Why You Should Go Paperless: Statistics on Paper Usage

April 29, 2021

Even though the alteration from paper to cloud may not be feasible for every business, the benefits of a paperless business can be ranging from environmental to budgetary.

Here are a few statistics to weigh for you to determine whether digitization is a good fit for your business.

  1. Companies in the US spend over 120 billion dollars per year on printed forms. 
  2. Most of these print forms become outdated in just three months, and 45% of all pages printed in the offices eventually end up in trash.
  3. A four-drawer filing cabinet with a capacity of approximately 11,000 documents, uses 9 square feet of space, costing about $1,500 per year.
  4. Paper consumption grows by 22% a year, meaning paper costs double every 3.3 years.
  5. Every 12 filing cabinets require an additional employee to maintain.
  6. Average filing expenses are about $20 per month.
  7. On average, companies lose around 7.5% of all their paper documentation.
  8. Large companies can lose a document every 12 seconds.
  9. Employees spend around 4 weeks every year trying to find lost documents.
  10. Every misfiled document costs $125.
  11. Each lost document costs $350 to $700.
  12. If fire or flood happens, more than 70% of businesses would fail within three weeks

Key Takeaway

While it may not be realistic to completely eliminate paper in your office, there are plenty of ways according to these statistics which your company can implement in order to increase your bottom line by reducing paperwork.

See how Nimbly can help you, schedule a meeting today.

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