Over the past few years, many businesses have been moving towards the concept of going paperless as a part of their digital transformation, which served as a vital tool in enhancing operational performance and reducing environmental impact.
Throughout this time, a few great success stories have popped up, driven by paperless and eco-friendly solutions. This article will focus on how various organizations have succeeded with the help of digital transformation and the unique paperless solutions currently in place.
Benefits and Trends in Paperless Transformation
Among the benefits of going paperless is the reduced waste and need for physical space. As many companies have been striving to improve operational performance and cut costs, the trend has been taking off with “replacing paper with digital documentation.” One of the brightest examples of such a scheme can be witnessed in Cisco Systems.
The company is well known as a worldwide leader in various technology and networking solutions. Seeking ways for optimal operational performance, the corporation implemented a document management system and successfully transitioned to the paperless model.
The company utilized electronic document storage, primarily in the form of cloud storage, to ensure secure storage and simple access for every employee regardless of location, resulting in a 40% total reduction in paper usage in two years.
Such a shift not only allowed the company to save on expenses but also contributed to corporate sustainability, meeting the company’s corporate responsibility goals. Achieving success with their eco-friendly and innovative approach to document management, many companies will follow Cisco’s lead, with around 70% of them expected to do so by 2025.
Going paperless is becoming a trend primarily due to the understanding of the environmental impact of large paper consumption and the necessity of improving organizational performance. Several companies have already achieved great success by doing so.
Zocdoc: A Healthcare Success Story
An organization that turned to paperless technology and benefited from it is Zocdoc, a healthcare technology company that connects patients with healthcare providers. Prior to making this transition, the company experienced a number of problems associated with managing paperwork. In particular, the high volume of documentation and other paperwork slowed down the company’s productivity and delayed service delivery.
The company responded by devising a solution that would allow for the management of patient documentation and appointment scheduling fully digitally. This approach not only reduced the company’s paper consumption substantially but also created a more convenient experience for the end-user.
A user-friendly online platform was built, and as a result, all workflows associated with the company became automated. The company was able to avoid the use of insufficient customer solutions, such as manual work with paper, large involved staff, and nonsophisticated digital systems that could not be fully automated.
In the end, the company achieved a 50% reduction in administrative costs, courtesy of automating appointment booking and managing medical records. Moreover, the company’s paper costs were invariably reduced, and it also created a more user-friendly experience for the people who use Zocdoc.
Due to Zocdoc’s success, this move serves as a foundation for other companies moving to paperless technology. It is estimated that by 2026, 60% of healthcare organizations will turn to digital systems due to their ability to increase efficiency and better engage patients.
The Financial Impact of Going Paperless
The financial benefits of reducing paper waste are also considerable. Several entities that turned to paperless systems have reported massive cost savings thanks to the change. In particular, American Express reports that the company’s implementation of digital documents and communication systems saved approximately $10 million each year.
Paper invoices and statements were eliminated, and the company’s operations became smoother, with its cash flow being managed more efficiently. Furthermore, the expenses associated with paper management, such as printing, shipping, and storage, were reduced, and the resulting funds were redirected towards further growth and innovation by the enterprise. By 2025, it is estimated that all businesses globally will save approximately $400 billion.
How Going Paperless Increases the Environmental Impact
The question of how paper consumption influences the environment has been one of the most pressing ones recently. Still, many businesses hesitated to adopt sustainable practices. Companies that have succeeded in the shift towards paperless practices have strengthened their workflow yet also made a significant contribution to saving natural resources.
General Electric (GE) is a brilliant example in this respect. As part of its sustainability strategy, every emphasis is made to minimize paper usage throughout the company. Thanks to digital documentation and cloud solutions, GE’s paper consumption is decreased, proving its focus on sustainability in business.
Also, according to the Green Business Bureau, each year, the company reduces its paper waste by more than 2 pounds. By 2026, businesses that incorporate paperless solutions will decrease their carbon footprints by 30 million metric tons each year.
Advancements in Technology and Future Outlook
There is another advantage of the tendency to go paperless. More and more companies realize the benefits of using digital alternatives and advertise this practice. As technological advancements provide better and more functional tools to implement into daily operations, the effects become more vivid.
Reduced costs and better workflow encouraged businesses to use paperless solutions more and more frequently, thus benefiting from implementing this choice. The more cases of successful digital implementation, the faster the development of innovative practices in this sphere.
In such circumstances, in the nearer future, operations within businesses will become almost entirely paperless. It will contribute to the increase in sustainable living, as the harmful effects of human activities will be mitigated, and the crucial issue of climate change will have better chances to be effectively dealt with.
