Paperless systems 'can save money'

News Article - Monday, July 14, 2008

filed under: Business

Installing accounting software and other electronic business tools can help firms to cut their costs, new research claims.

A study commissioned by document management firm Invu and conducted by YouGov has found small and medium-sized enterprises (SMEs) in the UK lose approximately £42 million a day trying to find missing or misfiled paper documents.

Per business, the figure equates to one hours a day spent trying to relocate the information.

According to the survey, just seven per cent of SMEs have 91 per cent or more of their documents saved electronically.

George Derbyshire, chief executive of the National Federation of Enterprise Agencies (NFEA), says: "This research is quite frightening and is an example of how everyday inefficiencies can have a very damaging effect on small businesses."

Meanwhile, a recent poll by information provider CCH reveals SMEs are getting the message, with 79 per cent stating they have implemented at least some aspects of a paperless office system.

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