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Paperless Transactions: The Last Frontier for a Green Solution

Wadih Pazos October 1, 2021

Paperless Transactions: The Last Frontier for a Green Solution
AP Automation
Blog
The process of adopting a paperless solution into daily operations can be a long one, but the efforts aren’t without their own merits.

Document management software can help organizations eliminate the amount of paper moving through their offices, cut down costs and assist in streamlining tedious business processes.

Interdepartmental communications can be digitized to ensure they reach their destination at lightning speed, and even the vital contracts some groups need signed can be scanned with document imaging hardware to expedite deals and agreements.

As more industries implement their own solutions, some may encounter one of the last steps to completely transition away from paper: the process of invoice automation.

Transcend borders and obstacles

As more companies and enterprises begin to conduct business with partners overseas, the need for faster transactions and communications is becoming paramount in a variety of sectors.

An electronic workflow can help organizations remove the barriers imposed by long distances and conduct operations as if associates were in the next room, not halfway around the globe.

With partners ordering equipment and products from one another, business to business transactions are becoming a necessary component of negotiations, according to PYMNTS. If companies are getting tied up waiting for payments to come in the mail, they could lose out on valuable revenue and even damage their public reputations.

For enterprises that want to convert to paperless procedures, they don’t have to completely scrap their way of doing things. Organizations can incorporate document management software into their existing systems to make the transition easier, added the source.

If companies have to print out bills and send them out in an envelope, any number of factors can influence its arrival at its destination.

Weather and human error are just two problems that might impede delivery, but with automated billing, organizations can easily track where their invoices were sent and guarantee they’re immediate delivery.

Do you have to sign for that?

One of the last bastions for paper in the office is the requirement of a signature on an important document. Before the days of modern technology, employees might have thought it impossible to get the signature of someone in another country the same day.

When key transactions and deals rely on somebody signing his or her name, getting that autograph can become a primary goal for an organization.

E-signatures are growing in popularity, as many companies begin to recognize the importance of adding the capability to their paperless solutions. However, making the feature available isn’t the only action groups need to take if they want to see quick results.

It can be very easy for someone to derail the procedure and throw paper into the mix, asserted TechTarget. If the recipient of a document decided to print it out before signing it, rather than doing so electronically, organizations may have to scan the item whenever they receive it to ensure it’s added into their systems.

If not, there may be a discrepancy in firms’ records, negating all the benefits a paperless office is supposed to provide. E-signatures make it much more simple for companies to track documents, reveal who signed them, when and where, added the source.

This reduces some of the liabilities a paper trail has as well as adding an instantaneous speed in which these transactions can be completed.

When associations attempt to turn themselves away from paper, to do so successfully requires all encompassing adjustments in every aspect of business to see the most benefits. Simply embracing a few facets of a paperless solution prevents other advantages digitizing office materials can offer.

Wadih Pazos

Wadih founded both PairSoft and PaperSave. He is an avid technologist who specializes in streamlining operations and maximizing productivity.

View all posts by Wadih Pazos
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