The recovery will be digital

Paperless technology has seen a dramatic rise in demand and we all know why.  As we have worked and schooled remotely paper has had little use!  This is not to mention the fact that the dreaded virus can sit on a sheet of paper for up to 3 days. Oh and whilst we are looking at the downsides of paper let us not forget its cost & environment impact.

So how about some hard numbers to back up the anecdotal evidence. Foxit polled over 2,300 business leaders and employees and subsequent report found that the need for a paperless office process increased 67% and that almost half (42%) started reading more PDFs on their mobile devices.

We at Polestar have had to make many adaptations and thought it would be an idea to see what the rest of the world is up to. So here are some examples.

Like the rest of the world, Polestar has bandied around terms such as the “paperless office” for a while now; but the pandemic has made this a necessity. Due to offices being closed in the UK, most office workers were using their online platforms to work and share information with their colleagues.  Just look what has happened across all sectors.

The benefits of going paperless are also great for the partner’s pockets as well as the environment: lower costs, secure access, increased office space, workflow automation, and paperless statements.

Mckinsy’s “The recovery will be digital report” outlines simple ways that we and our businesses can digitise effectively, It also highlights that those do not will be left behind.

Their top 3 pointers:

1. establish a sustainable funding model to support the investments required to get business value from the cloud 

2. developing a new business-technology operating model that exploits cloud for speed, agility, and efficient scalability

3. put in place the HR, compensation, and location policies required to attract and retain the specialized engineering talent required to operate in the cloud

Organizations that digitised during the pandemic are going to be the ones seeing an advantage.

There are many cloud-based applications which facilitate the move to paperless which allow us create, save, and access information via the cloud, rather than relying on physical documents or an internal server. 

Now is the time to digitise, go paperless, and invest in our businesses. Utilise the technology available at your fingertips to make your business more efficient and technologically savvy. At Polestar, we have been going through this process ourselves. As for our clients, those that have made the move are attracting higher valuations in both fund raising and business sales.  The access to data simply fills the counter parties with trust.  What is not to like!

The COVID-19 crisis seemingly provides a sudden
glimpse into a future world, one in which digital
has become central to every interaction, forcing
both organizations and individuals further up the
adoption curve almost overnight.

By Richard Hall on 24/05/2021