SHRED FASTER: TRANSITION
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URGENCY
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The benefits of paperless system, such as invoice automation, are becoming apparent in certain industries, but this understanding hasn't necessarily translated into businesses going in that direction. In fact, many associations have witnessed a recent rise in paper use. Incomplete adoption of paperless systems Around one in five organizations (21 percent) stated they have seen increased paper consumption, according to Paper Wars 2014, a study conducted by the Association for Information and Image Management (AIIM) this year. An even greater percentage of organizations claimed they have simply been ignoring environmental legislation aimed at reducing paper use. John Mancini, President of AIIM, commented on the study, saying, "What will it take for businesses to get the message that overuse of paper must stop – that it has a negative impact on both their business and the environment? Millions of unnecessary sheets of paper are printed every single day, but reducing reliance on paper means organizations can respond to customers faster, be more productive, save on storage and have a significant impact on the world we live in." Mancini's statement reiterated the results of the study; 60 percent of those firms that have made the paperless transition have experienced ROI on their initiatives in 12 months or less, more than 75 percent in 18 months. The majority of companies taking the paperless route were already realizing the rewards. Despite the findings of the study, paperless projects and the positive impact of electronic document management are a matter of concern for some business executives. Citigroup and HP are just two companies listed in the article that publicly support paper-free initiatives. Hopes for a paperless industry
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Bill Jensen, an executive at Chase Auto Finance, gave a speech last month on his hopes for a paperless auto finance industry, according to the Automotive News blog. Jensen posited that, by 2020, loans in the auto industry would be "completely paperless." On top of that, customers would be able to make gradual payments from a mobile device, the article added. In a paper-intensive auto world, partial payments spawn more financial documents, further flooding the already exhausted AP departments. However, if paperless, the automotive firms would probably process these payments using some form of invoice automation. The electronic workflow these tools provide can easily handle the inpouring of partial payments that stem out of this customer-driven convenience. Paperless companies, more or less fully automated industries, are a viable vision, but it would surely help if more executives had inclinations like Jensen's. _________________________________ Ready to kick your paper habit? Register for an upcoming webcast! Learn More about PaperSave: Case Studies | Demo | News and Events | WhitePapers | Webinars | Videos | Contact Us Tags: electronic workflow, Industry News, paperless office, document management software
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marketing@papersave.com
877-727-3799