While many companies are debating the idea of incorporating a paperless office solution into daily operations, others have already implemented some form of the system and are reaping the benefits. Small and mid-sized businesses are beginning to see the different ways that larger corporation have experimented with digital solutions, and the adoption is trickling down.
A report by PayStream found that electronic invoicing and automated workflow are improving the accounts payable processes of many businesses. Overall adopting rates are increasing and more companies strive to migrate from a manual paper-based invoice system to an automated one.
"In an effort to streamline the accounts payable process, more companies are adopting automation solutions," the reports said. "Electronic invoicing and automated workflow are both experiencing increased adoption, as more companies strive to migrate from a manual paper-based invoice system to an efficient automated system."
The study found that 76 percent of respondents credit a sped up workflow process as the top benefits to going paperless. Lower processing costs, at 60 percent, and increased employee productivity ,50 percent, round out the top three.
The study also points out that one of the biggest deterrents of a paperless system is the uncertainty surrounding ROI, but these numbers make that stance harder and harder to defend.
By partnering with a document scanning and management service, businesses of any size can find an experienced partner to help them create an automotive system. Companies can start getting rid of the stacks of paper that are slowing down cost too much to maintain.
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