Document storage prices can vary. Professional document storage typically costs around $0.50 to $0.95 per box each month; smaller projects cost more. In-house storage, however, may soar up to $600,000 per year for a company with 100 or more employees; this estimate accounts for labor, space and supplies.
The location, the provider, and your specific needs all factor into the cost of off-site storage. The biggest factor, however, is the volume of your documents. The number of documents you have and, in turn, the number of boxes required to hold them will influence much of the cost.
We’ll discuss the details about why the prices of professional storage and in-house storage differ, helping you understand the benefits of secure professional storage.
Costs Beyond Per-Box Fees for Professional Document Storage
Outside of the volume of documents you have to store, additional factors can impact the cost of professional document storage services. The following are some of the most common factors.
| Cost Factors for Professional Storage | Considerations |
| Document preparation | Does the provider need to remove staples, paper clips, or tape? |
| Double-sided documents | Are there only certain documents that are double-sided? |
| Indexing | Do you want your boxes indexed for easier retrieval and tracking? |
| Additional security measures | Do you have critical documents that need extra security? |
| Chain of custody | Do you need documentation about who has accessed, moved or updated boxes? |
| Custom retrieval | Does your business have emergency retrieval, next-day retrieval, or regularly scheduled retrieval requirements? |
| Pickup services | Do you have documents that require regular archiving? |
| Consulting services | Do you need additional document management support? |
| Backup storing and retrieval | Is your business interested in tape rotation and vaulting? |
| Secure destruction services | Do you need secure disposal for documents that have met their retention requirements? |
Determining which services you need will depend on your business and industry. For companies that need access to their records on a regular basis for auditing, compliance, or legal reasons, a full package of services might help. However, for businesses who don’t foresee a regular need to access their documents, a more basic package works well and can be more cost-effective.
The Cost of Storing Documents In-house
Keeping documents in the office can ultimately cost more when compared to other document storage options. This is especially true when considering alternatives like off-site or cloud storage services.
Because document retention periods can range upwards of five or more years, the overall volume of documents quickly begins to stack up. When you need progressively more resources and supplies to store them, the overall cost goes up, too.
These factors impact the cost of storing documents in the office include:
- Buying physical paper to print documents
- Maintaining printers and ink to produce and share documents
- Filing cabinets to store documents
- Office space to store filing cabinets
- Labor costs for employees to find, retrieve, and re-file documents
The average office worker in the U.S. will go through roughly 10,000 sheets of paper each year. With the average standard box of copy paper able to hold 5,000 sheets and costing approximately $40 a case, the price per employee over the course of a year may hover around $80. Here’s a hypothetical example, showing the cost breakdown:
| Cost Factor | Price Estimate (Based on a 100-person company) |
| Paper (200 boxes/year @ $80/employee) | $8,000 |
| Filing cabinets (24 @ $350) | $8,400 |
| Office space (7 sq. ft. per cabinet @ $17.50 per sq. ft) | About $2,940 |
| Labor (retrieval time, filing, etc.) @ $15/hr. | $580,000+ (requiring multiple who are dedicated to managing these activities) |
Considerations for Professional Document Storage Services
With real-number examples, it’s more clear just how much in-house document storage can cost. Maximizing cost and efficiency is key for business success, so professional storage services are a beneficial solution for almost any organization to adopt.
When looking for a professional document storage provider, it’s important to ask about what services are included in their offering. A few questions you might ask include:
- Do you have a bar-code inventory control system to keep track of my documents?
- Where will my documents be located?
- Who will have access to my documents?
- How fast are you able to locate and deliver my documents?
- Are there emergency retrieval services available?
- Are you able to provide a written contract?
Storing documents in the office often means making costly investments and losing out on potentially revenue-driving office space. Today’s alternatives — offsite document storage, cloud storage, and document management systems — can offer more cost-effective benefits and help you and your employees focus on driving business forward.
Compliance Factors that Impact Document Storage Pricing
If you manage records for a medical practice, financial firm or any other regulated business, you need to account for compliance factors that also may impact pricing. Security, tracking, and retention are key considerations. Compliance costs typically account for these factors:
Chain of custody: If you need documentation related to who has handled, moved, or updated the boxes at each stage, then chain of custody documentation may include barcode scanning and more detailed access logs.
Records retention schedule: The legal requirements for records retention differs per industry; state laws also impact retention. Understand your legal retention requirements when choosing a storage provider.
HIPAA: Any practice or office that handles patient records typically needs to adhere to HIPAA, which protects patient privacy. Documents may require more oversight for access, storage, and destruction.
SEC Rule 17a-4: Based on this SEC rule, financial firms may need to retain records on non-rewriteable and non-erasable media for a set period of time. This may impact pricing.
Find Off-site Document Storage With Record Nations
If your business is ready to outsource your document storage, Record Nations can help. Our nationwide network of providers offers secure document storage services, along with document scanning and destruction. Our partners can store your records quickly, easily, securely, and in compliance with your industry’s regulations and standards.
To start a document storage service in just minutes, fill out the form or give us a call at (866) 385-3706. We’ll connect you to a provider in your area who can assist you in your records storage project whenever you’re ready.
FAQ
When researching professional document storage services, beware of hidden fees like fuel surcharges and minimum service fees. Always request a contract and read over the details carefully. Ask about any fees or charges you don’t understand.
In-house document storage costs more in the long run for companies, with total costs soaring around $600,000 (when employee costs are added). Professional document storage assesses fees based on project size, location, pickup fees and other costs. However, you may expect to pay only around $0.50 – $0.95 per box each month, saving your company a significant amount of money.
Smaller projects cost more per box as the costs are spread over a smaller volume. Larger projects may be more affordable based on the price per box.
Yes, document storage pricing typically includes retrieval. However, you should always review the contract from your provider to understand costs and the details of everything included in your storage agreement.
