You may not realise it, but on-site document storage could be costing your business significant amounts every year. In most companies, filing cabinets and archive storage boxes are a common sight. But there are a lot of hidden costs attached to in-house document and record storage, from staff wages to the cost of the receptacles themselves and the rent on wasted space.
So, how much does on-site document storage cost? In this article, we break down the true costs of on-site storage, as well as showing you the benefits and drawbacks. Read on to find out more.
A breakdown of the costs of on-site document storage
If you’re storing documents in your office, there will be a business cost in office space and resources. For example, office space in London (West End) can cost up to £117.50 per square foot per month. And say if your company had 4 standard filing cabinets, you’ll be using a minimum of 13 square feet to keep them. That’s a huge £1,527.50 of document storage costs a month to keep these cabinets.
Of course not everyone rents in London. Office space in Manchester costs an average of £37.50 a month, meaning 4 standard document storage filing cabinets will cost a business £487.50 a month, or £5,850 if you look at it annually. On top of that, you also have to factor in the document storage costs such as paper, lever arch files, printer maintenance, employee hours organising, and the list goes on.
You could cut down on your archives to save money, or you could look at investing in off-site storage to decrease costs even further. With Shredall SDS Group’s business document storage, your business can be confident that all your documents are secure, indexed and fully accessible, without the daunting costs and responsibilities of keeping them on-site.
Have your document storage costs increased recently?
If you're a business owner, you know that costs are always on the rise. And document storage is no exception. In fact, the cost of on-site document storage has increased significantly in recent years.
Office space is becoming increasingly expensive, and this is driving up the cost of storing documents on-site, but businesses are also in need of more secure and compliant storage space, making document storage costs soar.
But there is a solution! Off-site document storage is a cost-effective and secure way to store your documents. At Shredall SDS Group, our document storage prices have remained at a consistent and competitive price, even with the recent cost rises.
If your document storage costs are becoming excessive, get in touch with us today to see how much your business could save. We can help you assess your needs and develop a custom storage solution that fits your budget.
What’re the drawbacks of on-site storage?
The cost of on-site document storage is one of the biggest disadvantages, however it's not just the cost you need to consider. There are a number of drawbacks to on-site storage that affect the wider business, including your operations, your employees and your data.
1. Takes up valuable office space
On-site archive storage takes up lots of room; in larger businesses, storage space can even use entire rooms that could be otherwise used better. And as your business accumulates more documents, you may even need to move to a larger premises, costing you more. With off-site storage, not only will the office be cleaner, but there’ll also be more room for productive tasks, making the space more cost-effective.
2. Employees have to spend time organising
Such a large amount of integral documents and data needs to be managed. Most often it’s the case that the files are organised by employees, meaning a lot of their time is spent filing and organising rather than working on important tasks. On top of this, there is a higher risk of human error and misplacement, meaning files can be lost or difficult to access.
3. Lack of disaster recovery plan
On-site document storage requires that your building is safe and secure. If there’s a fire, a pipe bursts or there’s a break in, there’s a high likelihood of your documents being damaged and irreplaceable. If you have on-site storage, you’ll need a disaster recovery plan for circumstances such as these.
4. Compliance and audit issues
As with any data storage, it’s important to monitor compliance. However, with bulky on-site storage, staying compliant with GDPR and creating a clear audit trail can be tricky due to the physical nature of the files.
If your business is struggling to keep on-site documents organised and compliant, you may want to consider a document management software: a simple, affordable web-based system that lets you quickly locate, view and manage all of your documents.
Are there any benefits of storing documents on your business premises?
Although there are plenty of drawbacks to on-site storage, you’ll be pleased to know that there are some advantages.
1. Instant access to data
With on-site storage, your documents and data are only a short walk away. Having your documents stored so close to where you need them is incredibly helpful to your entire company. However, a document management software offers the same benefit in a digital format, whilst also reducing your storage costs, waste and risks.
2. No third-party conflict
If you use off-site storage or an online document storage system, it’s likely that you’ll have a third-party company involved who takes care of the organisation and management of your documents. Having a dedicated service is invaluable, however can come with drawbacks such as specific opening times and the need for tech support which can sometimes get in the way of day-to-day operations.
At Shredall SDS Group, our secure off-site document storage comes with 24-hour retrieval as standard. You can simply call, email or use our online ordering service to get the documents you need the next day, or the same day if needed.
3. No internet access needed
When you keep your documents in storage on your business site, you won’t require internet access to retrieve them. So if your internet connection ever failed, your company would still be able to access the essential documents they need to continue working.
However, with our off-site storage system you’ll be able to access your stored documents from any internet based device. This means that you’ll be able to login and gain access to all your documents from your mobile device on 4G, or even working from home if the internet goes down at your offices.
How moving to a paperless office can help you
With the high cost of on-site storage, a lot of businesses have moved to a paperless office system. Although your business will be paying for the offsite storage or document management software, this is little in comparison to the costs of on-site storage over a long period of time. By moving to a paperless office, you will:
- Free up lots of office space,
- Reduce costs and waste,
- Ensure your security and compliance,
- Save valuable employee time.
Over time, you will be able to see the return on investment with a paperless office through reduced labour and resource costs. Your business will be more efficient, save money and less prone to risk.
Next steps: Get a free quote for off-site document storage
Document storage costs have risen significantly in the past few years, but at Shredall SDS Group, our prices have remained consistent to give our customers the best tailored storage solution for their business needs. Simply get in touch to find out how much you could save on your document storage costs.
We also offer a range of information management services that can support your business in the journey to becoming a paperless office: