Managers and directors might have never imagined that the time they are wasting in searching files is costing millions to the UK small and medium sized firms everyday. Bad filing is making the dream of paperless office an illusion.

Findings of a survey commissioned by document management firm Invu and conducted by YouGov make a shocking revelation that managers and directors of many SMEs are wasting valuable time trying to locate documents which they might have moved, misfiled or lost.

The estimate of £42.2m loss per day is based on the fact that 80 per cent of managers and directors of 4.5 million SMEs in the UK, waste up to one hour of their time per day, worth £88 on average, in searching files.
The biggest contributor to this loss is paper. The survey points out that a meagre 7 per cent of SMEs use electronic documentation and the rest still rely on paper work.

George Derbyshire, chief executive of the National Federation of Enterprise Agencies describes the research results as very frightening, adding that findings have revealed the grave damaging effect of everyday inefficiency on the small businesses. While acknowledging the importance of prioritisation on daily basis, he emphasizes that managers must spare time for reviewing processes and systems. David Morgan, chief executive at Invu, remarks.,the fact that SMEs managers and directors waste valuable time in file search instead of spending it on developing their business is quite shocking.

Things to consider:
Paper Carrier Bags available here
paper mills at Romiley Board