Savings in all forms is extremely desirable by all businesses operating across the globe today. These could be money savings, time savings or savings of resources. To achieve this, companies have been experimenting with various new technologies which enable them to streamline their operations to a great extent and therefore allow them exist profitably in this growing competitive environment. The use of document management systems, which efficiently store and record all important company data and information in a unified repository connected to the cloud, has brought about a major shift in the way organizations across the globe used to operate. By automating all the company’s paper-based workflows, it eliminates the need for cumbersome, manual paper-driven documentation. The data gets securely stored in the system, and the staff gains anytime access to the same. This in turn, empowers organizations to save a lot of costs, time and also leads to a sharp trigger in employee productivity.
MSB Docs, a leading, smart document solutions provider, follows three simple mottos which promote great organizational savings by electronic way of documentation. The company’s ambitious mottos are – ‘Save paper, save time, and save resources’.
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Paperwork constitutes the biggest overhead expenditure in any organization. Apart from the cost of paper itself, the costs associated with printing, filing, storage, etc are even more taxing. Studies have highlighted that associated paper costs such as these, amount to roughly 30 times the actual paper purchasing cost.
Also, as per another report, an average office worker in the US uses 10,000 sheets of paper each year, with this consumption projected to grow annually by 22%, doubling itself in almost 3.3 years.
Added to this, 45% of the paper printed in offices actually ends up as trash. Looking at this data, it is important for businesses to take a step forward and work towards going paper-free.
We also have to be considerate about the environmental impact of the use of paper. A large number of trees are actually cut down from their roots to produce paper. According to the Resource Conservation Alliance, 40% of the world’s trees harvested are solely used for this purpose. Also, the various harmful gases which are emitted during the paper manufacturing process damages the environment even more.
These observations drive our levels of awareness are prompt us to take the necessary corrective steps. Curbing paper usage is essential, and with the help of digital documentation, this can totally be achieved. With paper files getting converted into electronic files, the use of physical paper automatically gets controlled, as a result of which the recurring costs of paper are saved and the well-being of the environment is ensured.
Today’s customer and the business environment in general demands a lot of speed – speedy processes, speedy delivery of goods and services, speedier results and speedier satisfaction. Untimely delivery of any of these could result in loss of business for the company, considering the prevailing high levels of competition in the market. The manual way of documentation is quite time-consuming, as documents need to be prepared, checked, printed, filed, and then stored. Not to forget, the time drain in locating the right documents from amongst the bundles.
As per a report, manual document retrieval can take up to 20%-40% of employees’ time.The same report also highlights that managers spend on average 4 weeks per year searching for misplaced and lost information.
This valuable time, which is actually spent on managing documents manually, is considered a loss, as it could be used to produce more effective results for the company. A report reveals that paperless record management can cut the file processing time by approx. 4 days. As the documents get securely stored in the cloud software, it becomes easier for employees to simply browse through those folders saved electronically, and with the click of a button, there you go!
Time is a precious commodity, so spend it wisely on those strategically important tasks which could fuel the organizational growth. Remember, time is money!
Employees are the biggest asset and resource for any organization. A great team alone can push the growth of the company beyond boundaries.
A recent study highlights that work overload brings down employee productivity by 68%. The reason for this is stated by the employees themselves – lack of time to perform newer tasks. Dealing with immense documentation in a manual way, thus, not only consumes valuable hours of the staff, but also limits their productivity and growth, and in turn, the growth of the organization at large.
With an advanced document management system in place, employees could heave a sigh of relief, as they are quickly able to store and retrieve all information from the cloud. The faster all these processes culminate, the more efficient the employees become!
Therefore, save paper, save time, and utilize your resources well with the use of a right document management system. We bet your organization would enjoy an umpteen number of benefits!