GO PAPERLESS, SAVE YOUR BUSINESS

The invention of paper records was a major milestone in the development of civilisation, and certainly an upgrade over clay tablets. But a far more versatile option has come along, and paper may someday go the way of clay.

If your company isn’t already on the path to a more digital way of doing business, here are five reasons to make the switch from paper to digital records management as soon as possible.

Paper is a waste of space

Paper may not seem like it takes up a lot of space, what with a standard sheet of paper only being about 1/10 of a millimeter thick - but it really stacks up fast. According to one study, the average office worker uses about 10 000 sheets of paper every year.

Of course, paper records only make up a fraction of that total, but it still gives you an idea of just how prevalent paper still is in today’s business world.

A standard four-drawer filing cabinet takes up about 17 square feet of office space when you include the space necessary to open the drawers and access its contents. 

How much floor space is devoted to paper records at your organisation? A digital records management system allows you to free up valuable real estate to be used more effectively - or even not at all, which could greatly reduce your overhead.

Even better, with decentralised cloud computing, you don’t need to worry about large banks of computer mainframes and servers taking up entire rooms at each of your locations.

Going digital saves 

you time and money

Just as paper may not seem to take up much space, it also may not seem expensive. However, one study found that the cost of managing paper could actually be up to 31 times more expensive than the cost of the paper itself.

Managing records physically also requires a lot of time. In fact, according to Record Nations, a typical employee spends between 30 per cent and 40 per cent of their time looking for information stored in filing cabinets.

When you go digital, rather than manually digging through drawers of old paper records, workers can quickly and easily conduct a simple computer search to access the documents they need.

Digital records 

are more secure

Apart from taking up space and slowing things down (there’s more? These things really are the worst!), paper documents also pose serious security risks. Paper can easily be lost or stolen. On the other hand, strong encryption protocols on electronic records allow you to create strict permission structures, granting access only to those with proper clearance or via your company’s secured network.

Paper records are difficult to track, meaning it’s relatively easy for someone to tamper with them without getting caught. However, digitised records produce a clear chain of custody and allow you to track who has accessed documents and when.

Additionally, paper documents are at a greater risk of being damaged during an unexpected disaster, like a fire or flood. Digitising your records and keeping them in a cloud-based server can be an important component to securing business continuity in the event of a natural disaster. 

Achieve greater 

collaboration

One of the most commonly cited issues within businesses is information silos. In one study, 86 per cent of executives and employees attributed most team problems and failures to bad communication or lack of collaboration.

Another found that 69 per cent of CFOs said that keeping information siloed in departments is the biggest or most common financial mistake that companies make today.

Digitising documents is an important step toward tearing down information silos and removing barriers to effective communication and collaboration. Put simply, digitally managed documents are easier to access and share. Records can be accessed by anyone with permission in the system and information becomes more widely available, making it far more useful and valuable.

This is vitally important in industries like healthcare, where quick access to a patient’s medical records - which may have originated in an entirely different part of the country - may be the difference between life and death. But businesses in all industries are likely to see a boost in productivity and innovation after switching to digital information systems.

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