5 Reasons Why Going Paperless Will Put Money in Your Pocket

February 15, 2018 Chris McMath

Sticking with paper not only costs you floor space and money, but it could also impact upon customer satisfaction. Read the three top reasons to ditch it!

There is no doubt that a paperless office is cleaner, greener and more efficient. Reams of paper, once the mainstay of stationery cupboards in offices around the world, are slowly but surely being replaced by digital solutions – and businesses are quick to tally up the cost savings.

One US study from Resources Information Systems Inc. estimates that companies spend about $8 billion per year managing paper. Imagine the savings if those paper-born costs were replaced with cloud-based digital solutions? Indeed, Capgemini Consulting has found that, on average, digital leaders are 50% more profitable, generate 13% greater revenue and have 19% higher market valuation than their industry peers. In other words, digitisation pays.

If the statistics alone aren’t enough to convince you, here are five reasons why going paperless will help your business save money.

1. Europeans want to transact digitally

DocuSign’s latest research, The Digital Business: What Do European Customers Expect, found that a massive 87 percent of consumers expect to do business digitally. Why? They find paper-based transactions slow, inconvenient and unreliable. They expect quick, seamless experiences – whether they are interacting with your business on their mobile, their tablet or their PC. If you don’t deliver on what your customers want, your brand and your business could suffer. On the flipside, a satisfied customer leads to repeat business and more referrals.

2. You won’t lose out to your competitors

In the same research, 87 percent of senior decision makers within businesses are making digital transformation a top priority. In other words, you could fall behind the pack if you stick to paper-based transactions. By embracing a paperless approach – whether it be for a sales agreement, invoicing, event registration, work order, service contract or any other form that your customer requires – you mitigate the risk of losing customers to the competition.

3. It saves time, which translates to money

How much time do your team members waste printing, scanning, faxing and posting documents? What about chasing documents that have come back ‘not in good order’ (NIGO, or when a document comes back missing a signature or some other crucial bit of information)? Or tedious data entry? By going paperless and using a digital transaction management platform like DocuSign, your team’s time is freed up to focus on more meaningful tasks like customer engagement and business development. And, importantly, sales cycles can speed up – which means revenue back into the business faster.

4. It reduces your stationery bill

What does your business spend on paper, printer ink, printer maintenance and postage each year? Not to mention filing cabinets! Studies have shown that using DocuSign eSignature yields a saving of more than £27 per document. If you are regularly sending and receiving contracts, bills of sale or other paper-based transactions, then the costs very quickly add up. Going paperless will eliminate most of these costs, putting more money back into the business.

5. Customer data is safe

Storing critical customer data in the cloud can actually be safer than on paper. DocuSign meets and exceeds the most stringent global security standards; is ISO 2700:2013 and SSAE 16, SOC 1 Type 2, SOC 2 Type 2 certified and tested internationally. It also provides a legally-enforceable audit trail that shows every action taken with the document, including who signed what, when and where. By going paperless, you may find it easier and more cost-effective to meet strict compliance regulations for your industry.

Still not convinced? Use our Paperless Savings Calculator to see how much your business could save by going paperless.

The post 5 Reasons Why Going Paperless Will Put Money in Your Pocket appeared first on DocuSign EMEA Blog.

Previous Article
Are You Living Up to Customers’ Digital Expectations?
Are You Living Up to Customers’ Digital Expectations?

In today’s “want it now” culture, typified by same-day delivery and no-touch automation, customers have hi...

Next Article
Camelot Hits the Jackpot by Reducing Paper Usage by 50 Percent
Camelot Hits the Jackpot by Reducing Paper Usage by 50 Percent

The “Customer Spotlight” series shines a light on the DocuSign customers that are accelerating their busin...