Every organization generates, receives, copies, prints and stores paper. If you buy or sell anything, you have paper; if you hire employees, you have paper; if you file taxes, you have paper and so on. The average office will produce about 1.5 pounds of paper waste per employee, each day. Most businesses don’t think enough about how much they are paying for items they are literally throwing away. Have you ever been looking through a paper file and come across printed emails? How about photocopies of announcements in your inbox and every other employees inbox? Or multple copies of invoices printed out.
Document management is a great way for businesses to start implementing green initiatives while improving efficiency. Document management software is used to store electronic documents and scanned paper documents. These systems can often be very convenient for file exchange amongst employees and reduce the weight paper puts on a business.
Perhaps the most obvious benefit of document management software is the reduced paper consumption. Digitizing records and invoices offers a myriad of benefits for your business. In most instances, in addition to the green advantages, it allows your documents to be searchable and easily shared.
TSC solutions offer substantial space savings to your business. Current estimates show that 50–70% of space in an office is still dedicated to filing and storage of documentation. Studies showing that over 45% of the files in those cabinets are duplicated information. Some analysts estimate that the average file is photocopied 19 times during it's lifecycle. Because of U.S. regulations and our litigious culture, most of the paper stored is saved in case of legal liability, compliance, and/or audits. Once filed away, most of this documentation is never accessed or needed again. A further waste consists of papers printed and stored that really are never needed at all. Each filing cabinet can cost $200-$300 and as your business shifts its paperwork to digital format, you may be able to downsize.
In support of your green initiative, TSC can help you eliminate paper now and reduce paper consumption going forward. Whether you are storing large volumes of paper in file cabinets or in off-site storage, TSC can show you how to convert all of the paper into text searchable, read-only images. These electronic documents can then be imported into our document management software to allow sharing and collaboration without wasteful printing. Going forward, TSC can show you how to reduce paper consumption with electronic archiving and desktop scanning. Other tools such as eForms, digital signatures, workflow, electronic sticky notes, version control and retention schedules can all be used to make your organization more effective and more eco-efficient. Your green initiative will also save you some green. Moving to electronic document management will save you money in a variety of areas.
We have already discussed reducing the cost of paper, file cabinets, and storage, but you can also realize cost savings in shipping, printing, and photocopying. In addition, other efficiency impacts will be realized such as improved customer service and customer retention, reduced risk of litigation by being able to find all your records when you needs them, reduced risk of fines from audits and reduced opportunity cost by reallocating resources towards growth of your business. With TSC as your partner, you can have a Green Initiative that is environmentally responsible and financially smart!