Productivity increases when more people work together more efficiently – it isn’t rocket science. A recent article states that collaboration among employees is strengthened when you “create an environment where team members can easily share knowledge and ideas. This will not only improve individual productivity [but also] project standards and service delivery.”
A major key to creating a successful environment which encourages collaboration entails reducing stress. In fact, a recent Forbes article reports that the World Health Organization estimates that stress costs U.S. businesses approximately $300,000,000,000 as a whole, annually.
Physical paperwork can be very stressful – they’re hard to find, hard to organize, harder to find the paragraph or document you need. These impediments of physical documents can increase stress and make collaboration between employees more difficult. Convert your paperwork to digital files so that you employees can easily send each other the pertinent files in a few nanoseconds via email, or have them all access the same file simultaneously via the cloud. By going paperless, your employees will have an easier time collaborating with clients, each other, and will lower their stress levels significantly.
U.S. businesses use a lot of paper every year, consuming about more than 5.2 million tons per year; and all of that paper has to go somewhere – in file cabinets, through the mail, to billing firms or out to clients. Therefore, it comes as no surprise that managing paper is a costly process for a lot of companies, as organizations with 10 locations accumulate more than $10,000 per year on shipping costs alone.
From manual labor to fees for lost files, managing paper documents is typically both time-consuming and expensive. Companies spend an average of $20 in labor to file every document away, and 80 percent of those papers are never looked at again.
Despite the technology that exists today, file cabinets and document storage account for more than half of office space in the United States. An average employee uses approximately 10,000 pieces of paper every year, more than 1,400 of which aren’t even needed. For companies, this leads to an additional $80 in expenditures per individual, money that for both large and small companies could be better spent elsewhere.
Businesses are also building up massive fees due to lost documents. On average, organizations misplace one out of every 20 paper documents. This leads to an extra $20 in labor costs searching for each lost document and 25 hours spent recreating the lost file. Over the course of a year, every worker spends a total of six days simply looking for misplaced documents.
So how exactly can document management help? For one thing, it can save an enormous amount of time. Through the electronic workflow, employees can quickly find documents, and they won’t ever have to recreate lost files again. In addition, these systems cut down on office space needed for storage while boosting security.
All of these factors can combine to produce massive cost savings for businesses, making document management a no-brainer. To go paperless, fill out our form or give us a call at (716) 852-2203 or toll-free at (800) 859-2203 for a free no-obligation quote.
Is your Office paperless? How does your Company manage files and documents? We love hearing about the different ways company's manage their important documents.