Annual printing expenses: a significant impact
Every employee prints an average of 5,750 pages every single year. At an average cost of 6 cents per printed page, this results in an annual expense of 345€ per employee. In addition to the printing costs, there are often additional fees for postal delivery, further adding to the overall expenses. These fees vary depending on the size and weight of the document and the distance it needs to be delivered. Moreover, the need for physical archiving of paper documents – first of all contracts – requires dedicated storage space. Over time, as the number of paper accumulates, the demand for physical storage grows, leading to additional costs for businesses. This not only consumes valuable office space but also necessitates the implementation of proper archival systems to ensure easy access and retrieval of documents when needed.
Wet ink signatures – the last show stopper for digitization?
Despite the advancements in the digital world, printing documents remains a crucial aspect of daily work life. In many B2B environments, the only reason for not going fully paperless and still printing documents is the necessity for handwritten signatures. However, with the advancements in technology, this costly and time-consuming practice can easily be avoided by implementing electronic signatures, also known as e-signatures. E-signatures provide a secure and legally binding alternative to handwritten signatures, enabling businesses to streamline their processes, reduce paper usage, and eliminate the expenses associated with printing, scanning, and storing physical documents. By adopting e-signatures, enterprises can not only enhance efficiency but also contribute to a more environmentally friendly and sustainable business approach.
Substantial savings with e-signatures
The average contract in many industries may typically consist of around 20 pages, resulting in significant printing costs at the standard rate of 6 cents per page. For instance, a single contract would cost approximately €1.20 (€0.06 per page). However, the implementation of e-signatures can lead to substantial savings in this aspect. With e-signatures, the entire contract can be electronically signed and processed, significantly reducing the expenses to a mere €0.02 per full document no matter the number of pages.(as a basis for comparison, we have used our best-selling SME plan from TRUST2GO with up to 50 users.) By adopting e-signature solutions, businesses can achieve a cost reduction to a good fiftieth making the process highly attractive.
Paperless contracts: a crucial building block of modern process rationalization
Obviously, electronic documents also incur storage costs, and there are backup and restore and security issues to be governed. Again, there is a similar cost advantage compared to the analogue world.
Transitioning to the paperless office, particularly using e-signatures, can help mitigate these issues. In conclusion, e-signatures clearly outpace paper in terms of cost efficiency, convenience and quickness. The significant savings from reduced printing, postal fees, and physical storage make e-signatures the smarter and more sustainable choice for businesses. Their streamlined process and enhanced productivity further solidify their position as the clear winner in the race against paper-based methods.