Move Your Business Forward by Ditching Paper-Based Processes
Paper-based processes can be barriers to success. On a daily basis, they require team members to take many extra steps and slow down productivity. In the long-run, this sluggish pace can present challenges to meeting company growth goals. Meanwhile, businesses using digital processes have a competitive advantage and may sprint past those held back by a reliance on paper.
How can going paperless move your business forward?
When you integrate a digital solution into your processes, you can eliminate paper handling time and storage fees and speed up document location and retrieval.You will also see improvements to feedback workflow and approval control, and streamline accounting processes and staffing with minimized data entry and simplified auditing.
Here’s a breakdown of some of these benefits:
Eliminating Paper Handling and Storage
Make the move to go paperless, and almost feel silly when you realize how many hours your team members once spent filing, copying, and searching for documents, or carrying papers to team members’ desks. Digital processes allow time to be used much more effectively.
Document Storage Cost Savings
Many companies spend a lot of money to print, file and store paper documents either in their office or at an off-site facility. One such company that moved to an electronic filing system saved $85,000 in off-site storage fees.
Digital File Storage
Easy Document Location & Faster Retrieval
Paper documents are easily misplaced, buried or lost. Electronic documents can be instantly retrieved from your computer by way of a powerful search engine.
Improved Feedback Flow and Approval Control
In a paper world, documents waiting for approval may get stuck between stacks of mail on the desk of someone who usually works remotely or is tied up in meetings. Or they may be traveling in the postal system.
These days, even in our personal transactions, people expect to have the ability to track documents electronically. When this is not possible, they are not empowered to keep the approval processes moving and effectively manage deadlines.
Paperless solutions keep today’s employees at ease since they are more compatible with our reliance on digital communications. They also often come with sophisticated reporting capabilities and plenty of options for exchanging document feedback and approval from any location.
Streamlining Accounting Processes
Minimized Data Entry
Document management solutions that are integrated with an accounting system such as an ERP will leverage the keystrokes that are part of regular processes, and make it possible to re-purpose data to make those documents searchable.
An auditor visit can create a very stressful atmosphere—especially for employees in a paper-based environment. They may have to devote hours or days searching for required documents, digging in file cabinets and boxes—even doing so off-site. Not only does this take staff away from regular tasks and throw off the team’s workflow, but the threat of not finding a document needed to pass an audit adds pressure that can lead to mistakes. A paperless solution makes it easier to keep files organized and readily available.
Audit documents can be saved onto a flash drive for the auditor, or your company may provide him or her with a repository user license to access (only) the needed documents.
Growth Without Staffing Expenses
When a company reaches the pivotal moment where the workload has become unmanageable for the current staff, there are two common options: hire additional employees or streamline processes. The most economical choice is to simplify methods—and paperless is a great place to start.
This article was initially a companion piece to the free webinar, “Top 10 Reasons Companies Go Paperless,” held on March 24, 2015 and April 21, 2015. We discussed business growth, improving document security, and reclaiming time and space, using Sage ERP Document Management.
5/26/2017 note: Sage Integrated Document Management is now DocLink by Altec.