The Hidden Cost of Onsite Document Storage

How much does it cost to store documents in your office?

With space at a premium, and the minimum storage requirements increasing, businesses are evaluating if savings can be made by storing documents offsite. We provide helpful tips in calculating what you spend today so you can measure the real value to looking at alternative information management solutions and eradicate the hidden cost of onsite document storage.

Filling cabinets are as ubiquitous to offices as the printer. While this seems like the easiest solution, it is cumbersome and surprisingly expensive. A single filing cabinet costs €1,008 per year for an office in Dublin, and €2,248 in London. [1]

How many filing cabinets do you have?

Why Records Management is Important

Searching misplaced files is time consuming, lower your team’s mood and productivity. It takes on average 18 minutes to locate a file, and more than 20% of productivity loss is due to document issues. It’s estimated that businesses waste an average of €19,00 annually.

What if you cannot find the misplaced file? Research suggests 5% of company documents are lost annually. The average office worker consumes 10,000 sheets of paper per year. So, 750 documents per employee are lost annually. Let’s say you’re a small business with 50 employees, that’s 37,500 documents lost every year!

If misfiled or misplaced, it is easy for the wrong person to access sensitive data. This is in breach of both GDPR and privacy legislation. Not only will you have to spend time searching for/replacing these, but you could be facing a hefty fine or lawsuit. Either would be catastrophic to your company’s reputation and bottom line.

Businesses spend €50–95 per month on office supplies per employee including file labels, index dividers, binders, boxes, folders, magazine holders, ink, the paper itself; the list goes on. Compounded by replacing documents, this is costing your business.

How can Records Management be Improved?

So, long story short onsite document storage and management costs your business a lot. However, there is an easy way to improve your records management! Moving your documents offsite means you can get rid of clunky filing cabinets. This reduces clutter and allows you to repurpose the space in a more productive way.

Kefron operates three storage facilities. Our secure purpose-built records centre provides multiple storage options. Our state-of-the-art shelving can hold various box sizes, stacked a maximum of four high. This all ensures your files are protected against damage over the lifetime. Environment controlled vault storage is also available with restricted access. Our records centres are CCTV monitored 24/7 and Park West security patrols the area 24/7.

Physical access is dependent on role and responsibilities, controlled by proximity card access. This means that only those authorised can access your files. We maintain a detailed audit trail for every document we store. This ensures they can be located quickly, and none are misplaced. This audit trail is visible to the client at any time.

Through our intuitive online system, you can arrange next or even same day delivery and collection![2] To make things even easier, Kefron offers scan-back services sending you a softcopy in no time. Our security and tracking allow for better compliance with GDPR and legislation, as nothing is misplaced. In the event of an audit your files can be retrieved with ease. No longer will time be wasted searching for documents, getting rid of a boring task.

This is especially important for businesses, as studies have found that, “chronic boredom ‘increased the likelihood of employees’ turnover and early retirement intentions, poor self-rated health and stress symptoms.’ Other research backs this up. A 2021 study showed that 186 government workers in Turkey who suffered from boreout also dealt with depression, and high rates of stress and anxiety. Studies show depression from boreout can follow workers outside the office, and lead to physical ailments from insomnia to headaches.”

Boring tasks, like searching for documents, have a serious negative affect on workers, and in turn your business. Eliminating such a tedious task and allowing your employees to focus on more rewarding areas improves morale and productivity.

Physical documents are easily destroyed in the event of a disaster, making a bad situation even worse. But, if your files are stored offsite, they are kept safe, there isn’t a scramble to replace them. This offers great peace of mind, allowing you to focus on your business disaster recovery.

Storing documents offsite can save your business substantial money through rent, time, improved productivity, better compliance to avoid fines, and business continuity. It’s hard to see why anyone would continue to store documents onsite. To begin your offsite document management journey, arrange a chat with one of our employees today, or see more information here.

[1] Annual office rent 2021 per m² in Dublin city centre = €630, in London city = €1,405. Average 4-drawer filing cabinet takes up 17ft² = 1.6m².

[2] Same day, 3h, delivery and collection only available in Dublin.