Is your financial department making the most of its money?
Finance departments are notorious for tightly managing budgets for other departments in the business, but increasingly technology correctly applied can saves cost in their department too. Our director, Steve Todd, explains in more detail what he’s noticing when talking to finance execs about their expectations of print and document management. Read Steve’s thoughts below, along with a short interview with the integral part of our finance team, Sheila O’Donoghue.
Recently, while in conversation with a number of financial directors, it came to my attention that many do not understand the full potential of a paper-lite business model. Putting ink on paper, both internally and externally, is a costly process, yet, many FDs see this as minimum spend when compared to large investments made by their companies.
In actual fact, the cost of paper and ink wastage to a business can add up, as well as the amount of time lost by employees when printing, searching for and filing documents. Surprisingly to most, the third largest expenditure for a company, after people and property, is print and documentation – so it’s not something to be taken lightly.
Many finance departments are happy with their current processes, not realising the full potential of more effective solutions on the market. A paper-lite approach not only reduces cost to the business but also improves security, a crucial aspect of GDPR.
After spending some time thinking about how to approach the paper-lite conversation, one which often falls on deaf ears, I decided to speak with our own finance department to give customers an insight into how Karlson adopts a paper-lite approach. Perhaps highlighting our own processes will help others see the potential a paper-lite business-model can have.
I sat down with Sheila O’Donoghue, Financial Accountant at Karlson, to discuss how we’ve implemented paper-lite technology into the finance department and the benefits of such processes. Click below to read more.
Steve Todd, Director
Sheila O’Donoghue, Financial Accountant
