November 3, 2021

Why Paperless is Good for Your Business

A business is built on documents, and even before you launch your company, you realise how many documents you need. Whether it is business plans or bank statements, from employment contracts to payroll records, your company is largely reliant on documents. The more documents you have, the more space they consume, and it takes you a long time to identify the one you need when you want to check some terms or conditions.

Just imagine what it would be like to work in an office without any paper. Imagine an office without paper documents to be signed and passed around. You won't have to sort paper documents through and keep up with updates. Your limited office space doesn't need to be filled with paper documents. Organize your files without filing cabinets! Doesn't it sound too good to be true?

Here are the reasons why paperless is important for your business:

1. Cost-effective

The paperless office seems to be a viable solution to companies looking for ways to cut costs while still making significant profits. A paper-based document is an increasingly expensive overhead. Additionally, its deficiencies include loss, theft, and misplacing things.

If there is no paper, no money can be spent on buying paper, printer toner, printing, or hiring filing staff. Neither document storage space nor file cabinets will be rented or purchased.

2. Enhanced security

Furthermore, the manual documentation system is at risk for a multitude of security breaches. Shredders and locks don't guarantee security even for sensitive documents. A file cabinet is easy to break into and documents can be stolen. It is possible for sensitive documents to be lost in the event of a fire or natural catastrophe. Human error can sometimes lead to files being lost and never found again, and this can mean a great deal of harm to the business.

A good thing about electronic records management systems is that they save documents in encrypted servers that are able to track who accessed files at what time and what changes were made. A digital document can also only be accessed by authorized personnel.

Cloud computing makes this possible. The cloud-based platforms can be used to store sensitive documents with ease of access and tight security. In addition, multiple backups can be accomplished.

3. Enabling mobile workers

The use of smart solutions has also become more and more important in the 21st century. You can control your smart home from anywhere using your smartphone. In the same way, with the right mobile apps, all of your office work is at your fingertips.

With the recent Covid Pandemics pushing more people to work from home there is a need for these technology solutions, you can access your data from anywhere in the world with the paperless office. Thus, your business process will never be interrupted, and your employees will enjoy the convenience of working remotely. Having a happy employee leads to increased productivity.

4. Improve Business Process

Employees are able to review, delegate, authorise and transfer information with the right digital document management system in no time. A faster purchasing process, expense reports, approvals for loans, and contracts can benefit from this.

In the real estate industry, for example, there are numerous regulations that restrict it. Managing time efficiently is vital. It is important for real estate agents to learn how to utilise office automation. By automating documents, they can be signed digitally and sent to the authorities in real-time, reducing costs and time.

Additionally, employees can work simultaneously on shared documents to collaborate on projects. They can get prompt feedback as well as boost their creativity. As a result, your employees can invest their time in other aspects of your business, adding value.

5. Customer Satisfaction

Customers are the heart of your business. Their satisfaction must always be a priority. Today, customers are more likely to use self-service than to place calls and wait on hold. The digital transformation of business is a necessity.

One click access to documents means employees need not wait while manually searching for information. Quick customer and client response ensures customer satisfaction. The result is that clients and customers will be satisfied with the response.

Through email, chat, and social media, you can identify the needs and wants of your customers with the right content management software and customer relationship management application. It is easier to customize your business so it meets the needs of your clients and customers.

6. Faster Payments

Your business might need to issue invoices periodically to clients if it extends credit to them. By using electronic invoices, you will be able to save money that would otherwise be spent on office paper, envelopes, and postage.

The second benefit is a faster payment process when you use an email invoice. You can accelerate how fast customers make payments by sending them invoices immediately after clicking the send button. You can also follow up on unpaid invoices, when appropriate, since most document management software can generate and track invoices.

7. Environmentally Friendly

In addition to the major benefits of paperless businesses, there are many periphery benefits. Using paperless technology reduces ink cartridge waste, energy used by printers and other paper-based machines. It also eliminates the need to shred or destroy documents. Imagine how much energy it would take to overnight a single document across a country, or around the globe to be signed! Eliminating paper waste makes a huge difference to the environment.

Final Word

There are many benefits to going paperless for you, your employees, your customers, and the business and its surroundings at large. Apart from allowing you to work from anywhere, there are other advantages as well. Automating document management processes eliminates the hassles related to manual processes, which can be slow, cumbersome, and costly.

We are in the midst of a paperless office revolution that cannot be pushed back. Our approach to solutions enables you to make a smooth transition from paper to a paperless office while gaining a competitive advantage. Let us know how we can help.