November 6th marks “World Paper-Free Day.” As a bit of backgrounder, The Association for Information and Image Management (AIIM) conceptualized this special day so we can all actively join the AIIM community as we vow to reduce the amount of paper we generate in our everyday work and personal life. AIIM’s research proves that less paper in our processes delivers huge benefits in efficiency, collaboration, and well-being.
But this is just more than a commemorative day. Going paper-free means so much more for your business – and well, speaking of business, money does make the world go round.
Paper-Free means less money spent
Let’s start with some real-life scenarios:
- According to a survey by YouGov, the UK’s small and medium-sized enterprises waste more than £42.2 million per day in revenues looking for documents.1
- The 370-employee Suncoast Medical Clinic estimates that it will save about $1 million by using electronic health records (EHR), eliminating 80 percent of its paper-based medical records budget and most of its transcription services. 2
- Across the Fortune 1000, office document expenditures exceeded a staggering $217 billion in 2002—more than $7,500 per employee, according to a 2003 ALL Associates white paper.
- Resource Information Systems Inc. (RISI) estimates that U.S. companies will spend about $8 billion per year on managing paper. A 2005 study by the Minnesota Office of Environmental Assistance estimated that associated costs could be as much as 31 times the purchasing cost of paper, which includes not only actual price, but storage, copying, printing, postage, disposal, and recycling. 3
Since this idea about saving money by going paper-free is pretty much self-explanatory, let’s now go over some other benefits.
But wait, there’s more
Aside from the reduced costing, going paper-free has a lot more to offer.
Go green. The concept of “going green” has certainly taken hold over the last decade, even becoming a house-hold term for the elite and educated. By going paper-free, a business saves huge amounts of paper through electronic documentation. Folders and storage equipment might not be needed anymore. Energy savings are just as important and can be found by minimizing the use of print and copy machines. Supporting the green movement also helps your perception with potential clients. Hello CRM!
Improve operation. Paper-free business environment often means saving money. But if done correctly, going paperless can greatly speed up your business’ efficiency and improve its overall operability. Maintaining all your documents in a virtual storage makes searching a lot easier – which in turn makes other post-tasks (printing, filing, sending emails) faster.
(Greatly) Minimize risks. Although compliance requires the use of hard copies (read: vulnerable paper), the risks are always high when you solely rely on paper. We’ve heard many accounts of documents lost to natural calamities, fire, burglary, human errors – the list goes on. Having your files already backed up virtually will reduce what your overall loss might be.
Read more about the benefits of going paper-free here.
Paper-free starter pack
Clueless on how to start being paper-free? Here are some tips to get you started:
- Instead of paper-based time records, use an electronic program to maintain billable time records that is easier to monitor and manage.
- Use IMs (Viber, Skype, WhatsApp, etc.) to leave messages or communicate electronically with colleagues. Say goodbye to sticky notes!
- Going paper-free doesn’t necessarily mean that you’ll no longer need to have certain documents in paper form. Of course, compliance exists. But you can also maintain hard copies of only what is absolutely necessary.
- Scan all paper documents as a PDF. Save to your chosen virtual destination. A document management system allows you to save documents, link emails, and integrate calendars in one easy-to-use place.
- When doing sales pitch or handouts, give employees or clients electronic attachments instead of bound folders – imagine the cost you’ll save!
Good news is, Enadoc is here, ready to support your paper-free endeavors. Find more about the feature of Enadoc here.
Going paper-free doesn’t only mean you pay less money. Paperless also means less hassle, less carbon footprint, less risks.
Go paper-free — go with Enadoc today.