Onsite document storage might initially seem cost-effective, but many hidden expenses can impact your budget. From material costs to office space utilisation, the true cost of storing documents onsite is often underestimated. This article explores these hidden costs and the benefits of offsite storage solutions.
Material and Labour Costs
Storing documents onsite requires various materials. According to a recent site survey with a client, each lever arch file costs around £16.00 in raw materials (folder, paper, printing, etc.). Additionally, it attracted 2.5 hours of staff labour to compile, handle, and access in the first 12 months of its life. This labour cost quickly adds up, especially in businesses handling large volumes of documents.
Office Space Utilisation
Office space is a significant factor in the overall cost of onsite storage. In prime locations like central London, office space is expensive. For example, the cost to rent space for a single 4-drawer filing cabinet in London can reach approximately £700 annually. This space could be better utilised for core business activities rather than storing documents.
Security and Compliance Risks
Onsite storage often lacks the robust security measures needed to protect sensitive information. This can lead to compliance issues, especially with regulations like GDPR. Offsite storage providers, such as Storetec, offer enhanced security features, ensuring that your documents are protected and compliance standards are met.
Environmental Control
Keeping a paper archive can be expensive to ensure long-term document protection and preservation. Documents stored onsite are susceptible to environmental factors such as humidity and temperature fluctuations, which can lead to deterioration over time. Offsite storage facilities are designed to maintain optimal environmental conditions, preserving the integrity of your documents.
Benefits of Offsite Storage Solutions
Space Optimisation: By outsourcing document storage, businesses can free up valuable office space, allowing for more productive use of their premises.
Quick and Easy Access: Services like Storetec’s Scan-on-Demand provide immediate access to stored documents without the need for upfront digitisation costs. This ensures that you can retrieve necessary documents quickly and efficiently.
Enhanced Security and Compliance: Offsite storage facilities offer advanced security measures, such as internal and external CCTV, monitored fire and intruder alarms and restricted access control. This ensures that your documents are safe and that your business remains compliant with data protection regulations.
Cost Savings: Despite the initial perception, offsite storage can be more cost-effective in the long run by reducing the need for expensive office space and minimising the risk of compliance penalties.
Preservation: Offsite storage facilities are a climate-controlled environment equipped with fire detection and prevention systems. All files are stored on high-density shelving units, protecting them from dust and moisture.
Conclusion
The hidden costs of onsite document storage can significantly impact your business’s bottom line. Transitioning to an offsite storage solution with a provider like Storetec can lead to substantial savings, improved security, and better use of office space.
For more information on the benefits of offsite document storage and how Storetec can assist your business, contact us today. Discover how we can help you optimise your document management strategy and reduce hidden costs associated with onsite storage.
