if you have vast amounts of paperwork this can soon become swamped, requiring you to use more valuable office space to house more documents.
However, this could be costing you more money. Looking at the cost of square footage of office space in comparison to the cost square footage of document archiving space offsite, you will find that even in premium areas such as London, the cost per foot of storing your business archives offsite will be considerably less. Thus, archiving your documents could almost pay for itself.
With offsite document archiving, you will have the option to expand your storage requirements, as and when you need them. This means that if your business expands, your storage space can too, at a significantly lower cost than searching for new business that can accommodate both your business archives and the expansion of staff and/or stock.
In the event of a fire, burglary or any other unfortunate situation at your business premises that may cause business archives to be damaged, lost or stolen, you can save yourself valuable time and money having your documents archived elsewhere. Keeping them away from the business will mean disaster recovery is less costly and you can have peace of mind that they remain safe and secure regardless.