RESEARCH REPORT

RESEARCH REPORT

Why Outsource Record Management?

RESEARCH report of (PRISM International Inc.) Not for Profit Trade Association States that Organizations have following issues with

INTERNAL RECORDS MANAGEMENT—-

• Mangers spend an average of 4 weeks a year searching for or waiting on misfiled, mislabeled, untracked, or ‘lost’ information.
• 67% of the data lost is directly related to user blunders, making them 30 times more menacing than viruses and the leading cause of data loss.
• Paperwork is the largest overhead expense in any organization.
• Active files typically grow at a rate of about 25% annually.
• At any given time, between 3 and 5 percent of an organization’s files are lost or misplaced.
• The average cost of recreating a one-page document is $180.
• Companies typically misfile 2% to 7% of their paper and electronic records.
• Large organizations lose a document every 12 seconds.