The problem with paper
There are a host of reasons why paper consumption is problematic. One of the most widely known issues with paper is that its production process is one of the biggest causes of pollution worldwide - polluting air, water, and land. Besides this, there are several other problems relating to its consumption:
- Costly: On average, 50% of printed paper will end up in the trash within a day, and businesses spend around $48,000+ per year on paper and paper-related costs, such as storage and labor.
- Easy to lose: Paperwork is handled multiple times and often by numerous people, making it easy to lose important documents as they may be misplaced during processing or misfiled.
- Lack of security: Not only can documents be stolen, but fires, floods, and other hazards can also damage them, leading to a loss of important information.
- Time-consuming: Manual data entry takes a long time and, if you don't do it properly, it can be full of errors that need correcting.
- Productivity killer: Paper-based processes lead to slower turnover and unhappy employees, negatively affecting your bottom line.