Scroll Top

Why Going Paperless is a Great Cost Reduction Strategy in your Business

On average, every Aussie worker uses approximately 10,000 sheets of standard A4 size paper, and about 50% of that is discarded. That is a large amount of waste that affects the environment. Also, it can affect a small business’ bottom line. The costs of basic office storage cabinets and equipment like scanners, printers, photocopiers, etc., are quite high, and excessive paperwork can also over-complicate the business’s operations.

If you are trying to reduce costs in your small business, you should consider going paperless. Not only will you end up saving a significant amount of money, but you will also be doing your bit for the environment. In many ways, this helps to create a better experience for your employees, customers, suppliers, and partners.

Aspects to Consider

Here is a look at why going paperless is a great cost reduction strategy for your business:

1. Australians Prefer To Connect Digitally

Australian customers have incredibly high mobile adoption rates, and we increasingly look to connect with brands and companies in real-time. This makes it crucial for you to provide your customers with an excellent mobile experience. The importance of this is also seen in the DTO (Digital Transformation Office) launched by the federal government.

The reason for this launch was to give government agencies ways to personalise and streamline their interactions with all citizens. This has a direct link to customer satisfaction and can also help to increase your customer base. While you are doing so, you even end up saving money on all the paper you save by choosing a more responsible alternative to communicate with your customers.

2. Improves Efficiency and Collaboration

Determine how much time your business wastes scanning, faxing, printing, and posting documents while transacting business. While it’s quite easy to use these manual processes all the time, it’s far better to switch to a digital medium. When you use a digital transaction management platform such as this one, you can create reusable templates that your employees can easily access via their PCs and desktops. It provides them greater flexibility while saving your business time and money.

3. Helps Maintain the Safety of Customer Data

Having all your customer data in the cloud is far safer than storing it on paper. Many digital platforms provide high-grade security with industry-leading audits and certifications. Also, you can get legally-traceable audit trails where you can see each completed transaction. You will be able to have full visibility of all actions taken, the signee information and where and when these were created, etc. You would also mean able to see if anyone has tampered with/altered the documents. These functions enhance the safety of your business’ documentation. When you compare the costs of using these virtual platforms against printing and filing as well as storing paperwork safely for extended periods of time, you will realise how much money you are saving by going paperless.

4. Save on Storage Space

Conventionally, businesses have used various types of filing cabinets to store their relevant documents. These cost money, and they also take up valuable space in your office. It’s also the least convenient way to search for archived documents. In comparison, when you choose to go paperless, you have a convenient way to access your documents and save money and time on filing and storage.

5. Environment-Friendly

Every credible business must be socially responsible as well, and reducing your carbon footprint is one of the ways you can do that. When you eradicate paper use and all the fossil energy that goes into faxing and printing, you help the environment. It also means you save trees, and that is a crucial thing to do.

These are some of the most notable benefits of going paperless, and that’s what many small and big businesses today are doing. You can make a start somewhere and then find digital alternatives for various processes that require paperwork.

For more information on how you can save money by going paperless,

For more information about effective cost reduction opportunities and efficiencies, contact the experts at Benchmark Cost Solutions at this number – 02 9525 0777. If you prefer, write to us at this email address, and we will revert quickly.

Thanks for reading, Benchmark Cost Solutions Team 02 9525 0777