Top Business Challenges Solved by Going Paperless
Posted by Jen Bieker on January 8, 2015
No matter how big your company is or which industry you work in, you probably deal with challenges that prevent your team from achieving maximum efficiency. There’s a good chance that paper is at the root of some of those challenges.
Integrated document management solutions provide the opportunity to eliminate paper and work with your documents electronically from your desktop (or mobile device.) You’ll find these solutions will range in features and functionality, but for the most part the challenges they’re trying to address are pretty consistent.
Lack of Immediate Access to Information
Times have changed. More and more people are starting to expect all the information they need to be at their fingertips. If you’re lost, your smart phone can save you. If you’re in a debate, Google can resolve the argument immediately. There’s no reason you should have to walk to a file cabinet to search for a document you need. Instant access digitally means saving time, eliminating the risk of lost documents, and enhanced security. Plus, those employees working remotely can easily access documents on their own without calling corporate for assistance.
High Paper and Filing Costs
Using a paper filing system comes with a long list of recurring costs that will continue to build until your processes change. Try doing a sample calculation of how much is spent monthly on paper, ink, toner, postage and filing supplies. Add in the cost of office space or off-site storage fees to hold all that paper.
Then there’s the time cost of employee time spent copying, filing and searching for documents. Eliminating manual paper filing will often save your team members 30% or more of their time, which can be reallocated to more valuable tasks.
No Control over Approval Processes
When we walk through a company’s business processes, it’s not uncommon to find that management assumes a process is going one way and the rest of the team has their own idea of how things should be done. Maintaining document approval processes electronically allows you to put controls in place to ensure the proper steps are being followed. You can run sophisticated reports on activity to make sure nothing has gotten held up and everything is moving smoothly. Additionally, you can set alerts to notify you if a due date is approaching or if a document has been sitting in someone’s workflow queue past the specified amount of time.
Streamlining and gaining control over processes lets you make sure you’re avoiding late fees and taking advantage of early-pay discounts. You will always know where a document is in a digital environment, unlike the paper documents you set on an AP clerk’s desk last week.
To learn more about the benefits of going paperless, sign up for our upcoming doc-link webinar on February 12, 2015. CLICK HERE to register.