The push for a paperless office centers around the idea that when there are fewer physical documents, employees can organize information more easily. A business employs such a strategy in order to improve its overall efficiency.
However, there are several other benefits to automating workflow – important contracts or invoices are less likely to go missing, vital communication will be saved for any future compliance issues and messages can be streamlined.
Well executed information management can be a boon to a business looking to cut costs and improve reaction time, and businesses and governments are attempting to employ a digital philosophy across the board. Accounts payable has typically been the focus of the digital wave, using electronic invoices, issuing direct deposit and converting incoming bills to digital.
New Jersey recently proposed legislation to mandate direct deposit for all state employees, claiming that this act alone has the potential to save $540,000 a year, according to the State Treasurer. New Jersey previously discounted the practice in order to promote it more effectively to new hires.
The reasons to convert your office's paper to a digital format are growing, and many businesses are getting on board in order to cut costs, improve accuracy and utilize proper document management.
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