Going Paperless — Why Is This The Future?

The competitive landscape has changed

Technology has lowered the barriers to entry in the business world. The accessibility of cost-efficient business tools have empowered startup-business owners to enter and compete in any market, across industries. In essence, the improved access has leveled the proverbial playing field that once prohibited small businesses from competing with medium and larger-sized companies. What’s more, the movement toward achieving highly optimized, lean business models has changed the competitive landscape. A company’s ability to attain market leadership is no longer dictated by superior product development capabilities, marketing budgets, innovative resources, or even, the optimal customer experience. In today’s world, success is determined by a business’s ability to compete in all those areas — in as cost-efficient manner as possible. Reduce.org estimates paper-based systems can cost a business 31 times more than the actual “price tag” of the paper itself — in waste alone. The average office worker uses 10,000 sheets of copy each year. In other words, a $5 ream of paper costs your business more than $150 when factoring the “all in” costs it presents including printing, hard copy storage and disposal.

Real-time communication is the norm of today’s world

In 2012, Mashable estimated that more than 144 billion emails were sent each day — a number that has only escalated now that more than half of the world owns a smartphone. Such constant connectivity created by Internet, social media and mobile devices has shifted the norms of communication in personal life and business — along with the expectation for swift response. To be flexible, proactive and responsive in today’s business world, information must be instantly accessible, even to staff or vendors located across the globe. Only with a paperless environment can your business achieve this level of “real-time” information exchange.

Virtual business models are the key to recruitment and retention

Forbes estimates that about 30 to 45 percent of company staff now work from remote office environments. Not only is the work arrangement predicted to become increasingly common, it presents a unique set of benefits to businesses that follow suit. When insurance company Aetna transitioned to a model that allowed nearly half of its workforce to work from home, Intridea reports that it reportedly slashed $78 million in annual expenses related to real estate, utility costs — and the expenses associated with paper mail and document shredding.  When it compiled and analyzed the results of more than 500 studies addressing telecommuting policies and workplace satisfaction, Global Workplace Analytics found that two-thirds of employees want to work from home at least part of the time — and that 36 percent consider the benefit to be even more important than salary. Considering that companies who have moved to a telecommuting model report reducing attrition by nearly 50 percent, along with the fact that it costs an employer anywhere between $10,000 to $30,000 to lose a valuable employee, a remote office can provide a direct competitive advantage — but it only works if your business uses a paperless model.