Many of us have long since evicted CD towers and shelves of DVDs from our homes, having everything we need on our tablets and smartphones. The office, however, remains stuffed with documents that could be easily digitised.
Sticking with paper not only costs you floor space and money, but it could also impact upon customer satisfaction.
Problem #1 – Paper Costs You Office Space
Physical paper takes up a lot of room. The average office sacrifices more than 15% of space to paper. With paper comes paraphernalia, from shredders and stationary to recycling and secure disposal bins.
Paper documents also require storage. A typical business can have as many as 130 filing cabinets. This amounts to about 242 square metres of floor space, almost as big as a tennis court. This precious space could be used for a variety of other uses, from the water feature you always wanted to additional desks. The freed-up space could seat the equivalent of 166 staff.
The Solution? Go Paperless
Digitising documents would halve the storage space needed for paper in five years. Electronic filing could reduce the amount of space dedicated to paper to just 7.4%.
Digital signatures allow agreements to take place on tablets and smartphones, without the need for couriers or postage, making going paperless a more practical solution for today’s office.
Problem #2 – Paper Costs You Money
An employee that burned through money as much as paper had would soon receive their marching orders. It’s time to show paper the door.
Having spent £19,000 to fill one file cabinet, companies must then spend an additional £1,600 a year to maintain it. On average, an employee spends about 15 minutes filing a document properly, amounting to over 250 hours and £3,800 spent annually.
Statistics show that 3% of an organisation’s documents are misfiled, taking at least twice as long to find. It’s estimated that 7.5% of all company documents are lost completely – one every twelve seconds at large organisations – at a cost of around £570 per document.
The Solution? That’s Right. Go Paperless
Going paperless can result in significant savings, allowing for freed resources to be spent on customer service and innovation.
Studies have shown that using DocuSign eSignature yields benefits of more than £28 per document, including hard savings, productivity, and revenue gains. Multiplied by thousands or even millions of documents per year, the savings can be huge.
Research by Capgemini Consulting found that, on average, “digital leaders” are 26 percent more profitable, generate 9 percent greater revenues, and have 12 percent higher market valuations than their industry peers.
Problem #3 – Paper Costs You Customers
Customer expectations are higher than ever; not only must user experience meet their needs, but their values too.
Customers expect a frictionless user experience across channels. 75 percent consumers expect a consistent experience wherever they engage, and 50 percent of consumers are likely to switch brands if a company doesn’t anticipate their needs.
In turn, over 80 percent of consumers value sustainability. The environmental impact of paper is significant — its production causing deforestation and air pollution — and two-thirds of customers are willing to pay more for products from companies committed to positive environmental impact.
The Solution? You Guessed It…
Satisfied customers mean repeat business and referral. DocuSign’s impact on customer satisfaction can be huge. For example, AstraZeneca increased its customer satisfaction rate by 16 percent.
In turn, going green will hold stock with your customers and could prove beneficial for your bottom line.
Companies of all sizes are embracing a more effective, paperless way of working. More than 300,000 unique users join DocuSign’s Global Trust Network every day, embarking on their own digital transformation.
Download our eBook – See Why It Pays to Go Paperless – and find out how much you could save.