Paper file systems incur some surprising costs. In addition to the physical space that paper document storage requires, space that costs your organization money, studies find that the average “knowledge worker” spends 35 – 45% of the day retrieving and filing paperwork. These are hard costs that recur year after year.

Physical storage can typically be eliminated and retrieval and filing times reduced to around 5% with a properly designed and implemented electronic system. And this can be done while remaining completely compliant with internal records management and retention procedures, all applicable government regulations, such as Sarbanes-Oxley and HIPAA, or meeting standards produced by organizations such as ISO.

Further, the time and frustration of finding misplaced files is incalculable. A properly designed and implemented electronic records management system virtually eliminates misfiling and makes finding files a snap.

 

Benefits of electronic records:

• Avoids unnecessary purchases of office equipment.
• Provides continuity in the event of a disaster.
• Protects records from inappropriate and unauthorized access.
• Meets statutory and regulatory requirements including archival, audit, and oversight activities.
• Provides protection and support in litigation.
• Allows quicker retrieval of documents and information from files.
• Improves office efficiency and productivity.
• Provides better documentation more efficiently.
• Supports and documents historical and other research.
• Frees up expensive real estate space for other more important purposes by moving inactive records to storage facilities.