3 Reasons Going Paperless Benefits Your Business

Business owners often look everywhere imaginable to cut costs, save time and streamline operations. One of the greatest ways to do this is to go paperless. The benefits of moving toward a paperless business may surprise you as they stretch beyond environmental impact!

Aside from cleaning up paper clutter and receiving less mail, here are more benefits offered by going paperless:

1. Access Everything Easily

Paperless business systems make it much easier to locate documents. When a customer inquires about a detail on his invoice, you do not have to go sifting through file drawers or a box full of crumpled up documents. If you use a cloud-based system for filing, you can simply access data from any device (with an internet connection, of course). You can also update your books anywhere you choose if you use an online accounting system.

2. Receive Payments Faster

Rather than sending paper invoices for services or credit issued to clients, you can send electronic invoices instead, which could expedite payment. This also saves you supplies costs because you will use up less paper, envelopes and postage.

3. Streamline Business Owner Details

Taxes are inevitable. Regardless of the business you run, you owe Uncle Sam taxes – and if you have employees you owe him even more!

A paperless option that simplifies your tax paying responsibilities is the Electronic Federal Tax Payment System (EFTPS), which streamlines your tax payments, enables you to access payment history and it’s FREE.

You can also find digital alternatives to other responsibilities as a business owner, such as accounting programs. No more fumbling with piles of crumpled receipts for the end of the year. Instead, take a photo of each receipt, enter each transaction into a document (either on a file you create or into your online accounting program) and everything will be much easier to access once the time comes.