Cost Comparison of Document Imaging Services | Records Reduction

Cost Comparison

Cost Comparison of Outsourced Imaging/Paper Scanning Vs. Off-Site Records Storage for Ten Small Bankers Boxes for 10 years

(Actual numbers provided by a leading records storage company)

Assumptions:

One small bankers box = 1.2 cubic feet One small bankers box contains 2650 pages or 26,500 in 10 There will be 3 retrievals of files from each box over the next 10 years. 1 retrieval will require a Rush Retrieval and 2 will be Regular Retrievals We are using 6 1/2 cent per page for scanning pricing. We can offer lower prices for most files.

  Offsite Records Storage Costs (actual numbers taken from leading offsite records storage provider)

Initial Pickup of 10 boxes

Pickup Service ($20 plus $2.40/box handling charge) $ 44.00
Receiving Costs and Data Entry Costs ($2/cubic ft) $ 24.00
Storage Cost for 10 years ($.31/cubic foot/month X 12 months X 10 years) $ 446.40
2 Regular Retrievals from each box – File from carton ($3/file) $ 60.00
2 Regular Deliveries ($20 plus $2.40/box handling charge) $ 448.00
1 Rush Retrieval from each box – File from carton ($6/box) $ 60.00
1 Rush Delivery ($50 plus $2.40/box handling charge) $ 524.00
Remember that each of these 3 files will have to be picked up again to be returned to storage. It would be $22.40 X 30= $672 if you called for individual pickups. We want to use real numbers so we’ll assume that some of the returns will be combined with other pickups and only include 1 out 3. $ 224.00
After 10 years, there’s a “Permanent Withdrawal Fee” $ 36.00
Your personal shredding costs – typically $5/box $ 50.00


Total Cost of Storing 10 boxes for 10 years and making 3 Retrievals per Box $1,916.40

*Remember that costs could easily go higher with more retrievals.

Scanning Assumptions

Prepping, Scanning, Indexing & Shredding Cost = 6 cent/page (We can often do it for less.) 2600 pages X 6 ½ cent/page X 10 boxes = $1560.00 *This estimate assumes box is full. Usually it’s much less per box.

Total Cost of Imaging 10 boxes $1560.00 (vs. $1916.40 for storage)

Great Prices, Better Service!!