There are a variety of ways that converting to paperless business practices save money for organizations, from reduced spending on supplies to improved employee efficiency and production when it comes time to locate a document.
Because companies can significantly scale back printing, the cost of toner cartridges becomes more manageable as they’re used up more slowly than in a print-intensive environment. Additionally, wear and tear on printers and other associated machines is reduced and useable life is extended. And while these big ticket items are purchased and used less frequently, the lower cost items – like reams of paper, file folders and binders – are also bought less often.
Consider all of the cost savings
By switching to a digital document management strategy, there are savings to be found across a business. While printing costs were addressed above, another consideration is postage. Businesses accustomed to mailing completed forms, statements and other records to vendors, business partners and clients may simply consider stamps, envelopes and other supplies to be part of the cost of doing business.
However, with a few simple procedural changes, many businesses can nearly eliminate the costs associated with using physical mail. By gathering appropriate contact information like email addresses, electronic notifications, bills, receipts and other items can easily be sent to recipients. Using this setup, companies don’t have to pay for any of the costs related to mailing, be it stamps or the time spent by employees either manually filling envelopes or managing an automated process.
The reverse of this principle is also true – businesses should seek out paperless billing and receipts whenever possible. Credit.com points out that some banks, credit unions and other organizations now charge for sending out paper statements. Not only do electronic receipts make it easier to quickly store the files in a digital system, it also saves businesses money.
Bring down overall printing numbers
Although it’s unlikely that some businesses may totally eliminate printing, it’s easy to significantly reduce the amount of paper and ink used – if companies can encourage a cultural shift among employees. CIO.com recommends generating a printer use report – if this functionality is already present on a network – and sharing it with all staff members. This can turn the quest to use less paper into a healthy competition and allow employees to find alternate avenues to making hard copies.