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Make It Your Business to Go Paperless

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Hr Manager Conducting An InterviewHave you sat down recently to see what your small business is ultimately costing you as far as expenses?

If the answer to that question is no, it probably would not be a bad idea to schedule some time to do just that. In the end, you may find yourself saving some money over the long run, money that could help keep you in business for years to come.

As many business owners can tell you, it is oftentimes the expenses of running a company that weight on them most.

So, where can you look into cutting expenses to keep your small business moving along smoothly?

Do an Inventory of Your Expenses

Start by breaking down your costs (including if you have staff), seeing where you might save some money.

This includes:

  • Employees – Oftentimes the most expensive component in running a business, your help typically doesn’t come cheap. That said having employees takes a huge burden off of you when running a small business. Even if you are a really small business that relies on just an assistant, he or she can prove more than worth their weight in gold over time. If money is tight (yet you still need help), you can look to reimburse the employee or employees in other ways besides income. Partial or full healthcare benefits, providing them with discounts to other area merchants, allowing them to work from home (saves them commuting time and gas bills etc.) are some ways to compensate for lower salaries. Most importantly, weigh the true costs of not having others help you. Those costs in added time away from your family, additional stress etc. can certainly give you reason to want assistance in running your business;
  • Supplies – How often do you run the numbers in what it costs you as far as office expenses? You may be surprised to learn just how much money you truly are shelling out in terms of supplies etc. More businesses are going paperless (or at least attempting to) not only to save money, but expedite how they deal with clients. Instead of there being a long and expensive paper trail, your business can ultimately save money and have faster and more precise contact with clients through technology. Whether you run a medical office or another form of business, getting information to your customers via electronic means is a win-win for both parties. This is also true when it comes to billing clients. Instead of the cumbersome paper trail, everything can be neatly viewed online. When ordering supplies yourself, you should also do as much online as possible, saving you and the vendor time and money;
  • Teleconferencing – While in-person meetings with clients are sometimes necessary (don’t underestimate the value of such interactions), doing teleconferences has benefits too. Instead of having to run in and out of your office meeting with this person and that person, doing it over the computer, by phone etc. can save you time and money in the long run. If you run your business from home, set up an area in your residence where you can shield yourself from distractions, allowing you to do Skype and other video conference calls with customers. This saves you the hassles of being stuck in traffic and spending gas money driving all over town to meet with clients. In many cases, you will discover your customers prefer this mode of communication too;
  • Deductions – Given tax season is in full bloom, have you made sure to deduct everything but the kitchen sink for your 2015 returns? Oftentimes, small business owners will miss key deductions, deductions that ultimately end up costing them money. Take the time now to do a thorough review of your 2015 taxes, looking for any possible missed deductions. You might be surprised to see the money you are literally leaving on the table.

From paperless projects at work to making your meetings with clients more productive, there are many ways your small business can save on expenses in 2016 and beyond.

The goal is to take the time to find those savings, knowing that it is a worthwhile investment over the long run.

So, as a small business owner in 2016, how are you saving money?

Photo credit: BigStockPhoto.com

About the Author: Dave Thomas covers business and marketing topics on the web.

How E-Signatures Can Help You Go Paperless

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By Jared Jaureguy

In a world that is constantly putting more and more trust in the hands of smartphones, tablets and desktops, one would expect paper to become obsolete. After all, it’s easy to read the news, check your bank account, send emails to clients, and even shop all in the cyber world. However, many companies are reluctant to let go of their reliance on paper. This could be due to the necessity of physical documents in some cases or just lack of willingness to break with a habit.

There are important incentives for going paperless. Among them are faster speeds, better organization, and benefit to the environment. Recent changes in technology, one of them being the growth of the e-signature, have made it much easier for companies and organizations to make the change.

Why go paperless?

One of the biggest reasons is efficiency. Earlier this year, attention was drawn to the Department of Veterans Affairs, when it became obvious how inefficient their system was. Veterans filing claims for disability compensation and other benefits were waiting months and sometimes years for their files to be processed. Investigations into the problem revealed that part of the problem was that almost all of the veteran’s claims were made on paper (97%). Piles and piles of paperwork had built up over the years, making the department incredibly inefficient.

Another reason is organization. Some feel that the old fashioned model of folders and file cabinets is the best way to stay organized. However, papers can easily be misplaced. Stacks of paperwork can build up, making it difficult to find anything. On the contrary, online files can be retrieved immediately.

Companies should also be concerned with the environmental impact their paper hoarding can have. Going digital helps in several ways. It saves trees that provide oxygen to the environment, lessens harmful substances released in paper industry, and reduces fuel consumption in transporting paper products. The U.S. pulp and paper industry is the second largest consumer of energy in the nation. Currently the average American office worker prints close to 10,000 pages per year. Simply deciding to use digital documents when possible can save significant amounts of oil, space, trees and energy.

How e-signatures can help

All companies and organizations use signed documents in their dealings with clients and colleagues. Printing long contracts inevitably generates a lot of paper.

Over ten years ago, the federal government passed a law giving credibility to electronic signatures, protecting them in courts of law. Over the years, the use of e-signatures has grown, as companies have adopted quick and efficient ways of transferring documents. Documents can be sent via email, read by customers (and explained over the phone if necessary), and signed by clicking boxes that show your acceptance of conditions. This method is just as safe, if not safer, than the traditional method. Most companies password protect the documents and store them in secure servers. Some even go as far as to encrypt documents when they receive them, making them virtually impossible to hack. To eliminate the possibility of tampering and fraud, the documents are made available to both parties, so no one can change them after they are signed.

The use of e-signatures is on the rise, with companies continuing to make it an easier process, and integrating them into user friendly formats on social media and personalized websites.

There are many ways that a company can go paperless, from basic email to digital record keeping. However, e-signatures are leading the way and will certainly help companies in the future become more efficient, organized and ecologically friendly.

Author’s Bio: Jared Jaureguy is an entrepreneur and freelance writer who loves all things tech. He writes for many of the top industry websites and loves to stay up-to-date on technology news. You can follow him @jaredjaureguy.