Why you should adopt a paperless policy management system

In the U.S. alone, businesses use 12.1 trillion sheets of paper a year. That paper consumption has a significant impact on the environment in several different ways.

Deforestation

According to Conservatree, it takes about 24 trees to make a ton of paper.

One tree can produce about 8,333.33 sheets of paper. With the average paper use described above, that means each employee consumes roughly 1.2 trees worth of paper every year.

While that may not seem like much, it takes a toll.

According to Forest Ethics, more than 40% of the world’s industrial logging goes into making paper. Logging contributes to deforestation, which drives climate change and destroys the habitats of many different animals.

Paperless policy management can drastically reduce your company’s paper use.

PowerDMS customers have saved more than 833 million sheets of paper – that’s over 100,000 trees.

Landfill waste

Office paper use creates a lot of waste. It’s estimated that 45% of the paper used in offices ends up in the trash before the end of the day. And much of that paper ends up in landfills.

Statistics show that paper accounts for anywhere from 16 to 25% of landfill waste and roughly 33% of municipal solid waste.

Recycling can help reduce these numbers, but recycling can be expensive, and it comes with its own environmental impact.

It’s far better to reduce the amount of paper you use than to recycle huge amounts of paper.

Pollution

Of course, the impact of paper and printing isn’t just about tree use and waste creation. The process of manufacturing paper and printing supplies impacts the environment, as well.

In 2015, the paper industry contributed 20% of the releases of toxic chemicals into the air in the U.S.

Printer ink and technology also contributes to pollution.

Ink cartridges often include harmful chemicals that can pollute soil and water if they end up in a landfill.

That’s not to mention the resources used and emissions released during the manufacturing process.

With paperless policy management, your company will use less paper and printing supplies, therefore reducing your environmental impact.

Paperless policy management benefits the environment, and it can also benefit your organization.

Document management software such as PowerDMS simplifies the process of creating, updating, and filing documents.

It cuts costs and reduces the time and energy required to effectively manage policies and other important documents.

Here are just a few of the ways paperless policy management software can benefit your organization:

Go paperless

Paper-based document management systems come with a lot of risks and hassles. Statistics show that around 3% of company documents get misfiled, and 7% go missing.

Paper documents can also easily get damaged or destroyed.

A catastrophic event such as a fire or flood is hard to recover from in any case. But if all your company’s documents and records are paper-based, such an event could cause your organization to go under.

Paperless policy management, on the other hand, provides a central, secure location for all your organization’s documents.

With PowerDMS’s cloud storage, you can securely access documents by logging in from any device. Your important records are safe, even if something were to happen to your office space or computers.

Paperless policy management means less paper and printing. And, in turn, less waste and less harm to the environment.

Each PowerDMS customer saves an average of 325,000 pieces of paper by switching to paperless policy management software. That’s almost 40 trees per customer.

Save money

Along with being bad for the environment, printing is expensive.

According to The Paperless Project, U.S. companies spend more than $120 billion a year on printed forms, most of which are outdated within three months.

Along with the cost of paper, ink, and other printing supplies, paper file storage can also be expensive.

Experts estimate that a four-draw file cabinet takes up to 9 square feet of office space, which may add up to roughly $1,500 each year in rent.

Plus, companies that produce high volumes of paperwork may need to hire additional administrative personnel just to help maintain files.

Lost or misfiled documents can eat up valuable man hours. It’s estimated that every misfiled document costs $125, and a lost document can cost more than $350 in man hours to replace.

A paperless policy management may seem like a large investment up front, but it can save your organization thousands of dollars in the long run.

On average, PowerDMS customers have saved $9,775. All told, PowerDMS customers have saved almost $25 million in paper and printing costs alone.