Does the implementation of an electronic workflow for a company always pay off? Will it save money in every company to replace paper documents with electronic ones? Today we answer the questions swirling in the minds of decision-makers at many companies who are considering implementing an electronic document workflow.

What are the savings from using electronic documents in place of paper ones?

Do you know how much it is costing you (or actually your company) to use paper documents? You’d probably think not much – after all, the ink, paper and electricity needed to print a contract can’t cost a fortune. But have you ever written down all the extra costs your company incurs in the process of creating, coordinating, reviewing and approving documents? If not, consider how much it costs:

• Time – after all, the traditional workflow is hours spent on emailing files, downloading and saving them, coordinating, merging the versions created in the creation process, printing and retrieving documents. This is time that has to be paid for, and let’s not forget that the creation and approval of contracts are processes that most often involve qualified professionals, directors and people in managerial positions, i.e. those whose working hours are extremely valuable.
• Maintaining the printer – servicing, replacement parts, operation.
• The courier who delivers the contract to the contractor.

The above amounts are not difficult to calculate, but there is something else that does not have a price tag, and which must be taken care of, especially now, in the era of the prevailing COVID-19 epidemic – health. How do companies that still use paper documents currently function? Employees and management take turns going to the office and signing documents so as to avoid a face-to-face meeting. Such a solution, although it gives the appearance of taking full precautions, is not 100% safe. Why, then, risk your health and, at the same time, that of your loved ones, when most things can be done online without leaving home?

Often when analyzing the costs of traditional workflow, we do not take into account the above extremely important and costly aspects. This is a mistake!

In this case, how to save paper, time and money? When does the implementation of electronic document workflow pay off? If your company processes up to 5 contracts per month, you can stay with paper without worry. If there are 10 or more documents per month, electronic workflow will bring real savings. Let’s get down to specifics – we have prepared for you some figures comparing traditional and electronic workflows that will best illustrate this.

• TRADITIONAL: The cost of reprocessing one contract takes an average of 58.5 hours, which translates into nearly PLN 7350 in employee costs. In addition to this amount, 325 PLN should be added – this is the average measurable cost of a contract (i.e. the aforementioned printing, scanning, coordination or courier shipping. This means that one contract in the traditional workflow will cost… more than 7675 PLN! Each subsequent agreement will cost the same.
• ELECTRONIC: The time it takes to process an electronic agreement is only 4.5 hours, and the cost drops to PLN 550 per agreement. The cost of a workflow software license varies between PLN 30,000 – 45,000 per year. This means that in the case of generating 10 contracts per month, one will cost between 300 and 460 zlotys.
• TRADITIONAL: If your company generates 10 contracts per month, their cost will be about 70,000 PLN. Annually, this translates into a cost of nearly PLN 850,000.
• ELECTRONIC: If your company generates 10 contracts per month, their cost will be about 3500 PLN. On an annual basis – 41 thousand zlotys .

Implementation of an electronic document system to the company will generate real savings. It’s not just money that will stay in your account each year. It is also the recovered time of managers and directors, which can be allocated to activities that bring regular revenue to the company. It’s valuable hours that you can use to process more contracts and documents and prepare additional tenders – all of which also translate into real profits for the company.

Savings are not just about money

Money is important – the smooth and stable operation of any company depends on it. Amounts are the easiest to calculate, and numbers work the most on the imagination. However, the zlotys in the account are not everything. Implementing an electronic workflow into the company will also bring other savings that are a little more difficult to measure.

Valuable time

Of course, time is money, and time saved is money saved – we proved this in the first paragraph. Financial aspects aside, however, the time saved is a huge relief for both employees and management. If employees don’t have to deal with creating endlessly dragging email correspondence, operating the printer (which often won’t cooperate) and running around the company looking for authorized signers, they can focus on their proper duties. Time doesn’t slip through their fingers, and they are more focused and productive. Management, on the other hand, instead of putting their initials on dozens of pages of contracts, can put their signatures with a few clicks on their phone.

Unnecessary nerves

Only one who has wrestled with an age-old printer in a hurry knows how much nerves it costs. Only he who has had to glue together a final sales proposal from a dozen files prepared by different people knows how stressful this task is. And finally, only he who, having many more important things on his mind, had to initial dozens of pages of a contract, knows best how frustrating it is. With an electronic workflow, everything becomes easier – you don’t have to fight with the equipment, the final versions create themselves, because everyone works on the same file, and you can sign the contract with one click. Remember – easier work means calmer employees, and calmer employees mean more efficient and productive employees.

Implementing solutions that bring tangible savings to your company is extremely important – especially today, when we can’t predict how the prevailing pandemic will affect the global economy. If you want to learn more about a system that will save you money, time and unnecessary nerves, contact us.