Cutting costs can be as simple as banishing processes that thwart productivity. Whether you work in a paperless office or not, a good place to start is to eliminate manual stamping and start using customizable PDF stamps. Doing so will save you more than you think.
Fans of the movie “Office Space” will understand the “Bobs” reference. For those not familiar, the Bobs were a tandem of workplace consultants brought in to reengineer offices, with a view towards cuttings costs. They reveled in their work, while all around were nervous that they would end up on the Bobs’ list of people or things to be cut.
Truth is, whatever role or type company we work in – sole proprietor, manager in a small company or director in a multinational enterprise – most of us are not at all comfortable with the notion of cost cutting…unless we are a Bob.
The problem with cost cutting for most people is the fact we tend to view it as an exercise, first and foremost, in taking things away. At one end of the spectrum, there are draconian measures, such as layoffs or reduction of hours, while at the other end, there’s things such as shortened breaks, the elimination of perks, canceling the holiday parties, etc.
Rather than starting with a focus of taking things away, a better solution would be to concentrate on eliminating processes that cost more than you need to be paying and almost certainly act as a drain on productivity. One of the best places to start (but often overlooked) is the process of manually stamping documents in your workplace.
Most companies, small or large, use stamps for all sorts of reasons. Be it invoices or bills (accounts payable), customer or vendor checks (accounts payable), legal notices, and more, one of the first processes undertaken is to note receipt. And one of the most common methods for doing so is to stamp the document, “received.” And there’s certainly myriad situations and scenarios where documents requiring other types of stamps (e.g.-paid, completed, final, rejected) must be attended to during the normal course of business.
Small Things Add Up
It’s a sure bet most haven’t stopped to think about the time and cost associated with stamping documents in our workplace. And why would we, given that it takes mere seconds to complete the action, right?
Well, you’d probably be surprised to find out how much time actually goes into the manual process of stamping the typical document. And even more so when you start to add up the cost accrued in a day, week, month and year.
To gain perspective on this, it’s worth making some assumptions and extrapolations:
- There are two parts to the process – intake and completion
- Intake – receive paper or electronic document from mail, email, system depository, etc. Perform quick scan to determine type of document, where to route or action to perform. Print all electronic documents that will require stamping. Estimated time necessary per document – 90 seconds
- Completion – manually apply appropriate stamp to paper document and scan to file. Estimated time necessary per document – 90 seconds.
- Total time necessary for manual application of stamp – 3 minutes (180 seconds) per document
- Total time necessary for stamping documents utilizing customizable PDF stamps – 1 minute per document (generally less, but safe assumption)
|Number of Manual Stamps Completed Each Day|
|Intake: Retrieve and/or Print Docs (minutes)||2||8||15||23||30|
|Completion: Stamp and Scan Document (minutes)||2||8||15||23||30|
|Total – Day (minutes)||3||15||30||45||60|
|Total – Week (minutes)||15||75||150||225||300|
|Total – Month/21 days (minutes)||63||315||630||945||1,260|
|Total – Year/252 days (minutes)||756||3,780||7,560||11,340||15,120|
|Yearly Hours – Manual Stamping Process||13||63||126||189||252|
Real Opportunity for Savings with Customizable PDF Stamps
When you start to break it down, suddenly it becomes clear that if you’re manually stamping more than a mere handful of documents each day, you’re wasting dollars. At just 10 stamped documents per day, you’re looking at more than 3 weeks’ worth of work each year. For an employee making $15 per hour (approximately $30k annually), your cost to manually stamp docs (10 per day) is nearly $1,900 each year.
The same employee completing exactly the same work (10 stamps daily), utilizing a customizable PDF Stamp, would cost you a third of that amount, or approximately $630.
Extrapolating that out just a bit more, for an employee tasked with stamping a couple documents per hour (total of 15 per day), you’re looking at roughly 5 weeks’ worth of work each year. That same $15 p/h employee will cost you more than $2,800 annually when it comes to stamping those 15 documents daily. The same employee completing exactly the same work, utilizing a customizable PDF stamp, would cost you a third of that amount, or approximately $945.
Now we start to see the real opportunity for savings. Keep in mind, 10 to 15 documents requiring stamping each day is not much at all, depending upon the type of business.
And there’s the added benefit of increased productivity. Using customizable PDF stamps versus manual stamps reduces the time necessary for the process by 2/3rds. Instead of wasted dollars performing the exact same process (e.g.- 10 to 15 stamped documents per day), the time saved can be utilized performing additional productive work, which further leverages the overall cost savings considerably.
And you don’t have to switch to the cheap coffee or eliminate bathroom breaks to drive down costs and achieve such savings…
Contact us today to learn more about how our customizable PDF Stamp solutions can help you automate your processes and drive down costs.