8 reasons why having a paperless office is best business practice

Employers are continuously searching for innovative ways to transform office spaces into environments that encourage productivity, collaboration and growth. With offices workers across Australia crying out for companies to modernise their work processes by replacing paper with digital tools, transitioning to a paperless office is a worthwhile investment.

The average office worker uses 10,000 sheets of copy paper each year, with 45% of paper printed in offices ending up being trashed by the end of the day.

By working towards becoming a paperless office and converting paper files into electronic files via digitisation, will not only help reduce your environmental impact, but can boost efficiency within your workplace. Check out our top reasons for your office to go paperless below.

Australians want to connect digitally

According to recent research, 85% of consumers not only want, but expect to do business digitally. Why? Because they most likely find that paper-based transactions are slow, inconvenient and can be unreliable.

Businesses today need to be able to offer a quick, seamless experience for their consumers- whether they are interacting with your business on their mobile, their tablet or their PC. If your business isn’t delivering what your customers want, your brand and your business could suffer, resulting in less repeat business, less customer leads, and less referrals.

Stay ahead of your competitors

It is recorded that over half (55%) of consumers would rather pick businesses that offer digital transaction methods over those that don’t. Meaning, you may be losing more than half of your customer base if your business sticks to paper-based transactions.

By embracing a paperless approach – whether it be for a sales agreement, invoicing, event registration, work order, service contract or any other form that your customer requires – you alleviate the risk of losing them to the competition.

It saves time, which translates to money

How much time do your team members waste printing, scanning, faxing and posting documents? What about chasing documents that have come back perhaps missing a signature or a crucial piece of information which has caused an additional race around?

Using a digital management platform like Triumph ERP which offers you the ability to attach digital documents to a variety of transactions, your team’s time is freed up to focus on more meaningful tasks like customer engagement and business development.

It reduces your stationery bill

How much does your business spend on paper, printer ink, printer maintenance and postage each year? Not to mention files and filing cabinets! If you find that your business is regularly sending and receiving contracts, bills of sale or other paper-based transactions, then the costs very quickly add up. Digitally linking documents to transactions including Debtor Invoice, Purchase Order Invoice, Receipt Managed Stock and Bank Reconciliation– just to name a few!- will assist your business in going paperless and will eliminate most of these costs, putting more money back into the business.

Increase your space

Paper takes up a lot of room – as do filing cabinets and space to store those filing cabinets. Books and bookshelves are bulky, too. What’s worse, paper keeps piling up, oftentimes accumulating more quickly than it can be sorted and organized. This is particularly true of industries that have long mandatory retention periods for paperwork like the financial industry.

By digitising your files, you are able to store all your documents either on an on-premises server or in the cloud- both of which will most likely take up less room!

Customer data is safe

When choosing paper to power your business processes, you have to invest in locked filing cabinets and paper shredding policies to maintain document security and confidentiality. Even then, you’re left with potential data breaches and the ongoing need to train employees on your records management policies.

However, many cloud-based management systems like Triumph ERP cloud offer high-tech, bank-level data security in order to keep information away from those seeking unlawful access to critical data.

The cloud also provides a legally-enforceable audit trail that shows every action taken with the document, including who signed what, when and where. 

By going paperless, you may find it easier and more cost-effective to meet strict compliance regulations for your industry.

Adhere to Audit Guidelines

As a business, you most likely have to store several years of data for audit purposes. When switching over to electronic systems for document and content management, you’re able to easily and conveniently store as much data as you need while maintaining compliance with audit regulations and guidelines. Additionally, the digitization of your date will generate an audit trail automatically by simply scanning searchable text in order to make the process more efficient.

Promotes the Environment

Manufacturing paper products produce greenhouse gases, causing deforestation and global warming. Recycling can offset some of the environmental impact, but not by much. Most paper eventually ends up in a landfill. Further, ink and toners contain volatile compounds and non-renewable substances which are damaging to the environment. It is much more sustainable to simply reduce paper use altogether by switching to a paperless office.

It’s easy to fall into a comfort zone and conduct business as usual, especially if it’s been working out for years. Although it’s a convenient way of running your business, it also means that your operations may be stagnant, perhaps falling behind your competition.

Don’t overlook the benefits of a paperless office simply because you’re set in your ways as a business.

For more information about how Triumph ERP can help you with having a paperless office, check out our Paperless Picking module.

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