Companies these days have the option to go paperless or stick to paper-based meetings. Since meetings discuss important decisions, companies tend to rely on their tried-and-tested ways to make sure that they can actually reach a conclusion.
However, paper-based meetings are proving themselves to be the weaker choice compared to their paperless counterpart.
Paper-based meetings cost more because of paper. The printing cost, the filing cost and the cost of paper itself are expensive factors. On the other hand, paperless meetings require a digital device and internet.
These factors don’t cost as much because they can be reused until a new one is needed. If paperless-meetings cost less, then why are companies still doing paper-based meetings?
As companies get bigger, they end up with bigger responsibilities and decisions. Such shift may force a company to be wary of its tried-and-tested methods. These methods provide a comfort zone that gives companies a sense of stability, but this blind devotion for stability blocks out all possible innovation that technology provides.
This includes changing to paperless meetings. Since meetings are important, companies won’t risk changing the paradigm that might hinder their decision-making process.
However, if paper-based meetings continue, companies may face these business limiting factors;
Reaching the physical limit
With the advent of the internet, speed and accessibility became the major players in the business field. Remote access gives users access to their data even if they’re not in the office. As long as they have internet, users can easily open their files wherever and whenever.
Companies who stick to paper-based meetings won’t be able to compete in this fast-paced world because paper doesn’t provide any modern technological advantage.
Board portals, such as Azeus Convene, help companies in accessing their online files instantly and conducting interactive meetings without the use of paper. If companies still insist on doing paper-based meetings, then they wouldn’t see the benefits of board portals.
High cost, low return
Paper-based meetings require each participant to have a copy of the meeting’s documents. This means that every time there’s a meeting, a heavy load of printouts are produced. Another set of problem comes in the form of lost documents and printing errors.
CEOImage.com categorized paper-based costs into maintenance costs and filing costs. Maintenance costs are the costs of retrieving papers from offsite archives and replacing lost documents. Filing costs are the costs in maintaining storage devices such as filing cabinets. This means companies and their employees are spending more time dealing with paperwork instead of doing actual work.
In a way, paper can be compared to old machinery. The more you cling to it, the more expensive it gets to maintain it.
Great power comes with great responsibility
Nielsen.com stated that three out of five Australians pick companies who have a clear goal in going green. The study shows that companies who give strong emphasis on going green are deemed as passionate and responsible and are more likely to be supported by its consumers.
Reduced carbon footprint is a byproduct of a company’s choice to go paperless. Companies who stick to paper-based meetings won’t be able to reduce their carbon footprint and will be considered by customers as irresponsible.
Break out of your comfort zone and embrace innovation
Paper is becoming more of a hindrance because of its cost, production and limitations. The more we use paper, the more we compromise efficiency.
Going with paperless may sound like a big leap of faith, but because of the negative effects of paper, companies should invest in the future rather than stay in their comfort zone.
The future is with Azeus Convene, so give us a shot. Try out your first board portal meeting and see the innovation new technology provides.