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Top 3 Financial Reasons to Convert from Paper to Digital Records

Paper hardcopy has been the accepted way to keep business records for decades, but the new focus on digital storage leaves some companies unsure. While the world looks to new technology, there is something comforting about having a physical file to hold in your hand. Should you convert from paper to digital or not? The most compelling arguments for the switch are the financial benefits that come with the upgrade.

Financial Reasons to Convert from Paper to Digital
Every company wants to save money and reduce overhead. The switch from file folders and filing cabinets to microchips and disc drives offers genuine savings in three key ways.

1 – Reduce Rented Space Needs
File cabinets and shelving take up a lot more space than digital records stored on a computer. Even if a company uses physical digital media, one disc or drive has a much higher capacity for data in a smaller space. After the papers are scanned onto digital media, destroy them and either reclaim space for other purposes or reduce the size of the office and save on rent.

2 – Decrease Associated Labor
Flipping through paper files takes more time than a search through digital information. Clerical employees may spend the bulk of their day walking to and from the file room, searching for misfiled paperwork, and then putting it back again after use. The switch to digital either removes the need for dedicated file-handling workers or frees them up for more productive tasks that lead directly to increased company growth or profits.

3 – Minimize Errors and Lost Records
While digital records only store what fallible humans input, they still remove problems caused by mistakes, misunderstandings, and missing records. For example, bad handwriting on a paper form could cause an employee to give a customer the wrong information that may lead to chargebacks or lost business.

The reasons to convert from paper to digital records include financial benefits that are difficult for companies to ignore. With help from the professional team at Image X, Inc., the process completes efficiently without worry or stress.

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