For many small and medium-sized businesses, going digital sounds like more effort and investment than it’s worth. But there’s a reason large enterprises are increasingly relying on digital workflows – paper is expensive, and the benefits of digital workflows are significant. Switching to digital can mean cost savings and increased productivity, which can make a big difference in your bottom line.
How Much is Paper Costing You?
It’s easy to lose track of your printing costs. Paper, toner, and maintenance all add up, and print is a big expense for SMBs. Consider these statistics courtesy of the Paperless Project:
- The average office worker uses 10,000 sheets of paper each year.
- Printed forms are often outdated within 3 months.
- 45% of printed pages end up in the recycling bin before days end.
- U.S. companies spend over $120 billion per year on print.
- Storing your printed documents can cost $1,500 per year per filing cabinet.
- Misfiled documents cost over $100 apiece, while a lost document can cost as much as $700.
- Employees spend, on average, six hours per week looking for documents.
- If you were to lose all your files, such as in a fire, your business has a 70% chance of failing.
Digital Workflow Benefits
Switching to digital workflows helps solve many of the above print problems. With a digital workflow, your printing can be drastically reduced, cutting costs from the start. You will also be reducing waste, which helps your bottom line and the environment.
Digital storage allows for a variety of benefits. In addition to being less expensive, cloud storage makes your documents readily available wherever your employees are: at the office, in a meeting, at home or away on business. This allows for easy collaboration and better productivity. With your data stored offsite and easily backed up to various locations, you can still conduct business even if your office space is damaged. Your documents can be indexed for easy searching, eliminating time-consuming hunting for files.
Making the Switch
Making the switch to digital is an investment into the future of your business. Starting with paper-heavy departments such as human resources and accounting can help you see the biggest effects quickly.
Digital workflows aren’t just for large corporations. Small and medium sized businesses with limited resources can see great benefits from the increased productivity and reduced costs that digital can provide.
Have two minutes? Click below to watch our Print Smarter, Print Greener video for more ideas to help you save money, and reduce your reliance on paper.