Saving Money

4 Big Ways to Boost Your Business By Going Digital

At one time, there was no business on Earth that could operate without shuffling a lot of paperwork. In many ways, paperwork was the lifeblood of business, containing all the data, facts, figures, plans, and information needed to keep the dollars flowing in and out.

New laptop on a table at modern office

New laptop on a table at modern office

That is no longer the case. Thanks to digital technology, document scanning, and changes in how we conduct business, the paperless office (or nearly paperless office) is a reality.

Many business owners assume the idea of a “paperless office” is only for tech, IT, and financial businesses; that it doesn’t apply to small and mid-sized businesses like theirs, especially if they deal with a lot of customers.

But that assumption is wrong. To understand why, you first need to understand how document scanning and paperless initiatives can benefit you:

1) Improves Your Customer Service

The nature of your business doesn’t matter, a general rule is going to apply no matter what: customer service is paramount.

You ability to succeed and grow begins and ends with your ability to service your clients’ needs. Going paperless can be a big boost in that regard. You can ensure their phone calls and visits are resolved quickly when the information they are looking for – copies of a contract, old medical records, past invoices, and so on – can be retrieved quickly and easily.

That means your customers will walk away happy, and happy customers are return customers.

2) Boosts Your Employee Productivity

No one likes to shuffle paperwork. The feeling is nearly universal: employees hate it.

When you eliminate paperwork and instead have all those documents at the tip of their fingers, however, you give your employees the ability to work smarter rather than harder. This lets them hunt down those old invoices, review that contract from two years ago, and so on with minimal effort.

And that will not only make them happy, it will make them far more productive, too.

3) Saves Your Business Money

A result of having more efficient employees is that your employees can do more with their time. You might not need as much staff, or they might not have to work as many hours. That has a direct impact on your bottom line.

You can do the math yourself and see: If your typical employee has to dig up 20 documents per day, and it takes five minutes to find each document, that’s over an hour and a half per day sorting through papers.

If it instead takes 10 seconds when that document is scanned into the computer, they will have saved 100 minutes of work per day. At $12 per hour, that’s nearly $5,000 annually.

The numbers don’t lie.

4) You’ll Enhance Your Security

When it comes to identity theft and electronic theft, the biggest vulnerability for businesses with data to protect – legal offices, medical practices, contractors, those in the financial sector, and so on – comes in the form of good old fashioned paperwork.

Rummaging through dumpsters is still the primary way thieves get access to key data about you, your employees, and your customers. It’s how criminals clone your checks, get your bank account numbers, and more.

By going digital, your data can be safely encrypted, keeping it safe from prying eyes even in the virtual world.

That kind of security is priceless.

Are you ready to take your business virtual today?

The Real Cost of Paper: 15 Facts That Show What Your Business Spends (and Where it Can Save)

Doing as much of your business as possible in a paperless way isn’t necessarily about being “green.” Paper is expensive – and not just the cost of the paper itself.

document management

document management

A number of studies have looked at the cost of working with paper, and the results may be surprising. The numbers don’t lie: working with paper costs you time and money, impacts your productivity, and just plain serves as an anchor dragging your business down.

Take a look:

• Industry studies show that it costs companies $20 on average to a file a paper document. (This includes labor and salary costs, storage, office supplies, and other factors.)

• Gartner Research found that those in professional fields working with paper spend 50 percent of their time looking for information.

• That same study revealed that on average, professionals take 18 minutes to locate each document.

• On average, it costs American companies $120 to find a misfiled paper document.

• Lost documents become even more expensive, costing $220 on average to reproduce.

• On average, companies misfile about 20 percent of their documents. When coupled with the numbers cited above, those errors can get costly.

• Paper documents impact productivity. Studies show that upwards of $14,000 of productivity is lost per worker each year as a result of difficulties in finding data needed to complete their job.

• Paper costs add up. Citigroup conducted a study and found that if each employee saved just one sheet of paper per week, the company could save $700,000.

• The labor associated with paper usage adds up, too. One study showed that a $5 ream of paper ends up costing the average business $155 in labor costs associated with what is done with that paper.

• In terms of labor cost, your standard four-drawer filing cabinet will cost about $25,000 in man hours to fill with documents.

• That same four-drawer filing cabinet will cost about $2,000 per year to maintain. Again, this factors in storage space, labor, and other factors.

• Even today, office workers use a lot of paper. The average office worker uses about 10,000 sheets of paper per year. That’s two full cases of paper per employee.

• While this is changing, at the moment some 90 percent of business information exists only on paper. One fire, one accident, one flood, one theft and it’s gone.

• A study by Cooper & Lybrand found that 70 percent of businesses existing today would fail within three weeks if they had a catastrophic loss of their paper records.

• Cutting waste is easy. Industry studies show that the average business can cut paper usage by 25 percent by increasing the use of email and online services, and doing double-sided copying.


At this point, the facts speak for themselves. The traditional way of conducting business – on paper – is a relic that smart businesses are leaving behind.

What kind of business is yours?

14 Facts You Need to Know About Identity Theft

Identity theft is no small problem. It impacts millions of people every year, costing them anything from some minor inconveniences to major money.

For both individuals and businesses, it’s vital to understand what identity theft means for you.

call to action

call to action

Most of you know the basics. Shred sensitive documents. Use a document scanning service to archive sensitive data and put important documents in a safe storage space. And so on.

What you might not realize is just how widespread this problem is. In order to wrap your head around the scope of the identity theft issue, consider these salient facts:

• Identity theft is the fastest growing crime in America, according to experts in the field.

• According to the Federal Trade Commission, there are now an astounding 99 million instances of identity theft every single year

• Identity theft has a real cost: the average victim loses about $500 and takes up nearly 30 hours of their life to resolve the issue

• Of all complaints received by the Federal Trade Commission’s Consumer Sentinel Network (CSN), some 14 percent of them are related to identity theft

• You might think most identity is related to financial and credit fraud, but in fact, utility, phone, and employment fraud make almost double the amount of cases (which means preventing such fraud is one of the essential money-saving office tips).

• About 85 percent of identity theft overall involves the fraudulent use of account information, usually credit card numbers, bank account numbers, and so on.

The scale of this problem can be a little shocking. Those in the medical field know it. It’s one of the reasons why they’ve increasingly turned to medical records scanning to protect their patients and to abide by HIPPA regulations.

The idea that this problem could happen to you is backed up by the U.S. Department of Justice. Consider these statistics:

• In some 32 percent of identity theft cases, the crimes are perpetrated by a family member, and another 18 percent of them are perpetrated by a friend or neighbor

• About 8.6 million households, or 7 percent of all households in the U.S., had at least one member who had experienced identity theft in 2010 alone.

So short of converting to a paperless office to better prevent these crimes, what do you do if you have become the victim of identity theft?

Here’s are some things to consider:

• In most cases, banks and creditors hold the victim responsible for only the first $50 of fraudulent charges.

• Catching the problem early is the best way to clean up problems resulting from identity theft.

• If you find you have become a victim, gather all the information possible, then immediately contact your creditors and financial institutions to start on a resolution.

• Consider the use of a credit monitoring service. They will help you keep tabs on your bank, credit cards, and so on.

• Among those who have been victimized by identity theft, fully half of them were able to resolve it in a single day.

• That said, another 30 percent of victims were forced to spend a month or more resolving their problems.

The bottom line is simple: identity theft is not something that happens to other people. It’s a widespread problem that can happen to you – but you can prevent it, or at least minimize the damage, if you’re informed.

4 Ways Your Business Benefits From Going Digital

At one time, there was no business on Earth that could operate without shuffling a lot of paperwork. In many ways, paperwork was the lifeblood of business, containing all the data, facts, figures, plans, and information needed to keep the dollars flowing in and out.

New laptop on a table at modern office
New laptop on a table at modern office

That is no longer the case. Thanks to digital technology, document scanning, and changes in how we conduct business, the paperless office (or nearly paperless office) is a reality.

Many business owners assume the idea of a “paperless office” is only for tech, IT, and financial businesses; that it doesn’t apply to small and mid-sized businesses like theirs, especially if they deal with a lot of customers.

But that assumption is wrong. To understand why, you first need to understand how document scanning and paperless initiatives can benefit you:

1) Improves Your Customer Service

The nature of your business doesn’t matter, a general rule is going to apply no matter what: customer service is paramount.

You ability to succeed and grow begins and ends with your ability to service your clients’ needs. Going paperless can be a big boost in that regard. You can ensure their phone calls and visits are resolved quickly when the information they are looking for – copies of a contract, old medical records, past invoices, and so on – can be retrieved quickly and easily.

That means your customers will walk away happy, and happy customers are return customers.

2) Boosts Your Employee Productivity

No one likes to shuffle paperwork. The feeling is nearly universal: employees hate it.

When you eliminate paperwork and instead have all those documents at the tip of their fingers, however, you give your employees the ability to work smarter rather than harder. This lets them hunt down those old invoices, review that contract from two years ago, and so on with minimal effort.

And that will not only make them happy, it will make them far more productive, too.

3) Saves Your Business Money

A result of having more efficient employees is that your employees can do more with their time. You might not need as much staff, or they might not have to work as many hours. That has a direct impact on your bottom line.

You can do the math yourself and see: If your typical employee has to dig up 20 documents per day, and it takes five minutes to find each document, that’s over an hour and a half per day sorting through papers.

If it instead takes 10 seconds when that document is scanned into the computer, they will have saved 100 minutes of work per day. At $12 per hour, that’s nearly $5,000 annually.

The numbers don’t lie.

4) You’ll Enhance Your Security

When it comes to identity theft and electronic theft, the biggest vulnerability for businesses with data to protect – legal offices, medical practices, contractors, those in the financial sector, and so on – comes in the form of good old fashioned paperwork.

Rummaging through dumpsters is still the primary way thieves get access to key data about you, your employees, and your customers. It’s how criminals clone your checks, get your bank account numbers, and more.

By going digital, your data can be safely encrypted, keeping it safe from prying eyes even in the virtual world.

That kind of security is priceless.

Are you ready to take your business virtual today?