Tips, Tricks and Other Musings
It’s not a sexy subject…but how much money and time are your paper documents costing you? (You could be sitting on a gold mine of savings and opportunities!)When we started Formaliti our first customer said that he would pay $10,000 to the person who could solve his paperwork nightmare. He had tried to go paperless for some time but just couldn’t get it to happen. Now the technology is here but it seems like business owners and managers still need convincing to take the reigns. The fact is that the costs associated with managing, finding and retrieving documents may seem invisible, but managing paper files is a very real cost to business. It’s time we embraced paperless technology and take our organisations to the next level. Not only will you save the high costs of paper storage and management, but you can easily streamline everyday business processes. Here are just some of the examples of how paperwork is bleeding your business dry. Lost Documents According to PricewaterhouseCoopers, finding a lost document will cost a company $122 on average. It’s estimated that 1 in every 20 company documents are lost completely. Assuming your company works with 10,000 documents a year that would mean 500 are doomed. At $122 per document that’s a cost of $61,000. Plus, if you have to recreate those lost documents, the time and supplies involved would make that number jump a whole lot higher. Customer Document Retrieval If you have a paper based system and a customer calls in with questions about a specific document, the person taking the enquiry might have to hang up, walk to the storage area, search for that document, walk back to their desk and return the call. If they need a... read more
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