Going paperless can yield some excellent benefits for businesses of all kinds. Businesses can truly transform processes and move operations into high gear by making the transition into a paperless, digital document management system. Here is a look at some businesses that can derive the maximum benefit from going paperless.
The insurance industry is one of the most paper-heavy professions in the country. Agents going paperless aren’t just doing it to save trees, so what’s in it for them?
Insurance agencies use up paper at an impressive rate. They print reams and reams when they mail copies of policies to customers or file claims. As a result, a whole lot of money is spent on paper, a vast amount of space is occupied by paperwork, file cabinets, and folders, and a lot of time is spent typing, printing, copying, and searching for specific files through piled-up files. These companies put a small fortune of resources into filing paper.
All of these problems can be eliminated if the insurance agent decides to go paperless and store documents digitally instead. They can quickly integrate notes with the claim or policy and pull up previous notes that may support the case. There are many insurance offices that are transforming into paper-free zones. A survey conducted by Robert Half Legal revealed that many believe that going digital is a more convenient way to do business and hard copies will soon become obsolete. Paperless offices will be the norm of the future.
Financial advisors stand more to gain than just cost savings by going paperless. This field also has regulatory and compliance requirements that must be met. A paper-based system requires that the advisor spend even more time meticulously maintaining paper records, while a paperless system can keep their practice in compliance with regulations automatically. Using a digital document management system also benefits the advisor by making files available on any machine with an internet connection, as well as peace of mind that their customers’ information is safe and secure.
Like financial advisors, accountants and tax professionals need to have information ready at hand when meeting with clients. This means that going paperless will save time in accessing documents, money in equipment like copiers and printers, and money in supplies like paper and ink. As we are now coming into the tax season, you can be sure that tax preparers, Enrolled Agents, and accountants will be using more than their fair share of paper. Paperless data storage makes life much simpler during the tax season.
The Medical Field
Medical professionals are making the transition to electronic data management at a fast pace. Clinics, labs, and others tend to use massive amounts of paper, and they have much to gain by going paperless. Electronic record-keeping makes processes much more efficient, reduces the chance of human error, and makes it possible for physicians to keep data confidential by implementing security features at various levels.
Patients also benefit by medical professionals going paperless because they can receive their reports, lab results, x-rays, scans, etc. in digital form over the internet. This eliminates the need for them to make repeated trips to and from their homes and also makes it easy for them to show their medical history to other physicians who may be treating them. As more and more medical treatment centers move to paperless processes, patients are becoming ever more aware of the convenience this offers.
Sticking with a paper-based document management system may actually be harmful to your success. With the technology available today, going paperless is an easy transition that will help you seamlessly access, sync, and share all the data you need for any business activity.