Digital signing can deliver significant cost savings. A piece of paper is inexpensive, but, consider how many pieces of paper an average business uses, files and stores away every year.
The number can reach millions, if not more, and when you calculate what you do with that piece of paper you soon realise that considerable savings could be made by switching to digital signatures and eliminating paper-based approvals.
Some organisations are already aware of the impact paper usage has on the environment and are working to reduce consumption, but when it comes to approving documents all too often page after page is printed to gather ink signatures.
Let’s look at a typical process. We are assuming that an average organisation produces around 10,000 documents a year and each is around ten pages, with three copies required for signatories:
Paper = £1,500
Printing / Photocopying = £6,000
Internal Delivery= £0
Postage = £4,500
Courier = £30,000
Fax= £3,600
Total= £45,600
But, that’s not all we need to take into account.
Many companies want records in their digital archives. It means scanning, storage and paper disposal. In our next blog on this topic, we will look at the associated costs and then compare these with what the average company spends on digital signatures.
Read more - Part 2: How digital signing delivers cost savings