In today’s fast-paced and modernized society, technology is advancing rapidly, and more small businesses are trading in the paper for a more efficient and environmentally friendly paperless approach. But what exactly are the advantages of going paper free?
Going Paperless Increases Efficiency
Storing your documents by paper filing can become especially tedious, time-consuming, and even frustrating. It is not uncommon to spend more time searching for the information you need than actually using the information—this is not an efficient use of your time as a business owner or employee.
Accessing and using your business’s information within seconds is the norm in today’s global and mobile world. Electronic documentation allows your business’s data to be filed quickly and to be organized according to date, document type, or any other criteria. When it comes time that you need to access certain information, an electronic filing system allows you to easily search for and locate the information that you need as opposed to digging through boxes of manila folders and heaps of torn and wrinkled papers.
Leaving Paper Behind Eliminates Costs
Instead of incurring the potentially exorbitant expense of printing and storing your business’s documents, going paperless eliminates the need for hard copies and allows your business to retain all of the same information on its server. Additionally, the efficiency associated with going paperless allows for quicker service to customers. With the opportunity to access and use your information instantly, you can increase the quality and quantity of the work that you are able to perform within your office, ultimately leading to higher revenues.
Proving Compliance is Easier
Federal regulations such as HIPAA and The Sarbanes-Oxley Act require businesses to take precautions and measures to maintain confidentiality and integrity of their stored data. As you can imagine, paper-based systems can make tracking and managing data nearly impossible in relation to electronic filing systems. With electronic filing, document management and compliance become much more efficient by providing a trail of when your documents are sent and received. Furthermore, built-in security associated with an electronic system can limit who can access your business’s information, ultimately preserving its confidential nature.