More and more companies are going entirely paperless. It requires a minor investment of resources in the early stages, but taking your business digital comes with a wealth of benefits and virtually no drawbacks.
Going paperless minimizes your need for storage space and containers. It also reduces the likelihood of essential documents becoming damaged or destroyed by flood or fire. Further, operating through digital platforms and systems allows your team to expedite processes and work more efficiently, ultimately helping you to better serve your customers. And it’s an excellent way to minimize your organization’s carbon footprint.
As with other business changes, going paperless involves a slight learning curve. But if you make a plan and carefully consider each step, you can position your company to reap the benefits. The Twins Falls Chamber of Commerce has listed some fundamental tips to get you started!
Managing Documents
To get the most from going paperless, you must establish an effective document management system. Start with a minor project, such as organizing your marketing documents, accounts payable, or contracts. Create an inventory for all your documents and observe how you typically look for files when you need to find them.
Also, ask yourself which document categories are higher priority than others and who should have access to each category. It can help to establish an automated workflow for keeping things running smoothly.
Fortunately, document management platforms on the market can simplify this process. Here are some of the most popular ones:
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Hightail
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KnowledgeOwl
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Confluence
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Quip
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Box
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Connecteam
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Pandadoc
Further, consider how you share files with team members or clients. PDFs are the preferred format in most business scenarios. You can convert to PDF for free with a simple tool to improve communication and collaboration. These tools allow you to turn Microsoft Excel, PowerPoint, and Word files into PDFs; all you have to do is drag and drop the files in, convert them, and share them.
Handling Legalities
Many organizational and legal tasks can be done via digital platforms. For instance, you can work with an online formation service if you need to change your business entity. Forming a limited liability company (LLC) can give your business pass-through taxation, liability protection, and flexibility. An online service will consider your state's regulations and establish your LLC accordingly.
Invoicing
You don’t have to be in business for long to experience the inconveniences and challenges of managing paper invoices. Not only does it add more work for you and your team, but it makes it more likely that you’ll have late-paying customers. Scour the market for an electronic invoicing system that:
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Allows you to create custom, branded invoices.
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Offers customers direct payment through the invoice.
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Notifies you when customers open and pay invoices.
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Provides recurring invoices.
The right software will ultimately help you maintain accurate financial records and ensure you get paid more quickly.
File Sharing
You can’t really function as a paperless company without embracing cloud-based file sharing. File-sharing platforms let you store virtually all of your data on a third-party remote server.
So, if your team of five is modifying your business plan, you could keep the document and related files in the cloud so that each employee can access, edit, and share the files in real time. These platforms are also secure, making them ideal for data backup.
Scanning Documents
Finally, invest in a high-quality document scanner. The newest models are fast, sleek, and easy to fit in any office. The right scanner will let you digitize a whole filing cabinet of documents in no time. Just be sure to get a scanner designed specifically for organizations that are digitizing a plethora of documents.
Going paperless not only benefits the environment but can transform your business operations for the better. Start developing a digitization plan today that will help your team work more productively and efficiently, improve your customer relationships, protect your most important documents, and open up space in the office. The information and advice above are only the beginning; keep researching how to prepare your team for the leap. You won’t regret it!
If you’re ready to grow your business with the help of great local resources and partnerships, join the Twins Falls Chamber of Commerce.
