Going Paperless: Top 8 Benefits of a Paperless System

Financial Reporting Service in Tulsa

Have you been looking for a way to save money, increase productivity, AND help make your office more eco-friendly? Although this might sound like the introduction to a tacky infomercial, there is a way to do all the above with minimal cost and effort: going paperless.

The financial savings are not the only reason to consider going paperless. In this post, we will share many of the other benefits of a paperless system.

Top Eight Benefits of a Paperless System

The average employee uses a mind-blowing 10,000 sheets of copy paper every year. That’s $100 per employee just on paper! While this may not seem like much, the cost begins to add up if you have a larger company.

However, financial savings are just one of the many benefits of going paperless. The following are some of the other ways we have seen a paperless system benefit our clients.

1. Accessibility

Did you know that billions of dollars are lost each year due to time spent looking for paper documents? That’s a lot of wasted time!

With a paperless system in place, documents are readily available within seconds. By storing these documents on a common database, they are easily accessible to multiple employees or even multiple locations if necessary.

2. Comply With Regulations

HIPAA and SOX require now require strict documented measures for maintaining data confidentiality and integrity. Paper-based systems are much more difficult, and expensive, to track and manage.

A paperless system provides a nice, clean audit trail for your documents. You can easily assign a number to each document, making them easy to track. With a paperless system, you can also assign levels of confidentiality to documents to prevent unauthorized access.

3.  Simplicity

With a digital document management system, you can handle various tasks with just a click of a button. Tasks such as sending documents, ordering goods, and authorizing invoices become much simpler and more efficient with a paperless system.

4. Security

In a paperless system, you are provided with the option to apply varying levels of security to your servers and individual files. This allows you to create password-protected accounts that restrict access to servers, directories, or even specific files, ensuring that this information is only seen by the individuals that should have access to it. A system like this can prevent countless security breaches.

5. Easy & Inexpensive Storage

As an office manager or business owner, you are well aware of the expenses involved in maintaining and office. Clunky file cabinets are not only expensive but they also require valuable office space!

Did you know that you can fit the equivalent of 70 file cabinets into a 150GB external hard drive? A hard drive of this size can fit comfortably on your desk; saving you both money and space.

6. Going Green

With the endless research to back up global warming, the world as a whole has begun to see the value of going green. Although you may think that your company may not make a difference, your impact will accumulate with the efforts of other companies across the globe.

Switching to a paperless system will cut down on deforestation and pollution, leaving more trees to absorb carbon dioxide, slowing down global climate change.

7. Peace of Mind

More than 70% of today’s businesses would fail within three weeks in the event that they had a catastrophic loss of paper-based records. This fact should be quite disturbing!

With a paperless system in place, important information is stored on an online server that is safe from the threat of flood or fire. This also saves you from the worry of misplacing or losing documents, a common office mishap that wastes valuable time.

8. Improved Customer Service

A paperless system allows for efficiency and autonomy for your clients, something that is very important! You can easily and safely provide and receive the documents that you need in a shorter span of time.

With a paperless system, you can even provide your customers with important electronic files that they can access at any time. Providing this electronic access to important data not only gives your customers more accurate information but it also creates an improved customer experience.

We hope that this information has provided you with valuable information on many benefits of creating a paperless environment. This system will provide you, your employees, and your clients with an optimal experience.

Do you have further questions about how a paperless system can benefit your workplace? Contact our team today for more information!

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