There are many reasons to make a transition to a paperless office. Here are some of the benefits, plus some tips on how to make it happen.

The pervasiveness of the internet has resulted in more companies conducting their businesses through online tools. In order to fully complete their transition to doing businesses online, these companies should also stop the use of paper documents; in its stead, electronic documents should be utilized.

Benefits of a paperless office

 The switch from a paper-based to a paperless office confers several benefits to a company, namely:

• Reduced clutter: Paper documents left lying around can clutter an office leaving it looking disorganized. Clutter can also impair productivity because time is wasted looking for relevant documents. Going paperless makes an office look neater as well as more organized
• Reduced costs: A paperless office can save the company money through several means. Electronic transfer of documents saves the company from having to pay for mailing. In addition, less file storage space is needed since relevant documents are stored electronically. Furthermore, going paperless reduces or outright eliminates costs associated with printing documents such as printing paper and ink.
• Data security: Documents stored digitally can be backed up and saved in multiple locations. This helps guard against the loss or tampering of important information that may occur with paper documents.
• Flexible retrieval: Digital documents can be retrieved from varied locations as long as there is an internet connection. This provides employees with the flexibility and versatility to work from other places and not only from the office. 
• Environmental benefits: Going paperless helps the environment as fewer trees are cut down to make paper. 

 How to convert to a paperless office

 Intentional planning and foresight are needed to transition an office from paper-based to paperless. Here are some steps that can be implemented in making this transition

• E-sign documents: Software and applications should be acquired that allows documents to be signed electronically. Documents can be then be sent online to relevant parties for signature and then returned using the same medium
• Scan documents: Important documents received by mail should be scanned and saved electronically after which the paper copies can be destroyed. A good scanner should be procured that can scan a large number of documents
• Paperless faxing: With paperless faxing, faxed documents are delivered electronically instead of being printed out like a regular fax machine. The faxed documents can be sent to any device with an internet connection.
• Electronic invoices: Invoices should be sent to clients across the internet instead of being mailed out. This can be done either through email or by the use of special invoicing software.
• Online banking: The use of online banking negates the need to write paper checks as money can be transferred electronically via the bank’s website.
• Electronic statements: Statements from clients or other business partners should be delivered electronically rather than by paper. Special software may have to be procured for this to take place.

At Ebrahimjee & Essaji Professional Accountants, we know how important it is to cut costs and maximize gains for your business. In addition to going paperless, we can provide other online solutions that will help streamline your business and reduce unnecessary paperwork. Contact us today for further information about how we can help maximize your business’ profitability

E&E Professional Accountants has years of experience in assisting businesses with their accounting needs. We are founded and managed by an experienced corporate auditor and a former CRA tax auditor. Feel free to contact us for assistance with all your accounting and bookkeeping needs.