Going paperless saves your company time and money in the long run. While making that transition might be an involved process that takes time and careful planning, it has big payoffs. There are many ways in which going paperless saves you time and money in the long run.

Office Information Sharing

One key way to save money by going paperless is through the reduction and/or elimination of hard copy, interoffice file sharing. No longer is it necessary to put a contract in an envelope and pass it around the office, hoping it gets circulated by the end of the day. Instead, you can know within minutes that all of your employees have received and read circulated information. Simply send a quick email with secure attachments and a read receipt. With ways to brainstorm and have meetings virtually, the more daring can cut down or even get rid of office costs. Going paperless makes teleworking more feasible, allowing your employees to work from home. This directly saves your company money and also saves your employees money on gas and commuting costs.

Mailing Costs

One of the obvious ways going paperless can save money is through mailing costs. It may seem small, but those costs can add up. Paperless payroll, sending heavy contracts electronically and even important HR paperwork will add up over time in savings. Not to mention the ability to resend quickly if an employee or customer does not receive something the first time. Happy customers result in loyalty and more profit.

Time Efficiency

Going paperless will also save you money through time efficiency. Paperwork and data can be managed digitally with a good document management system and a few clicks of the mouse. Although less obvious than other money saving strategies, time efficiency means your employees are saving time on tasks that don’t add directly to the bottom line. They are freed up to spend more of their workday improving other systems or concentrating on other tasks.

Quicker On-boarding of New Employees

With a paperless system for delivering forms to new employees, you can on-board new team members quicker. This saves you money by reducing the need of temps and cutting down on overtime for work that gets backed up during job vacancies. Company manuals, training presentations and contracts can all be sent in advance. Your employees can come in the first day ready to learn and begin doing their actual job rather than spending tedious amounts of time filling out paperwork.

Management Costs

With less office paper, you are not having to spend as much money managing that paper in your office. That could take the form of lower copying costs, shredding costs and storage costs. Not only that, but you will no longer need to tie up employees with heavy paper filing any longer. Going paperless means that you can streamline your processes and focus your employees on tasks that directly add to the bottom line rather than doing menial tasks like filing. This should energize your staff as no one gets overly excited about having to be the one who keeps up with paper files.

When you analyze and put into action going paperless for your office, you save money in different ways. Both ways that you planned to save and in surprising ways. Being able to digitize information and how you send it, will allow you to spend more time and efforts on the core focus on your company. Perhaps you have already gone paperless in many arenas of your office, but there are likely many more ways you can cut down on the need for ongoing paper management.