Today we live in a digital age. Almost all forms of communication are done online or through the use of computers or mobile devices. This advancement in technology not only effects our personal lives, but also how we conduct business. Companies large and small have benefited from this shift in technology one way or another. Smaller companies particularly have gained the ability to compete with their larger competitors by making onboarding and communicating more efficient. This feat is accomplished by the use of an electronic document management system . An electronic document management system allows companies to share information internally and externally through the use of the Internet and cloud sharing.
One of the many advantages of using a document storage system is the amount of money it will save. It has been estimated that each individual office worker in the U.S. uses about 10,000 sheets of paper per year. According to the Paperless Project coalition, 85% of business documents are still in paper form, wasting a lot of paper every day. Printer and copier costs are typically the third-largest office expense behind rent and payroll. Companies will save more money by switching to an electronic document management system because they will not have to spend so much money on paper. The money that is being saved by not buying money can help to improve the office, give the employees bonuses, and other ways to improve the overall moral and performance of the company. An average employee?s printing expenses can cost companies between $600 and $1,300 per year. Not only is this a wise move financially, but it is also environmentally friendly. Less paper being used means that less trees will be cut down in order to make it. This will save thousands of trees and homes for wildlife creatures.
The four departments or aspects of a company that benefit most from document management systems include: Accounts Payable, Accounts Receivable, Contracts Management, and Human Resources. No longer do these departments have to deal with stacks of paper being piled to the ceiling and the daunting task of having to keep files organized in cabinets. Now, everything is kept in a simple location and can be easily accessible to them and anyone they may want to share the information with.
Interact reported that 19.8% of business time is wasted by employees searching for information in order to do their jobs effectively. Filing accounts for a great deal of office debt. In fact, on average, filing costs about $20 per document, and every misfiled document costs businesses $125 in lost productivity. An average of four weeks is lost each year waiting on misfiled, mislabeled, or untracked documents. According to the Gartner Group, 15% of all paper documents are misplaced and 7.5% are lost completely. According to StopWaste.org, 17% of everything printed is considered waste.
Saving money is different from cutting corners. When using an electronic document management system, you are updating your company and bringing it into the new age. Not only will you be saving money, but the environment as well. No longer will you have to worry about using a paper shredder to get rid of documents. Losing your important business files will now be a thing of the past. Join the system and step into the future.