Paperless Document Management | Electronic Signatures

There are numerous initiatives enterprise executives strive for in today’s business world, not the least of these are going green and saving green. A strategy that not only helps an organization reduce its carbon footprint while putting money back in its pockets is a win-win. However, it isn’t easy to find a proposal that meets both of these benchmarks.

Enter the paperless movement. Offices across the globe are making it their mission to reduce the amount of physical paper utilized, turning to digital solutions to support critical corporate processes. But what are the advantages of going paperless, and why should your office consider taking on this challenge?

digital signature software

1) Save money

One of the first factors that typically drives a shift toward paperless is this strategy’s ability to save a business considerable money. There’s no shortage of statistics to support this:

  • A typical four-drawer file cabinet holding 15,000 to 20,000 pages of paper costs a business $25,000 in paper, ink and printing costs to fill, as well as $2,000 annually to maintain.
  • Filing a single physical document costs a company $20.
  • A misplaced or misfiled document results in $125 in lost time and productivity.
  • Businesses must hire an additional staff member for every 12 file cabinets in order to support their upkeep, organization and maintenance.

Overall, a paperless approach can result in savings in a number of areas, including printing as well as staffing costs. However, the dollars saved on paper alone are enough to convince many decision-makers: An office that forgoes using 10,000 sheets of paper a year can save more than $800.

“An office that forgoes using 10,000 sheets of paper a year can save more than $800.”

2) Go green

Another advantage of going paperless is the ability to reduce the office’s overall consumption and carbon footprint. Not only can going paperless enable a business to stop purchasing additional paper, but this approach can also provide a great opportunity to recycle all of those documents that are converted to digital files.

3) Improve access

Today’s business culture is more fast-paced than ever. If one organization isn’t up to the task of helping clients quickly and efficiently, you can bet that another business will be. This is a hard truth for many companies, but one that going paperless can help support.

Think of it this way: The time employees spend creating, organizing and filing paper documents is one thing. When it come time to locate and share those files, even more time and effort is expended on the part of weary employees. And this entire process could instead be taking place via clicks and keystrokes that take mere seconds.

Having digital files on hand isn’t just a luxury in the corporate world — it’s essential. Digital documents enable employees to more easily access, share and utilize assets, boosting collaboration and productivity across the board.

bank document management

“The ability to quickly locate and disseminate information may enhance your company’s efficiency and professional image,” Paychex stated. “Spending time hunting through piles of paper slows down response time in an age when most answers are only a few keystrokes away. By scanning electronic copies of receipts and invoices, documents can be sorted, filed and organized for quick retrieval when it matters most.”

4) It’s easier than you think!

While going paperless certainly takes some planning, it is a much easier strategy to adopt than many business leaders think. There are a range of paperless-friendly solutions on the market today, including document management and electronic signature platforms that make organizing and authorizing essential paperwork a cinch.

To find out more about how to support your office’s paperless initiative, contact DocuFirst today.