Received. Recorded. Paid. Approved. Rejected. Date/Time. Duplicate. Confidential. Urgent. Complete. Filed. Final Notice. Document #. Page #. If you just guessed “common messages stamped on documents” in a paper-based versus paperless office environment, you’re correct. Chances are you’ve probably worked in an accounts payable department, a legal or medical office, or any other number of settings where repetitive stamping is the norm.
And it’s a safe bet that if your office hasn’t engaged in workplace automation and doesn’t utilize a more modern solution, such as customized dynamic PDF stamps, instead opting to continue using rubber, Bates or other forms of manual stamps as part of their everyday processes, then you are probably very familiar with the frustration that goes with their usage.
Beyond mere frustration, there are serious issues that should be considered by any company that still utilizes manual stamps as part of their everyday processes.
PDF Stamps Eliminate Manual Processes – The Silent Killers That Drive Increased Workplace Costs
Manual Process Created Logjams
In any type of business, the simplest, most direct process generally works best. Business stamps certainly fit that category, having long been used to mark, index or notate routine activities, functions, proceedings or transactions, such as the receipt of a document or filing, approval of a request or the payment of an invoice. And they are routinely used to communicate status, condition or instruction to others involved in a process, such as duplicate, urgent, confidential or complete.
Depending upon the type and size of an office, there can easily be dozens to hundreds, even thousands, of daily instances requiring the use of a stamp. Quite often the process cannot or simply won’t continue until the appropriate stamp is applied – documents have to rerouted, re-entered or refiled before the process can continue. A missing or incorrectly stamped document can cause delays and wreak serious havoc on the process timeline.
Sound Like an Overblown Issue?
Consider the fact that 52-percent of respondents to a survey on improving AP operations in the workplace claimed that the biggest barrier to success in their office was the over reliance on people and paper-based processes, according to Charlotte, N.C.-based business management consultant PayStream Advisors. The respondents were frustrated, believing they were held back in their work due to manual process-associated delays, such as waiting for another person to stamp and route the document so that they could begin their work.
PDF Stamps Eliminate Manual Stamping
How much can something so mundane as stamping a document really affect a company’s processes and bottom line? Fact is that every action in a process has a cost in terms of time and impact. The more manual steps or stages in a process, the more hands that touch the document, resulting in higher costs. And the likelihood for added errors, further exacerbating the issue and driving increased costs all the more.
Case in point, the Institute of Management and Administration’s (IOMA) AP Department Benchmarks and Analysis 2010 Report, states, “The cost to a business processing an invoice in an environment with a low level of automation can be up to 20-times greater than the cost of processing in an environment with a high level of automation.”
It’s a BIG Issue
20 X greater cost.
And keep in mind that finding is primarily focused in the area of accounts payable. Extrapolate that across most other departments and business functions in a company where stamping and other manual processes are the norm and the issue can be magnified exponentially.
Given the scope of the problem and its impact on the bottom line, it’s easy to discern what led Cisco CEO John Chambers to warn that by 2025, 70 percent of companies will attempt to go digital.
Unfortunately, many will have continued to squander dollars and opportunities in the interim by not focusing on automating and eliminating the silent killers in their operations – manual processes, such as repetitive manual stamping.
The failure to address the issue sooner than later will have dire consequences for a large percentage of businesses. Chambers’ predicts that only 30-percent will succeed. The remaining 40-percent will succumb to self-inflicted wounds and simply cease to exist in less than a decade.
A BIG Issue and a major problem for any business, indeed….
Contact us today to learn more about how our customizable PDF Stamp solutions can help you automate your processes and drive down costs.
Categories: Digital Stamps