Ways to Go Paperless in Your Business

Physical documents have been a significant part of running a business for decades, but times are changing. Paperless business is growing as companies increasingly rely on electronic communication. Although transitioning to a paperless business is still difficult for many small firms, its tremendous benefits are worth the effort.

What Does It Mean to Go Paperless?

Going paperless means eliminating physical documentation in your business. The process usually involves replacing paper documents with digital files and receipts — for instance, replacing your traditional accounting papers and receipts with cloud-based accounting software.

Why Should I Go Paperless?

Cost-Saving

Going paperless is a cost-effective move for your business. The conventional method of documentation has a high operational cost, for instance, buying equipment and materials, such as paper, ink, printer, and a filing system. Transitioning to digital documentation translates to little or no printing, reducing operational costs. Also, you are likely to save space since you will no longer need aisles for file cabinets. 

Streamline Business Operations

Paperbound processes are slow and wasteful. Companies that use conventional documentation spend a considerable amount of time printing, filing, organizing, and searching through paper documents every month. Going paperless automates your documentation work, which ultimately saves time and resources needed to manage physical documents. 

Backups and Recovery

If your paper documents get lost or damaged by fires, floods, or theft, your business can lose years of valuable information. Digital solutions such as cloud storage and backup prevent localized natural disasters such as fire or floods from destroying your files. 

How Can I Transition to a Paperless Business?

Use Cloud Solution for Your Documents

Digitizing your documentation is the quickest and easiest step to going paperless. The approach involves using online storage solutions such as Dropbox, Google Drive, Mega, OneDrive, or iCloud. Such solutions will allow you to store important files, automate data backups, share files with employees, add security controls, scale your storage, and access your files remotely. 

Use Electronic Communication

Your business can enhance the paperless transition by shifting from conventional communication to electronic communication. For instance, instead of letters and paperbound communication, use emails, paperless billing, and instant messaging platforms, such as Skype. Also, conduct business meetings using project management systems such as Basecamp to eliminate paperwork. 

Digitize Processes and Financing

Digitizing your business processes contributes to optimal performance, which results in better customer engagement and a seamless user experience. You can digitize your business by making it an e-commerce platform where customers can place orders online or receive automated and real-time support on their queries. 

Accounting and finance are aspects of business that involve a ton of paperwork. So, accounting software would be handy for your accounting needs, electronic money transfer systems, and digital receipts. 

Organize Your Existing Documents

Where do your existing documents go as you transition into a paperless business? You can scan and save your documents in PDF format and upload them to the cloud. Use a PDF merging tool to combine the related documents in one file before saving them. Doing so will make it easier and faster to sort and find the documents. After using a PDF file merger, you easily share the important documents in one file.

Enjoy the Benefits of Going Paperless Now

If your business is still swimming in paperwork, it is time to consider making the change. The process can be complex; fortunately for you, the tips above will make the process smooth and successful.

To learn more about going paperless, join your local chamber of commerce.