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THE FINANCIAL ASPECTS OF GOING PAPERLESS

One other notable advantage that ultimately influences corporate leaders to decide going paperless is the

fact that they can save a significant amount of money by implementing this strategy within an office.

Because so many corporate leaders are turning to

electronic workflow now to jumpstart their organizations,

there are numerous people ready to proclaim the various

benefits of digitizing. To name just a few, this process can

help ensure against physical destruction of records, free up

office space and plenty of other advantages.

Some company leaders are still on the fence, as there are a

number of owners who haven't explored their options or

learned about this type of document management

software yet. You'd think that the proclamation of all of the

benefits would be enough to swing their votes.

However, it might be one other notable advantage that ultimately influences corporate leaders to decide

to digitize - they can save a significant amount of money by implementing this strategy within an office.

This might seem vague - after all, don't administrators have to buy the management programs and scanners

and dedicate a lot of man hours to this effort? While the answer to these questions is ultimately yes, the

fiscal rewards that can be seen are unparalleled. What are the most notable expenses that can be saved?

Individual costs

They might seem like small enough factors, but over time, buying reams of paper, cartridges of ink, new

printer parts and storage receptacles really adds up. However, each of these expenses would be eliminated

if a digital plan was implemented.

Pacific Union International Vice President of Operations Christina Bonner told Inman News that this was

one of the biggest draws within her business. That was the tipping point for Pacific Union, as storage costs

and paper expenses run the company's budget up significantly.

That mixed with the fact that there was already high customer demand for using e-signatures to approve

things like invoices made digitizing a no brainer.

Donations may be made

The cost savings might be even more significant if company administrators can shave some of the initial

expenses that digitizing requires. It's no secret that businesses will have to shell out a little bit of money

right in the beginning. This covers the purchase of the scanners that will be used to place documents into

a digital infrastructure, as well as the document imaging workflow platforms leveraged. Not to mention,

some businesses might think about taking on more employees - as a number of workers will be tasked with

digitizing though they still have other responsibilities.

A number of firms might find that they can appeal to organizations in their industry or other groups that

help in these situations. For instance, when 2,100 credit unions decided going paperless, the Credit Union

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National Association contributed more than $10,000 to the National Credit Union Foundation, Credit Union

Times detailed.

Moreover, organizations heavily involved in green initiatives may offer funding opportunities to companies

that dedicate themselves to digitization and stop wasting paper. It's just up to the leaders to exhaust all of

their options.

More protections can mean more savings

If a company has many highly sensitive documents, they may have had to invest in expensive ways to protect

these files. From high-tech file cabinets to remote storage facilities, many businesses had to archive the

records in special ways, which almost always requires additional expenses.

For New York's Ogdensburg City Council, this included hiring police officers when files were being

transported or a number of other processes, The Watertown Daily Times reported. This meant that the

organization had to pay each law enforcement agent $22.99 per hour during these operations.

However, after digitizing, these costs are almost entirely eliminated. Companies can protect their important

documents online behind passwords, encryptions and anti-virus programs, all of which are exceedingly

impenetrable but low cost.