As tax day passed this week, many business owners no doubt found themselves scrambling for misplaced records, forms, and documents at the last minute. Not only can an electronic document storage system can cut your tax preparation time and ensure a more accurate filing, it can also help you save big on supply costs and reduce overall waste. Here are the top 6 reasons to switch to an electronic document storage format:
No (or less) paper means no filing cabinets, bankers boxes, or desktops piled high with papers. If you purchase an all in one printer copier, you’ll also eliminate the need for multiple machines, toners, ink, and other supplies. There’s a lot to be said for simplifying your office space- clean surfaces often lead to clearer thinking, as well.
Longer Storage Time.
How long physical “hard copy” documents need to be kept depends on your industry. Businesses often choose to keep files well beyond the time limits dictated by professional standards. Electronic storage makes long-term storage more feasible: Instead of paying for storage space off-site, you can keep electronic copies on hand at your office for a longer period of time.
Improved Document Management.
Copier machines with scanning and fax capabilities can track documents, paper use, and even copy volume by client, project, or employee department. Improved document management is especially helpful for businesses that bill clients at an hourly rate or for materials costs. With electronic storage, it’s easier to get and stay organized.
Good for the Earth.
Reducing paper consumption is one of the easiest ways to “go green.” Many are surprised to learn the environmental impacts of making and using paper: Did you know that the paper industry is the single largest consumer of water used for industrial activities? Paper makes up 70% of office waste, and by some estimates nearly half of total waste products each year. Eliminating paper consumption at just one office can make a very real impact.
Good for your Wallet.
Using electronic document storage means that you print when you choose, not every time you need to read or file a document. This extends the life of your office copier and saves on supply costs. The less frequently you purchase paper, ink, toner, and other supplies, the more you save.
Switching is Easy.
Converting to electronic storage is easier than most people think. All smaller businesses need is efficient equipment, such as a scanner and printer copier with network storage capabilities. Businesses with a large volume of documents can hire a company that specializes in converting documents to electronic format. Whichever method you choose, make sure the system is easy to work with once you convert.