Can you answer the following question: How much does your organization spend on printing and paper handling costs per annum? If you can’t, then you could be missing a great opportunity to boost your bottom line.
Paper management and printing expenses are far more than just the price you pay for paper stock and toner. By the time you account for associated costs such as printer/copier maintenance, purchasing storage units, and labour (time spent filing, copying, printing, shredding, or re-keying documents) the total costs of a printed piece of paper can be as high as 31 times the purchase price of that paper. That doesn’t even account for the cost of square footage wasted on paper storage. You could be paying for 20, 30 or even 40 percent more space than your organization would need if it went paperless.
Going paperless can seem a daunting and expensive task, but it doesn’t have to be. I’ve yet to find an organization that didn’t recover the upfront cost of a paper management software by reducing (or in some cases completely eliminating!) their physical paper and paper management costs. The paperless document process will save your staff time, freeing them from the headaches of searching for documents and allowing them to focus their time getting done what they actually need to get done. When paperless document processes are integrated with CRM software, there can be a drastic impact on your top line revenue as well.
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This blog used secondary sources including this one.