5 Reasons Why Going Paperless Will Put Money in Your Pocket

What are the benefits of going paperless?

There are several economic benefits of going paperless. As organisations around the world replace the use of paper with digital solutions – businesses are beginning to reap the cost savings while becoming cleaner, and greener.

Despite that, the UK government waste data statistics show that organisations still send tonnes of paper to waste every year.

In this post, we discover 5 reasons why going paperless can help your business save money and the planet, and why you might want to begin your paperless journey.

1. Customers want to transact digitally

Customers 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 flip side, a satisfied customer leads to repeat business and more referrals. Advanced eSignature features can significantly improve customer experiences and streamline transactions.

2. You won't lose out to your competitors

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. Implementing a Contract Lifecycle Management (CLM) solution can give you a competitive edge by streamlining your contracting processes.

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' or when a document is missing a vital signature? A recent Forrester study commissioned by Docusign, The State of Systems of Agreement 2020, stated that many processes still remain manual in places — including those that are paper-based.

Inefficient, manual agreement processes are reported to have been detrimental to customers, internal processes and revenue. 32% of respondents said that manual processes caused abandoned deals and reduced contract completion rates.

Going paperless enables you to increase productivity and focus your team on more meaningful tasks like customer engagement and business development. Speeding up the sales cycle brings revenue into the business faster.

4. It reduces your stationery costs

What does your business spend on paper, printer ink, printer maintenance and postage each year? If you are regularly sending and receiving contracts and other paper-based documents, then the costs very quickly add up. Going paperless will eliminate most of these costs, putting more money back into the business. Integrating digital payments with eSignatures can further streamline your financial processes and reduce costs.

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. Understanding the legality of electronic signatures can help ensure your paperless processes are compliant.

Want to learn more? Discover 3 tips to help you go paperless or contact us to speak to our experts.