The business world is very competitive and companies often need to turn around disadvantages and overcome them in order to stay ahead of the curve. We started this business because we knew that technology promised many benefits. One above the rest was in response to a challenge for growing companies: paperwork.
Going paperless can help you reduce an ample variety of costs that aren’t usually considered budget-wise. Here are some of the main costs of working with paper:
“Local companies spend $120 billion a year on printed forms, most of which outdate themselves within three months’ time.” – US Environmental Protection Agency
Managing paper requires not just paper and ink, but printers, photocopiers, storage, and mailing costs that all add up to create a dent in your company’s yearly budget.
“Employees spend between 30-40% of their time looking for documents.” – US Environmental Protection Agency
Imagine how many more sales your team could close if they just had more time. In addition to the time your sales agents spend writing reports, you also have to consider how long they spend searching, filing, and distributing physical files. Believe us when we say that it adds up.
“More than 70% of today’s businesses would fail within three weeks if they suffered a catastrophic loss of paper-based records due to fire or flood.” – US Environmental Protection Agency
According to FEMA, during 2015 there were up to 79 disaster declarations last year alone in the US. These disasters included severe storms, wildfires, mudslides, typhoons, and solar flares which can occur at any given moment and can cause physical damage to entire areas.
“Pulp and paper is the third largest industrial polluter to air, water and land in both Canada and the United States, and releases well over 100 million kg of toxic pollution each year.” – US Environmental Protection Agency
Last but not least, there’s a series of repercussions to the environment which any responsible company must take into consideration. We need to consider our carbon impact not just as business owners, but as human beings. Adding a green stamp to your efforts can only help your company’s image.
Take a look to our webinar about Top 6 Questions about Managing Your Inventory in QuickBooks.