| Has The Time Come To Go Paperless?

Posted in Small Business at 9:00 AM by Loftis Consulting

The term “going paperless” is bandied about a lot in business circles. But is it something that you should do now that the digital era is in full swing? For many companies, the value of going paperless isn’t entirely clear. So here are some of the ways it puts you at an advantage.

Better Security

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Leo Gaggl

Although high profile news about hacking may make it appear as if documents are safer in physical, rather than electronic form, this isn’t the case. A filing cabinet or storage box is no match for today’s state-of-the-art encryption methods. Going paperless can actually help your business reduce its security risk and remain compliant with data protection laws.

 

Lower Costs

Paperless solutions might seem expensive at first, but digging a little deeper, you soon discover that they are remarkably good value. According to the Environmental Protection Agency, businesses that go paperless save, on average, around $80 per employee per year. If you have 100 employees in your organization, that works out to $8,000 a year. Going paperless reduces the amount of money you spend paying for ink cartridges, printer paper, postage, and storage space.

 

Better Access

Not only is going paperless often cheaper than the alternative, but it also provides companies with dramatically more utility. Paperless products, like Data Serv services, allow documents to be accessed over the cloud, meaning that your staff don’t have to waste time and resources traveling to the office to view a file.

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Pixabay

The benefits of this technology are remarkable. Say, for instance, you have a client over the other side of the country who wants to know specific information about their account or policy on a Saturday. Getting one of your colleagues to go to the office, retrieve the client’s file and relay the information to you would be enormously inconvenient for everybody involved. But with a paperless system, you’re able to access critical documents on your device and pass them onto the client. Even better, you’re often able to share documentation with all your clients online, getting rid of the necessity of making the call.

 

More Office Space

Depending on your business, the amount of space taken up by files and folders can be considerable, especially if you have a lot of client or compliance documentation. Often entire rooms are taken up just storing boxes, something which could be done much more cheaply on the hard drive of a computer.

If possible, try to calculate the cost of renting out extra office space to house boxes. Often you’ll find that it runs into the hundreds of dollars each month, far more than you’d pay if you switched to a paperless solution.

 

Higher Productivity

Processing physical documents can take a significant amount of time. Workers have to print out documents, wait for the printer to finish and then ultimately file them away. Find documents can also be problematic, especially if your physical filing system is a little below par. Retrieving digital documents, however, is a breeze by contrast.

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