Hardcopy records and work from actual paper is fading fast, and therefore, there has never been a better time to start switching everything to digital in areas where it makes sense for your business.
Companies that have made the switch to almost everything digital are seeing numerous advantages including faster workflow, integrated record systems, better business intelligence, and cost savings.
We have been doing this since we have started operation in the year 2000. All our invoices are sent to clients as a PDF attachment via email, and renewal reminders are also sent automatically. Online payment options have also been in place for a very long time and we try to limit the use of paper as much as possible. The key here is baby steps, and do not even think about changing things overnight.
In this post, we look at how by becoming paper free you too could see your business become more productive and efficient.
Paperless Improves Productivity and Reduces Costs
For a long time, it has been recognised that administration is very time consuming and an overhead to your business, and therefore, switching to paperless systems would allow you to save on costs that may be better used in other areas of the business.
Invoicing and online payments
By switching to a paperless system and using online invoicing you will not need to print out invoices and make manual checks on whether you have received a payment. Many systems can reconcile an online payment with a specific invoice, so all of this information is handled by a button push – or even automatically.
Furthermore, taking online payments allows you to get paid easier and faster. Suddenly PayPal, credit/debit cards, bank transfers, Revolut etc.. become viable options to get paid. You will also be able to make payments using these systems speeding up the procurement process.
There is also no need to print out invoices and other financial documents spending money on consumables such as ink and paper. Everything you need including running reports for business intelligence is recorded and easy to retrieve.
Good invoicing systems automate the handling of late payments through sending automated reminders. You have control over the wording and tone of the reminder and often a nudge and a prompt are all that is needed to get paid.
Paperless in today’s business world saves time on areas which traditionally have been time-consuming. If you can save time on these tasks you will increase your productivity.
No hard copies required
Unless you need a hardcopy document for auditing purposes, or specific regulatory needs in your industry, a daily offsite backup ensures that you do not have to print and store documentation. The backup ensures your records are safe and secure should you lose the original data.
Embrace the cloud and better task management
With the capability to access the cloud you no longer require paper documents to organise your teams even if they work offsite or remotely. Meetings and notes can be recorded on mobile devices. This not only means no paper is needed but these notes can be accessed if needed by other team members.
Although this arguably the hardest part of the paperless office, the benefits far outweigh any negatives and ensure your teams and workflow are fluid and efficient. This leads to e-signatures allowing contracts to be secured faster and again, increases productivity.
Increasingly AI automation is going to play a bigger part in how we work. They are used in complex industries such as the financial industry for compliance and analysis. The more of your business is online the easier it will be to tap into this resource which is only going to improve in the future.
Embrace the Advantages
Embrace the advantages of paperless business by talking to us today. We can discuss your business requirements and determine the best solutions to improve your workflow productivity and cut costs. Get in touch!.