last year, during the National Digital Twin Day it was cited by the National Infrastructure Commission that there is the potential to unlock an additional £7 billion per year in benefits across the UK infrastructure sector through the digital process.
A few Facts about the paper chain
- Gartner Research found that those with teams or in professional fields working with paper spend 50% of their time looking for information.
- That same study revealed that on average, professionals take 18 minutes to locate each document.
- On average, Time effort considered it costs UK companies £100 to find a misfiled paper document.
- Lost documents become even more expensive, costing £190 on average to reproduce.
- On average, companies misfile about 20 per cent of their documents. When coupled with the numbers cited above, those errors can get costly.
- Paper documents impact productivity. Studies show that upwards of £12,000 of productivity is lost per worker each year as a result of difficulties in finding data needed to complete their job.
- The labour associated with paper usage adds up, too. One study showed that a £5 ream of paper ends up costing the average business £140 in labour costs associated with what is done with that paper.
- In terms of labour cost, your standard four-drawer filing cabinet will cost about £22,000 in man-hours to fill with documents.
- That same four-drawer filing cabinet will cost about £1700 per year to maintain. Again, these factors in storage space, labour, and other factors.
- Even today, office workers use a lot of paper. The average office worker uses about 10,000 sheets of paper per year. That’s two full cases of paper per employee.
- While this is changing, at the moment some 90 per cent of business information exists only on paper. One fire, one accident, one flood, one theft and it’s gone.
- A study by Cooper & Lybrand found that 70 per cent of businesses existing today would fail within three weeks if they had a catastrophic loss of their paper records.
- Cutting waste is easy. Industry studies show that the average business can cut paper usage by 25 per cent by increasing the use of email and online services and doing double-sided copying.
Going Paperless can be simple
Going paperless, with the SmartZone portal and APP dramatically cuts down of the amount of time spent managing the onsite to office paperwork flow and leads to increased productivity, speeds up billing.