As businesses prepare for the financial shifts to come in April 2025, the need for cost-saving strategies has never been more important.
Now is the perfect time to assess how you can better manage your resources and improve efficiency to help your business thrive. While many companies focus on obvious savings such as energy bills or rent costs, document storage is one area that often goes unnoticed.
Keeping records on-site may appear to be the economic, convenient option, but for many companies it can come with a lot of hidden costs. Wasted storage space, time lost searching for paperwork, and compliance risks can all add up over time, even if it doesn’t have a visible cost. A more structured approach to your document storage can reduce expenses, improve efficiency, and save staff resources.
The cost of poor document management
As we’ve mentioned, it’s not always easy to quantify how poor document management is costing your business unnecessary money, but let’s put it into perspective.
Office space costs – Commercial rent can be costly, so dedicating part of your workspace to storing documents could be seen as a waste of money. This space could be used for extra desks, a meeting room, or even downsizing to save on rent. Clearing your storage room gives you a chance to put valuable space to better use.
Reduced productivity – Do you find yourself wasting time on trying to find misplaced files? Those hours add up over time, and absorb valuable staff resources when they’d be better allocated to helping your business operate and thrive. Let’s say an employee earns £15 an hour, and spends four hours per week looking for files. That’s £3,120 per year of time spent unproductively.
Compliance risks – Many industries have strict rules on document retention periods, alongside more general data protection regulations to abide by. If records are lost, damaged or misfiled, companies can face fines or legal action.
Why offsite document storage saves you money
Document storage services do more than just free up your office space. They bring long term cost savings, a streamlined way of working, and added security.
Better organisation and efficiency – A secure storage system ensures documents are indexed and organised so they’re easy to find when needed. When storing documents with Archive-Vault, the team can send you a digital version of the record you need, or deliver the physical copy on a 24/7 basis, without you lifting a finger.
Improved security and compliance – With a reputable document storage provider, your documents will be protected against loss, theft, damage, and security breaches. They’ll also be stored in line with GDPR guidance, and securely disposed of upon request.
Increase employee productivity – Free up more time for your staff to make valuable contributions to business growth, as opposed to spending time on managing documents manually?
Lower risk of data loss – Find an offsite document storage provider that offers protection against fire and flood to ensure your records are safe and sound. Ensuring your documents are protected may also help to lower your company insurance premiums.
How Archive-Vault can help
Archive-Vault offers a cost-effective, secure solution for businesses that are looking to cut down on document storage costs without compromising on security and efficiency. As a small, dedicated team, we provide a personal service and tailored, honest advice to our customers. As an ISO-accredited provider, we are committed to providing the highest quality, compliant document management solutions for a broad range of different industries.
If you’re looking for a trusted and knowledgeable provider, the team at Archive Vault are here to help. Contact us today by calling on 01603 720722 or via our online enquiry form.
