Picking up on a thread from several years back, I redid some calculations to even out comparisons of onsite, offsite and imaging costs.  The calculations were originally done by Patrick Cunningham, Hugh Smith, Gary Link, Liz Allan, and others from the List Serv crew.  Your mileage has varied since 2008.  Can anyone update pricing and/or add electronic records storage to the mix?



Imaging: $187,500/??? for 300 boxes

347 x the cost of one year of offsite storage

2,451 x the cost of one year of onsite storage

 

Offsite Storage: $540/year for 300 boxes

0.3% of cost of imaging

7.1% of cost of one year of onsite storage

 

Onsite Storage: $7,650/year for 300 boxes

4.1% of cost of imaging

1416.7% of cost of one year of offsite storage



Calculations...


Imaging: 


300 boxes (each holding ~2600 pieces of paper) =
780,000 simplex images (duplex = 1,560,000 images).  Imaging these 300 boxes @ $187,500 = $625
per box per ??? (Not sure of costs of degradation of images over time, migrations to new systems and software)

Offsite Storage: 


300 boxes
@ $0.15 per box = $45 per month x 12 months = $540 per year
Onsite Storage: 
300 boxes x 1.2 cubic feet = 360 cubic feet x $25 cubic foot/year (assuming $50 per square foot office space costs) = $7,650 per year (excluding filing equipment depreciation)



Angel Ramos, CRM
Canonsburg, PA

--------------------------------------------------------------------



Subject: Re:
Avg. Cost offsite storage vs. onsite

Date:     Mon, 4 Feb 2008 to Tue,
5 Feb 2008


“Just to
work the problem for you, let's take the example of a standard letter-width
file cabinet.  They tend to be 26 inches
deep, with a drawer pull of around 24 inches or so.  To make the math easier, let's assume that a
cabinet with allowance for a drawer pull is 48 inches by 12 inches, or four
square feet. Depending upon aisle space, let's assume that you need another
foot.  So that's five square feet.  Assuming a fully loaded cost for space of $50
per square foot, that's $250 worth of annual space cost for that cabinet.
Figure that a five drawer standard cabinet holds 10 cubic feet. That is then a
storage cost of $25 per cubic foot per year.

 

Now that
is for standard file cabinets, which are typically very inefficient. That also
assumes class A office space to some extent. And I have not factored in the
depreciation of the file cabinet.

 

Records
stored in warehouses on proper records storage shelving can be stored much more
efficiently -- perhaps 10 or 20 cubic feet per square foot. But you then have
to factor in the cost of shelving, material.”

 – Patrick Cunningham

 

"Records
management must revisit the model. If 97% of records are born digital then you
would only need to image 300 boxes out of 10,000 potential.  Imaging both sides as a worst case situation
is only $12,000.  The storage cost of
10,000 boxes offsite would be $18,000 per year not counting retrievals and
replacing."

– Hugh Smith

 

Imaging:

300 boxes
(each holding ~2600 pieces of paper) = 780,000 simplex images (duplex =
1,560,000 images).  Imaging these 300
boxes @ [$187,500] = [$625] per box or …[$0.25…low end of spectrum] per image
simplex (duplex = $0.007 per image).  

 

Either my
math is wrong, or this is a heckuva deal to prep/scan/index/QA over 1.5 million
images.  

 

[Offsite] Storage:

10,000 boxes
@ $0.15 per box = $1500 per month x 12 months = $18,000 per year

 

Also sounds
like a good deal for box storage.” 

– Liz Allan,
RHIA, San Jose, CA


 		 	   		  
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