We’re always glad when we read someone else talking about money and time lost on paper record-keeping.
Of course, we’re in the business of replacing paper time cards. But it’s also the truth: keeping paper records wastes time that could be spent on other things.
Scoop MAE, a Vancouver company that creates field data collection & collaboration software for improved safety monitoring on the job, estimates that processing 100 paper documents per month costs an extra $720 each 4-week period.
Time is money, and it takes time to record information, time to collect the information from whoever wrote it down, and time for someone else to read it.
This is not to mention the cost of the paper and pens or pencils and the gas money spent getting the paper to the right places.
By Scoop MAE’s estimations, the costs add up to almost $9000 per year, which could buy a lot of things, such as the down payment and monthly fees on a new vehicle.
The expense of the paper itself is small, and the rest is obviously just an estimate. But there’s no disputing that paper takes more processing time on both ends and creates more errors than digital information collection.
We think Scoop MAE has it right: “Who wouldn’t prefer paperless reporting?”