Recent studies have shown that companies spend approximately 10% of their income on producing, managing and distributing documents and it is estimated that 25% of documents in paper form are poorly identified, misclassified or lost, reducing the control and traceability of business’s vital information.
Often businesses, especially small to medium size businesses, are unaware of this fact and how serious of an issue it is. Think about what else could businesses be spending their time on if they were not constantly looking for and classifying documents. Free time could be spent on business development and business growth; improving sales, reaching new customers and improving products and services.
Here are our seven best reasons to aim for a paperless office in 2018;
Never make a miscalculation: Moving your admin, particularly your financial admin, into the cloud or onto a document management system will make making mistakes and miscalculations far less likely. With an accountancy automation software like Smarty Accounting costs will be automatically added up, profit and expenses will be gaged, and VAT and other forms of tax will be automatically worked out and added onto bills and invoices. This means mistakes will never happen again, making your business look more professional and on the ball.
Easy storage and space saving: Renting an office space is one of your largest expenses as a business and the last thing you need is to be filling it up with paperwork and eventually requiring an even bigger office. Keep the amount of space you use low by digitalising all documents and removing excess paperwork from your office. What’s more some business may not even need offices in the modern age with such a range of portable business technologies and software’s available, but this doesn’t mean business services can’t still be of the highest standards. With business automation software’s and applications, freelance contractors can deliver business services that are as professional as those of accountants in big shiny offices.
Never lose an expense: Running a business is all about spinning plates and it becomes difficult to keep track of all the money coming in and going out. With accountancy software’s it becomes very easy to keep track of what your spending. Many applications allow you to simply snap a picture of receipts while you’re out and about and they will be automatically added to your financial reports. What’s more bank connections within these software’s means that every bank transaction can be recorded and categorised, so you never need to guess where your money has gone.
Save time and money: All of this has two crucial effects on your business expenses. No need to employ administration staff, and no need to spend your own time on mundane admin tasks. Kill two birds with one stone and free up time and money by digitalising all your documents and removing paperwork from your business practise.
Get a better response from clients: Clients will always respond best to your business if they feel your company is accurate, switched on and polite. Business automation software’s like Smarty Accounting make all this possible with just a few clicks, something that wouldn’t be impossible if you were dealing with paperwork. For example, when issuing an invoice, the client will receive a bespoke digital document, a polite prompt if the invoice remains unpaid, and even an automated thank you message at the end of the transaction. There is no way SME’s would have the time to display this level of professionality if they were working with paper.
Access information on the go: These days people are always on the move and so are their businesses. Very few business owners spend all day every day in the office, so paper systems which require someone to be constantly based inside are either unrealistic or costly if this means an extra member of staff. Many businesses now employ business automation software’s which allow you to conduct great business anywhere anytime.
Be eco-friendly: Last but certainly not least, paper run offices are terribly destructive for our planet. Support the environment and encourage other businesses to do the same by not printing any documents you don’t need to print and moving your documents to the cloud. Go one step further and encourage other businesses to reduce their paper usage by always including a ‘think before you print’ watermark on your emails.