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10 Ways Technology is Helping Businesses | Save Money by Going Paperless

Thousands of companies have recognized the potential to save money by going paperless.  Today’s modern technology offers a new world of possibilities regarding companies’ business operations. One of those possibilities to save money is to go digital, abandon the paper clutters and thus, cut costs.

There are numerous benefits to changing companies’ practices and going paperless. This article will focus on the money-saving aspect of leaving digital, rather than carbon footprint.

Although going paperless might require a small initial investment, it will soon pay off.

With so many opportunities at our fingertips, it is only logical that we try to intelligently use all the tools at our disposal to save money on printing, on office storage space, on distribution and mailing and, of course, to save money by making time.

Update the Outdated Office

Yes, there are still people who print documents as if there’s no tomorrow and it doesn’t come cheap.

Let’s start with the costs related to printing. It’s not just the paper; it is also the ink and the purchasing and servicing of the printers.

There are many reasons to print out documents in a company. Some of the documents are connected to clients (for instance, invoices) and when they eventually leave the office, the company makes money.

However, most of the documents are for internal use and pertain to the employees. In fact, most of them are records, such as contracts of employment, appraisals, training records etc.

Today, we have new tools at our disposal, like an HR software which can make this job rather effortless. Tools like people hr software even offers unlimited document storage at no extra charge, and you can even use their software on your smartphone (by using their peoplehr app, that is, the mobile version of their HR software). You can do much more with your HR data without the struggle of paper files or spreadsheets.

Going paperless also means a lot more usable office space, which leads us to the second reason why it is а smart thing to do.

Let the Office Breathe: Save Money on Office Storage Space

A lot of paper, by default, means a lot of office storage space. So, what would happen if you didn’t have tons and tons of paper materials? The truth is ‑ many things will happen. The most important thing is that ‑ you will certainly save/make more money:

  • More office space means that there would be room to hire more people, who, in turn, will make more money for the company;
  • Without the need of so much office storage space, you could even move to smaller premises, that is, you will definitely save money on the lease, the heating and the cooling of the space.

Going paperless does not mean that you would throw away every single piece of paper just like that. Digitizing the records will take some time, but it will be worthwhile.

By using the HR software, you could easily keep track of employees’ requests and absences and edit employee records, without having to waste additional paper.

Save Money on Distribution by Cutting Mailing Costs

The costs connected to paper in the office are not limited to printing and the storage used, but also to distribution. The obvious reason for going paperless is the amount of money spent on mailing paper documents, invoices etc.

Other important reasons are the following:

  • When paper is manually handled, there is a greater chance for human error;
  • Misplacing or misfiling documents and records wastes time and money;
  • Mailing takes time and often mistakes occur, which, in turn, triggers additional time and money wasted in reprinting, redistributing and mailing.
  • Save Money on Processing and Handling Documents

In this digital era, you can easily resend any document in a matter of seconds. Running a business means that you have to use invoices. By sending them via regular mail, it takes much more time for clients to receive them, consequently, the payments are delayed. Also, at times invoices get lost in the mail, so the whole process becomes rather inefficient.

The best way to turn the page is to start using electronic invoices, which translates into less money wasted on office supplies and postage. This way the companies make sure that there are no delays and no invoices are lost.

Apart from invoices, office documentation may include retrieving customers’ bank statements by using digital tools, such as https://bankstatements.com.au/.  This is a quick solution for boosting conversion rates for lenders and brokers. Customers’ bank statement data can be stored at exidox.com, directly from the banks.

Use Ezidox

One of the best way to handle documentation efficiently and neatly is ezidox.com. It’s so ezi, really!

Your business can become cost-effective by understanding how to properly handle documents in different formats, how to process them, archive them and do all of that quite efficiently.

No More Messy Agreements!

Regardless of its type and scale, every company has devised a system for agreements. The system consists of all the elements that go into the preparation of the agreement, such as the composition, the signing and the enactment.

Many messy and needless processes surround the agreements, so even the smallest technological advancement can make a big difference.

Since the signature is the key ingredient of every agreement, a much useful tool would be https://www.docusign.com.au/. Reliable and easy to use, DocuSign is famous in the area of electronic signatures.

No More Chaos with Google Drive & Dropbox

If you think that your office storage room is one of the safest places to keep your company’s files, here’s news for you: it isn’t. Therefore, meet Google Drive.

Safe and easily accessible via phone, tablet or computer, Google Drive is one of the best solutions to get rid of the office clutter.

You can keep different types of materials, such as: documents, videos, recordings etc.

In addition, if you dislike chaos in your work environment, Dropbox is the way to go. All the files which are stored in Dropbox are synced across devices and it also offers an opportunity for many people to collaborate together.

Implement Payroll Software

Topping the list of the best accounting software for small businesses is QuickBooks.

It offers easy and immediate access to information pertaining to the customers, suppliers and employees and at the same time encourages paperless work environments. It helps you to eliminate the use of paper bookkeeping ledgers.

Other softwares worth mentioning are: BambooHR, AccountEdge and TimeCamp.

Save on Time

Last, but not least: If time is money, then saving time saves money. One way to improve your customer service is to focus on greater efficiency in less time.

By entering in the digital world, all the processes in the work environment are speeded and the time required for completing the tasks is reduced.

By saving time during the office hours, you have the chance to focus on what is truly important to boost your business.

More time means greater focus on strategies for business development, marketing, improved management and intelligent use of HR.

Thus, the business will grow faster and generate higher revenue.

Remember, if you want your company to have a bright future, you have to implement the technologies of today.

Originally posted 2018-09-19 21:30:53. Republished by Blog Post Promoter

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  1. Human race now cannot think of life without technology

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