A paperless business is the next step in the evolution of businesses. We’ve compiled a list of four benefits paperless businesses enjoy.
1. Increased Profitability in a Paperless Business
When you read the term “increased profitability”, you may only think of the immediate cost of paper. According to a study, the average employee uses 10,000 sheets of paper per year. What else is being used on that piece of paper? For example, the paper is printed using a printer, which requires routine maintenance and upgrades. The printer uses ink and toner to transfer information to that piece of paper. So, what would happen if you went paperless? Certainly, you’ll save on the cost of paper. Similarly, you’ll be saving money on every part of the printing process, from replacing ink and toners to even upgrades or replacements to office equipment.
2. Security in a Paperless Business
What security measures does your business have in place for your customers’ and employees’ confidential information? Security is a large concern for both businesses and customers alike. It’s important for companies to address this concern by placing proper data security procedures into their everyday workflow. Cloud-based systems often offer bank-level data security to protect important customer information, employee information, and financial information.
3. Workflow Efficiency in a Paperless Business
If a coworker asks you to find a document, how long does it take for you to find it? With a document management solution, you can create a digital filing system that drastically reduces the amount of time it takes to find a document. The time you spend hunting through cabinets and bins full of paperwork for one document slows down response time. Document management gives you back valuable time to your workload.
You will be able to access the most updated version of the document. If you rely on a paper filing system, documents can be changed without you knowing it. With a document management platform, you will be able to scan physical documents to your digital platform. Secondly, you will have access to publishing features and content approval tools so that the document reviewing process is simple and collaborative. Above all, you’ll increase productivity while minimizing the possibility of lost information.
4. Business Continuity in a Paperless Business
Have you ever thrown out a paper only to find later that you needed that document? When you throw out an important paper, it’s gone. In other words, that means even though you need that document, you may have to remake the document from scratch. On the other hand, when you go paperless, electronic files allow for multiple backups. Cloud-based document storage platforms can supply pre-scheduled automatic backups so you can focus your time on other important needs for your business.
Interested in learning more about going paperless? Reach out to one of our experts to discuss tailoring our total technology platform to your specific need.