Searching for documents is costing SMEs a staggering £42.2million per day in lost revenue, according to independent research released.
The survey, which was commissioned by Invu and conducted by YouGov, revealed that managers and directors are wasting valuable time trying to locate documents that may have been mis-filed, moved to another location or simply lost, costing businesses dearly.
Yet despite this, according to the managers/directors questioned, less than one in four UK SMEs have replaced their paper filing with digital document management, making it no surprise that only 7% of companies operate a predominantly paperless office.
With more than 4.5 million SMEs in the UK, and the survey finding that 80% of managers and directors waste up to one hour (worth £88 on average) of their time per day looking for documents, it is little wonder that this wasted time is costing businesses £42.2 million.
But this is really just the tip of the iceberg, if the number of director and managers in each company is considered; for example, for a company of 120 people with 10 directors and managers, the cost to that business could be up to £4400 per week.
The survey, which was commissioned by Invu and conducted by YouGov, revealed that managers and directors are wasting valuable time trying to locate documents that may have been mis-filed, moved to another location or simply lost, costing businesses dearly.
Yet despite this, according to the managers/directors questioned, less than one in four UK SMEs have replaced their paper filing with digital document management, making it no surprise that only 7% of companies operate a predominantly paperless office.
With more than 4.5 million SMEs in the UK, and the survey finding that 80% of managers and directors waste up to one hour (worth £88 on average) of their time per day looking for documents, it is little wonder that this wasted time is costing businesses £42.2 million.
But this is really just the tip of the iceberg, if the number of director and managers in each company is considered; for example, for a company of 120 people with 10 directors and managers, the cost to that business could be up to £4400 per week.
Have you read these related articles?
Newsletter:
