Paper: the costs, savings and opportunities for going digital
You know paperwork is one of the least favourite parts of everyone’s job. But, why does it have such a notorious reputation? The major reasons include:
Inefficiencies in printing, signing, scanning, and sending
Incorrectly completed paperwork
Chasing up paperwork
Transcribing into digital systems
Cost of postage when original signatures are required
I know paper cuts may be painful (we’ve all been there). But, the real disaster is how much time you spend managing your paperwork. That’s because when you’re chasing paperwork issues, you’re not fully focused on running your business. And that means you are losing time and money.
So imagine you have three field workers. Each one on $45 an hour, and one admin staff, earning $30 an hour. Now, assuming they each spend 4.5 hours a day filling out, delivering, chasing or clarifying and transcribing paper forms into electronic data. With $100 worth of monthly printing costs, that amounts to a yearly cost of $77,250.