Most small business owners never realize how much paperwork chaos hurts their business.
And paperwork chaos does hurt business results in three ways.
First, fighting the paperwork monster uses big chunks of the owner’s valuable time, seriously hurting productivity. Lacking time, the owner never gets around to working on strategy, analysis, and systems.
Second, paperwork chaos directly impacts the bookkeeping system. Bookkeeping is based on an orderly flow of paper. So long as the paperwork in the business is in a state of chaos, you can’t get control of the books.
Third, paperwork chaos hurts the business by affecting relationships with customers, suppliers, and partners such as banks.
When a customer calls with questions or needs help, you need to be able to quickly find that customer’s records.
If you can’t quickly find a customer’s paperwork, you can’t provide good service and support. You make a bad impression. Likely, the next time this customer needs something you sell, he’ll consider other alternatives before buying from you again.
You also need good customer paperwork to make sure you’re able to monitor and collect your accounts receivable. Without good paperwork, you may never collect money you’re owed. Bad controls over accounts receivable put a hurt on cash flow.
Paperwork is also critical for maintaining good vendor relationships. If you can’t quickly find a supplier’s paperwork, you may not be able to enforce your rights against that supplier if he fails to perform as agreed.
And if the supplier wrongly claims you owe him money, you’ll need your documentation of all transactions to dispute the claim.
So – control of paperwork is critical for all aspects of your business.
With current network technology and cloud computing, you can inexpensively install a paperless office system. And you can do it in 24 hours without buying expensive equipment and software.
You’ll save huge chunks of time. And you’ll quickly find the documents you need, when you need them. They’ll always be in the right place.
— Bottom Line
You’ve probably seen the UPS commercials about logistics.
UPS argues that small and mid-sized businesses don’t need a large warehouse, distribution center, or global network to access the new logistics. They just need UPS. UPS has already built the systems.
By tapping into those systems, you can operate your business with the heft of a big guy, no matter how big you actually are.
UPS is right!
Exactly the same logic applies to paperless office systems. The systems exist. And they are easily and inexpensively available to small and mid-sized businesses.
By going paperless, you free up huge chunks of time.
You can spend that time growing your business!
You can start working on your business, not in your business.
You can analyze your business so you know, for example, which 20% of your customers are generating 80% of your profits. Then focus your efforts where they produce the greatest results.
Your small business achieves big leverage.
You’ll be growing your business sales and income! And you’ll have less stress.