•  “90% of records filed after the completion of a transaction are never referred to again.” (Records Management, General Services, State of Tennessee; hereafter: “TN”)
  • “67% of data loss is directly related to user blunders, making them 30 times more menacing than viruses and the leading cause of data loss.” (Tandberry Data, 1998)
  • “Active files typically grow at a rate of about 25% annually.” (Cuadra Associates)
  • “Keeping some records but not others beyond their scheduled retention can increase exposure to negative inference in audit or litigation.” (TN)
  • “Organizations without retention programs can often remove from higher-cost offices areas as much as 55% of records being kept there—as either obsolete (to be destroyed immediately) or inactive (must be retained but may be transferred to a low-cost records center).” (Robert Allerding, CRM, FAI, records management consultant)
  • “Because they have taken no inventory, most organizations have no way of knowing what all their information assets are and where those assets are located.” (Information Management Associates, Inc. hereafter “IMA”)
  • “At any given time, between 3% and 5% of an organization’s files are lost or misplaced. The average cost of recreating a document is $180. Annual loses for a Fortune 1000 company with one million files is 5 million dollars.” (Survey reported in Information Week)
  • “Six percent of PCs will suffer an episode of data loss in any given year; each incident costs an average of $2,557 to fix, including costs such as retrieving and recovering the missing information, lost productivity, technical services, and the data’s average value.” (“The Cost of Lost Data Report”, Dr. David Smith, Pepperdine University, 1999)
  • “Office workers can waste up to two hours a day looking for misplaced paperwork – at total of 500 hours (62.5 days) per year.” (TN)
  • “Computer users spend 7.5% of their time on a PC looking for misplaced files.” (Survey reported in Information Week) · “Companies typically misfile 2% to 7% of their records.” (From survey conducted by New York City chapter, ARMA International)
  • “30% of paperwork is useless and could be eliminated. 37% of photocopies made are unnecessary.” (TN) · “7.5% of documents are lost forever.” (Cuadra Associates)
  • “U.S. managers spend an average of 4 weeks a year searching for or waiting on misfiled, mislabeled, untracked, or ‘lost’ papers.” (Cuadra Associates)
  • “Large organizations lose a document every 12 seconds.” (Cuadra Associates)
  • “While physical volume of records will continue to be reduced through greater and greater information packing density, the number of records grows faster than the rate of disposal, and the need for maintaining accuracy of information, effective indexing, correct retrievals, and application of retention scheduling does not diminish.” (IMA)
This information was excerpted from a post on LinkedIn by Vasant S. Pulari, a service delivery professional from the Mumbai Area in India.