If you’re looking for a way to update your business and save money, going paperless could be the exact solution you need. In nearly every aspect of business, there is an electronic way to replace paper.

Businesses that haven’t begun phasing out paper are already behind the curve.

Now is the perfect time to stop using paper. You’ll be surprised how much money you can save by going paperless immediately. This doesn’t mean that you can simply stop buying reams of paper. It means you stop buying paper products, like paper towels and cups, file folders, and anything else that is made of paper – even books and manuals. Consider the cost of ink – you’ll no longer have to buy any!

Going paperless is a big step, but you will be pleasantly surprised at how quickly you and your employees adjust to it. You’ll be even more surprised at how much money you save by removing paper from your workplace. The actual dollar amounts will vary based on the size of the business. Here’s how you can save:

1. You will spend less money on paper and related products.

To stop purchasing paper products for the bathroom and the break room, you will need to find alternatives. Asking employees to bring their own reusable kitchenware and clean it on their own is one step. But, if your bathrooms do not have electric hand dryers, you will want to have those installed.

2. No need to lease copy machines and stock their supplies.

Leasing copy machines or stocking supplies for computer printers is expensive. If you no longer need to print anything, then this expense completely disappears. If you have purchased expensive printers or copiers, there are businesses that will buy them and resell them.

3. Postage expenses decrease as billing becomes electronic.

Going paperless means that you rarely have to spend money on postage. It’s easy to set up electronic billing with CRMs and other apps. If you have customers who have yet to pay electronically, this could be the nudge they need to get into the 21st Century.

4. Less time and space filing and caring for paper.

Without paper, you no longer need to file it. So, you no longer need filing cabinets or the storage space. You might be able to move into a smaller space or stop paying rent for expensive storage facilities. Instead, hire someone to scan all of your papers and get them into a cloud for safe keeping.

5. Opportunities for telecommuting increase.  

Because you and your employees can access everything electronically, you may be able to offer telecommuting opportunities. This not only saves you money, because you could close the office occasionally, thus reducing utility expenses, but it also saves your employees money on transportation. This is a win-win for everyone involved!