Nine Ways Going Paperless Can Change Your Business

Article written by EricBank

Going paperless is more than just an environmental concern for small businesses. There is no doubt that reducing paper usage is a valuable step in improving Earth's ecology, However, going paperless saves money in many ways that really can improve a business' profits. 

Here are nine benefits your small business can realize by cutting paper use:

1.      Security

Much of what's written down on the job is of lasting value, and businesses that maintain their vital records on paper are subject to prying eyes. Electronic files can be password protected and encrypted, making them more difficult to steal or to be accessed improperly.

2.      Supply Costs

Going paperless may require some initial expenses for hardware, software and training. Your payback comes from savings on paper, paper clips, staples, shredders, reinforcements, pencils, pens, hole punches, erasers, clipboards, Scotch tape, thumb tacks, white-out, highlighters, binders, and other office supplies.

3.      Printing Costs

Imagine a world without ink cartridges or printer maintenance. Wow!

4.      Missing Documents

Paper records can be misfiled, lost or damaged. The results can range from minor to catastrophic. It won't happen if you maintain a digital document system and make cloud-based backups.

5.      Photocopier Costs

A photocopier is usually costly to lease/buy and maintain, and it will use reams of paper and toner. Paper jams are costly, wasteful and frustrating. Electronic documents are sharable and make copiers obsolete.

6.      Labor Costs

Paper usage generates additional expenses. You must:

·        order

·        track

·        receive

·        store

·        monitor

·        distribute

·        file

·        retrieve

·        re-file

·        shred

·        dispose

Imagine the savings if you didn't have to perform these chores.

7.      Storage Costs

Large businesses waste millions to store paper. Expense arise from the dedicated storage space that might be repurposed, or if its rented space, abandoned. Then there are the operational costs for storage and warehousing. Warehouses awash in paper can burn down, which will surely increase your insurance premiums.

8.      Disaster Recovery

While on the topic of fires, think of the consequences when disasters occur -- fires, tornados, earthquakes, floods, terrorist attacks, etc. If you don't use paper, copies of all your vital records reside in the cloud, secure and safe. You might temporarily move to another location but all your electronic records will be available immediately.

9.      Customer Service

For an angry vendor or customer on the telephone, nothing is as bad as is a beleaguered worker attempting to track down the caller's paper-based records. Harsh words and ill feelings may ensue. You can avoid all that by having records in electronic, searchable storage. Numerous companies identify incoming telephone phone numbers and automatically bring up the relevant records even before a worker gets on the phone.

We're certain you can imagine more benefits you would realize by getting rid of paper, but you probably don't need much more convincing. You might even consider becoming a green-certified office. The ensuing positive publicity you will receive by going green is another important benefit that can be worth a lot of money.