The relationship between the demand for paper, deforestation, and its adverse effects on the environment are all well documented. In fact, we’ve summarized the issues here and outlined how digital transformation can help as a general matter. In response, some of our readers asked us to provide examples of digital transformation initiatives that can reduce paper usage. We’re happy to oblige. So here are three specific business process automation solutions that are poised to help businesses shift towards a model with a healthier relationship to paper and forests.
Online Payments:
Online billing and presentment solutions such as these are already making a significant impact on reducing our planet’s reliance on paper. Invoices can be rendered and transmitted digitally. Payments can be made online through customer interfaces. Confirmation of payee solutions can smooth the process by discouraging and reducing, if not entirely eliminating, fraudulent transaction. But this is just the beginning. Eliminating paper billing and payments also eliminates the need for envelopes and postage. And all of this can apply not only to intra-national business transaction but also global transactions involving multiple currencies and even multiple payment formats.
Digital/Electronic Signature Platforms:
E-signature platforms are taking the business and consumer world by storm, with a current market size of $3.4 billion and growth expected to reach $5.5 billion by 2023. Eliminating the need to print and copy multiple execution copies of agreements, digital signature platforms are transforming the need for paper print-outs, not to mention revolutionizing where and when business can be transacted. DrySign is a state-of-the-art digital signing platform which aims to help businesses make document execution a paperless process.
Document Digitization Solutions:
Underlying all other digital transformation initiatives are the various digitization solutions that ingest business information in all forms imaginable and transform them into digitized, searchable, analyzable data. As a global Business Process Automation (BPA) leader, Exela offers a wide variety of solutions that piggyback off of document digitization. For more information on that, check out our extensive list of solutions.
The push for paperless is only going to grow as digital transformation forces businesses to move away from redundant paper-based processes in search of technologies that help them save costs or gain more competitive advantages. Want to understand how your business can leverage the cutting-edge Business Process Automation solutions Exela has to offer? Call us at 1-844-XELATEC or contact us here.
