When it comes to your bottom line, there is little to no wiggle room. From printing costs to rework to litigation–the real cost of paper can be astronomical. Find out why paper should be a thing of the past and how you can eliminate the paper weight from your business.
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Paper Weights–How Eliminating Paper Waste Can Save Your Business
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Studies show that a $5 ream of
paper–after storage, copying, printing,
postage, disposal, and recycling–uses
roughly $155 in indirect costs.
10,000
With the average office
worker using roughly
10,000 sheets of copy
paper a year, these
costs add up quickly.
According to Statista, construction spending accounted for $687 billion in 2014,
with roughly $34.35 billion going to rework. With over $1 trillion of construction
spending in 2015, and that number growing every year, rework could cost firms over
$50 billion in 2016.
THE COST OF REWORK
WHAT CAUSES REWORK?
The direct cost of rework typically averages about 5% of a
construction project budget.
Drawings, specs, submittals, RFIs–whatever the information, paper gets outdated fast.
With plans changing constantly throughout a project, team members may be working
off of outdated information. And that means rework.
$687 billion
$1 trillion
2014 2016
REWORK
$50.0
BILLION
REWORK
$34.35
BILLION
Causes of construction rework:
are change-related are error related other
37%
13%
The main causes of rework and their
average monetary weight per job
Engineering & Review 60%
Human Resource Capability 21%
Material & Equipment Supply 15%
Planning & Scheduling 4%
WHAT ARE THE POTENTIAL CONSEQUENCES?
Between 2010 and 2011, the
percentage of engineering and
construction companies with
lawsuits in excess of $20 million
increased from 17% to 37%.
Eliminating paper waste and streamlining operations can reduce rework and boost
quality standards. Astronomical litigation costs and a greater exposure to lawsuits,
means keeping your project in check is more important than ever.
17%
37%
2010
2011
of construction/engineering firms were the most likely
industry to add an outside counsel roster.42%
of companies reported spending more than $1 million
on litigation; up from 53% in the previous two years.71%
$
5= $
155
50%
Paper Weights
How Eliminating Paper Waste
Can Save Your Business
Incorporating lean practices can:
boost efficiency eliminate waste reduce the cost of rework
increasing your profit margin and ultimately giving you a bigger paycheck
When it comes to your bottom line, there is little to no wiggle room. From printing costs to
rework to litigation–the real cost of paper can be astronomical. Find out why paper should
be a thing of the past and how you can eliminate the paper weight from your business.