Insightful New Study Leads to Development of ‘Savings Analyzer’ to Help Businesses Save Money on Document Storage, Shredding and Finishing

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High costs cited as No. 1 concern with off-site providers; Fellowes creates online tool to help uncover potential savings

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By answering just a few short questions in a brief survey, users will be given an immediate recommendation on ways to save costs by bringing their document management services in-house—therefore helping them to make better decisions for their businesses.

According to a recent survey (1) by Fellowes, Inc., a company committed to innovation in the workplace since 1917, 65% of business decision makers at small, medium and large sized businesses cited high costs, associated with their off-site document management, as the No. 1 reason organizations decided to leave their off-site provider and perform these functions in-house.

Launching today, the Fellowes Savings Analyzer provides users with an instant, customized calculation on the projected cost-savings they could realize using an in-house solution, by answering just a few short questions.

“Fellowes developed the Savings Analyzer tool to help business decision makers uncover potential cost-savings, up to 70%, by switching from off-site to in-house document management,” commented John Fellowes, President of Fellowes, Inc. “By answering just a few short questions in a brief survey, users will be given an immediate recommendation on ways to save costs by bringing their document management services in-house—therefore helping them to make better decisions for their businesses.”

- Efficiency Also an Issue with Off-Site
Three out of four business decision makers do not believe their off-site provider has had a positive impact on the efficiency of their business. On the other hand, those who switched to in-house—more than half of respondents—stated that their in-house solution has positively impacted their business in terms of cutting costs and improving efficiency.

- Multiple Savings Incurred with an In-House Solution
Eighty-four percent of businesses using an off-site document storage, shredding and finishing provider stated that using off-site had either no impact or a negative impact on their business in terms of expense. However, a number of fees—often hidden—were reduced when businesses decided to take their document storage, shredding and finishing in-house, including: Storage and retrieval fees, fuel surcharges, odd-size boxes, re-boxing, rush retrieval, rush delivery, storage minimum, handling charges, program fees, archival destruction / shredding, detail summary and billing fees, and photocopy charges.

- Instant Response on Your Cost-Savings Opportunity
For any business decision maker unsure about switching to in-house, the Fellowes Savings Analyzer provides an instant response. By answering just a few short questions about their current usage of records storage, shredding, binding and laminating services along with current costs, users can receive an instant recommendation on ways to save and, if requested, immediate follow up from a Fellowes specialist.

- Additional Concerns Come with Off-Site
Along with the additional costs associated with using an off-site document management solution, 86% of respondents stated that it takes their current off-site document management provider anywhere from one to four days to retrieve and deliver their documents, without incurring rush or additional charges—three times longer than with an in-house solution—therefore greatly affecting efficiency of the organization. With an in-house solution, all documents are within immediate reach.

- A Closer Look at Business Decision Makers
Fellowes surveyed business decision makers at small, medium and large sized businesses to better understand the challenges regarding off-site document storage, shredding and finishing. The results uncover the benefits of in-house document storage, shredding and finishing and prove that businesses firmly believe that an in-house solution leads to greater efficiencies in control, convenience and cost.

- Fellowes: Heritage and Innovation
Fellowes has a history of helping businesses with their document management solutions, and has done so since 1917 when they invented the first Bankers Box®. Today, Fellowes, still a family-owned and –operated company, continues to develop innovative solutions for the workspace.

For more information on the Fellowes Savings Analyzer and calculating cost-savings, please visit http://savingsanalyzer.fellowes.com

(1) Results are based on 575 surveys completed by business decision makers at small, medium and large sized businesses on behalf of Fellowes, Inc. between July 23 and 26, 2012, by Research Now. Respondents were drawn from a national online panel maintained by Research Now, and completed the survey online.

About Fellowes, Inc.
Fellowes, Inc. offers an extensive range of products to equip the workspace, including paper shredders, binders, laminators, desktop accessories and record storage solutions. Founded in 1917 by Harry Fellowes and headquartered in Itasca, Ill., Fellowes, Inc. employs more than 1,200 people throughout the world and has operations in 15 countries.

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Katie Kile
Zocalo Group
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