Paper has become an inevitable part of almost every business. From invoices to memos, orders to applications, each business will have at least one, if not more, paper based process.
Whilst these processes may appear to be a streamlined and efficient way of working, after all, you have probably been working this way since you can remember, what about when you look closer at each process? How efficient are they really?
While a completely paperless working environment may not be possible, a paper-lite approach can be a more realistic solution which can bring a number of benefits to your business. By continuing to use paper-based processes and making excuses for why using less paper won’t work, businesses can face disastrous consequences.
1. ‘Chasing invoices is what I do best, it means I can talk to lots of people. Why should we change?’
So many finance teams are still spending the majority of their time on manual Invoice processing, which is both extraordinary and expensive. By reducing manual intervention, the invoice approval process can be dramatically reduced.
2. You are unfazed by the risk of your business burning down due to a paper fire because the insurance money will cover it.
Storing valuable paper documents on site (or even off-site) can be a risky decision. With severe flooding in Britain on the increase and the wettest January since 1766, there is a high chance of more bad weather in the future. So how is your business protecting all of its paper documents? Would your business be able to function if these documents were damaged?
3. Trips to the filing cabinets to sort through years of documents are something you look forward to every day.
4. Preparing & organising paperwork each time you have an audit…you enjoy a challenge!
5. You say, “At least we get it right 90% of the time,” when you hear that 10% of forms are typically lost or misfiled.
An average office has around 20,000 pages of paper kept on site. Most are wasted pages taking up space. It is estimated that the average worker spends 45 minutes a day looking for lost paperwork, time that could be spent with your customers.
6. All of your most important tasks are flagged in your email inbox, you’ll get round to organising them one day.
Do you then find yourself saying “I know the email is in here somewhere, just hold on”? Ten minutes later, no email and all you have for your trouble is a frustrated customer or colleague. How organised is your email inbox really?