A well-organized and effective record keeping system is crucial for any business’s success. Paper records have been the best way to organize and store important data and information for years. Companies are now moving to digital record-keeping due to technological advances, especially the lockdowns that were triggered by the Covid-19 pandemic.

Businesses have realized the benefits of digital documentation and are no longer reliant on their old filing cabinets. They can save money, time, space, and the planet, as well as protect the most valuable data. These five benefits are discussed in detail in this article.

Time-saving

Digital records have the advantage of saving time compared to analogue alternatives. Digital files can be stored in databases that allow them to be tagged and labeled according to their content.

Employees will find it much easier to locate documents related to a particular area of interest if they are able filter them using many criteria. Paper documents are usually sorted alphabetically, but they can be sorted using one criteria.

This new accessibility level goes beyond the existing one – employees no longer have to physically search the filing cabinets. They can access the documents anywhere they are in the office, or from their homes via the internet.

Like paper records, large documents can be broken up into smaller pieces. Free split services are available to quickly and easily separate pages from large digital documents into multiple files.

Amending information

Editing a paper record requires printing a new document and then entering new information. Digital records can be edited with just a few keystrokes. You can easily correct any errors without having to create a new form.

While paper records may need to be sent to clients or colleagues by post, digital files can be instantly and much more easily.

Customer service

It is essential to listen to customers and fulfill their needs when dealing with them. Customers expect prompt and efficient responses to their questions. Instead of making your customers wait while you search through dozens of files related to their question, it is better to just insert the relevant search phrase and retrieve it within seconds.

You can quickly email the file to the customer after you have retrieved it. These are just a few of the many time-savings that digital records offer. The digital records make it easier for workers to concentrate on the areas and operations that are most important. You should explore other methods to improve your customer support.

Save Money

Digital records can save time and money. They will make your workflow more efficient. This includes reducing the cost of supplies, as well as making it easier to spend your employees’ paid hours more productively.

Supply Costs

It is possible to edit records digitally, as mentioned above. Physical records can quickly become expensive to maintain. This includes the cost of printing paper, off-site storage, and the costly printer ink. These expenses will only rise as your company grows, so reducing your dependence on them can save you a lot of money in the long-term.

Despite digital databases being more popular, the average American office worker still uses 10,000 sheets per year. This paper costs companies over $120 million annually. This is despite the fact many of these records are out of date in a matter of three months.

Paper documents can be lost, damaged or stolen. Digital records are safe and secure and are protected from being destroyed.

Productivity

You will see time savings and increased productivity as less overtime is required to go through paper records. This can be a huge waste of valuable employees’ time. Although there are some additional costs for installing new software, training to use it and storage space in the cloud, they pale in comparison with the paper records.

Saves Space

You can now get rid of the piles of paper and filing cabinets by storing everything on a hard drive or in the cloud. You have many options with your newly acquired office space. One idea is to make use of the additional employees’ room to help your company expand and really make the most out of your floorspace.

You might consider using digital documents to reduce the size of your office. Imagine the savings you can make by having a smaller office without needing to store company information. The shredders can be eliminated. Word-to-PDF software converts digital files into the format that will be stored in your database.

Saves the Environment

Many people are concerned about climate change and environmental degradation. It’s vital that we do our best to make a difference. Each step in a paper record’s lifetime is harmful to the planet. Large companies require paper production at a massive scale that requires the harvesting of approximately two millions trees each day. Companies can help reduce the paper demand and prevent deforestation.

Manufacturing and transport from factory to source emit huge amounts of greenhouse gases, further damaging our atmosphere. The disposal of incorrect or outdated paper records can also cause similar damage. Although offices following good practice will recycle their paper, it is still very energy-intensive. You can reduce the amount of paper used in recycling.

This doesn’t even take into account the equally harmful ink, folders and staples that are required by paper records. You can do your part by cutting down on your dependence on unsustainable practices.

Increases security

Digital records offer additional security than paper, in addition to the many benefits they provide.

Encryption

One, databases can be secured to prevent hackers or sophisticated thieves from accessing them. The padlock in the filing room may seem to be sufficient, but it is nothing when compared with the military-grade encryption that can be used to computer files. This will make sure that sensitive company information can only be viewed by those who have the right to see it.

Depending on what permissions you grant to employees, you can limit access to files. A senior manager might have the ability to see and edit records that a junior worker might not.

Backups

Digital files can also be used to protect your files. Although it is impossible to make a exact replica of a cabinet with paper records, you can do this with your digital data in just seconds. Even in the most dire of situations, your data can be easily restored. This is not true for paper files that have been damaged by fire, theft or flooding.

In line with technological advances, legal documentation has also advanced. No longer are physical signatures necessary. Instead, sophisticated electronic signing software is available. Digital progress is another way to save time and protect your most important records.

Summarising

It’s hard to imagine why you wouldn’t make the switch to digital record-keeping when you consider all of the benefits. Although scanning and organizing your files electronically can be time-consuming, it will pay off quickly.

You will be able to save hours searching for physical documents and file searches, which in turn will result in a significant reduction of costs. Your employees will find it extremely beneficial to be able to access company files remotely from a central, easily-navigated database.

Digital conversions will result in greater efficiency and savings. You will also have peace of mind due to the increased security of your data and the positive environmental impact.