Why shift to Dynamic PDF Stamps? We can name many reasons, but it’s really no contest when it comes to comparing manual to Dynamic PDF Stamps in the workplace. But rather than take our word for it, there’s some pretty staggering office-document statistics that speak for themselves in terms of why Dynamic PDF Stamps should already be part of your workflow process. And no doubt will be if you plan to stay in business in the future.
Before directly addressing the issue of business stamping, it’s best to provide some contextual info regarding document creation in the modern office.
Putting aside the environmental impact (which is sobering), here’s a couple startling statistics on which to chew:
- According to an oft-cited (nowhere-to-be-found) 1998 document management study by Coopers and Lybrand (now PricewaterhouseCoopers or PwC), there were over 4 trillion office documents in existence in U.S. offices at that time, with an estimated 880 billion new office documents created each year.
- More recently, in 2016, Statistics Brain (web-based community focused on statistics and analytics) estimated that U.S. office workers use an average of 10,000 sheets of copy paper each year.
If you consider there are roughly 55 million white collar workers in the U.S., according to the Bureau of Labor Statistics (BLS), at 10,000 documents annually per worker, you get to 550 billion documents. So, it’s safe to assume there are somewhere between 550 to 880 billion documents created each year.
As we said, pretty startling statistics.
Fact is there’s really no need to resort to hyperbole in the matter – taken collectively, these facts support the notion that there’s a boatload of paper documents created each day in offices across the U.S. Equating to a real need for automation and paperless solutions…but that’s an issue for another day!
Lots of Stamping
Keeping in mind the aforementioned, let’s pivot to our primary focus of manual stamping in the workplace.
For the sake of argument, let’s assume a range of 600 to 880 billion paper documents created in U.S. offices annually. Let’s further assume that just 1-percent get stamped for whatever reason. That equates to 6 to 8.8 billion stamped documents annually, or 24 to 35.2 million done daily. Even at just one document stamped in every 100 produced, that’s an astronomical number.
Further haircut, even if you split that in half (0.5 percent or 0.005 – 1 document stamped in every 200 produced), you still have 3 to 4.4 billion documents stamped annually, equating to 12 to 17.6 million each day. That’s lots of stamping,
Manual – Too Much Risk to the Workflow Process
What’s the takeaway of all this? Well, no matter how you slice it, be it 12 million to as much as 35 million (or more) each day, businesses stamp a lot of documents – far more than the typical office worker, manager, director of operations, or owner probably realize.
It goes without saying that business stamps are important – the sheer number of documents stamped each day is proof positive. Given their importance, and the number of stamps applied daily, there’s no way it makes sense for a company to justify, or risk, continuing to rely on manual stamps (manual processes of any sort, for that matter) as part of their workflow process.
If that’s not proof enough that the age of the manual business stamp should now be in our rear-view mirror
we must also factor in the issues of lost and/or misfiled items, and the time and cost to replicate or retrieve them. The same Coopers and Lybrand document management study found the following:
- Companies spend an estimated $20 in labor to file a document, $120 in labor to find a misfiled document, and $220 in labor to reproduce a lost document
- 7.5 percent of all documents get lost and 3 percent of the remainder get misfiled
These estimates point out the inherent vulnerability and risk to companies in relying on paper documents to begin with – one (1) in 10 documents that are produced end up being problematic and exorbitantly costlier to a business. Having to track down and reproduce stamped documents for any reason (e.g.- audits, legal matters, order issues, invoice tracking, and more) would add immeasurably to the time and costs incurred.
Dynamic PDF Stamps – The Way Forward
Keep in mind we haven’t addressed many other big-ticket issues that are forcing business to switch to Dynamic PDF Stamps from regular rubber stamps, such as the ever-increasing automation movement.
As more and more companies migrate to automated processes in their workflow, they are requiring that the companies they do business with comply. One prevalent example to emerge as of recent is the automated invoicing requirement (no paper invoices sent or received) of the vendors, contractors and others they do business with. Businesses wishing to continue relationships with such companies are being forced to switch from manual to electronic stamps. This movement will continue to accelerate going forward.
Whatever your business type or size, chances are you’re creating a lot of documents annually. If the majority produced are paper documents, it’s safe to assume your operating efficiency is less than what it should or could be. And if you’re manually stamping documents, your efficiency is further impacted to the downside, which hits the bottom line even harder.
Dynamic PDF Stamps are the way forward for all businesses, so it’s best to embrace them and begin to integrate them into your workflow processes, sooner rather than later.
Contact us today to learn more about how our customizable Dynamic PDF Stamp solutions can help you automate your processes and drive down costs.