May 5th 
When the computer first entered the office place, speculation flew that the days of a paperless office might not be too far behind. Those days came and went, and still paper dominates the landscape of the modern office space. But does it have to?
No, according to a recent report from JP Morgan, “Sustainable Treasury Management: It’s Easier Than You Think”. The report concluded that the feasibility of the paperless office is finally here. Before, a paperless office was neither technically nor economically possible. But today, with help from digital document imaging solutions, it can be a reality.
The report states the banking mogul has helped more than 25,000 of its clients eliminate more than 24 million paper documents in only 18 months through digital processes and solutions. Digital processes have helped replace traditional paper documents like paystubs and invoices with digital versions, as well as reduced the volume of paper used by clients by 77 million documents.
This move to digital means a lot more than just saving paper. According to the report, maintaining an office full of paper carries a huge cost. On average, filing and maintaining 500,000 pieces of paper costs:
- $250,000 in workflow management
- $115,000 to research lost files
- $150,000 in storage and disposal costs
Cutting out the paper could save more than half a million dollars a year – more than a dollar a sheet, according to the report.
Learn about document scanning for banking and financial services offered by microMEDIA, which have empowered numerous global banks, brokerage firms, insurance companies and related financial services companies to go digital efficiently and cost-effectively.
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Learn more about how microMEDIA can fulfill your imaging services needs.
This is very valuable information. The wave of the future is being ecologically savvy, and people need to jump of the train in order to reduce the amount of paper/waste we throw into landfills.