Don’t Fear the Paper Tiger: Paperless is Easier than You Think with Encryption
Every year, more than 500 billion bills are sent to customers and that doesn’t even include monthly and quarterly statements for financial and health-related matters. Now, just imagine going to the post office and buying stamps for all those bills and statements.
Many organizations don’t have to imagine the high cost of postage because their processes and systems that depend on paper transactions make this a reality.
But going completely paperless is more complicated than just flipping a switch and turning on a computer – you need a secure environment for your digital documents. When an organization goes paperless, they enter a world of complex privacy regulations, like the EU’s General Data Protection Regulation (GDPR), where non-compliance can trigger massive sharp-toothed fines. This is where having a comprehensive encryption strategy can help – and even plays to an organization’s advantage.
Here’s how you can leverage an encryption solution to go paperless, accelerate your digital transformation and achieve real business value:
The advantages of going paperless
Going paperless saves money – but only when digital documents are sent securely. A recent Total Economic Impact™ (TEI) study conducted by Forrester, for example, suggests that enterprises using OneWorld encryption accelerate the digital transition of their mail delivery by ten percent. Given the average $1 cost-per-page associated with traditional mail, a typical enterprise-level organization using OneWorld can save $1.5M over three years.
Other advantages of going paperless include increased user satisfaction, streamlined processes and easing the burden of compliance with privacy regulations such as the GDPR.
Why organizations are reluctant to go paperless
Going paperless by adopting secure digital document delivery is a significant project that requires time, money, specialized expertise, the capability to integrate legacy data and systems and, sometimes, a change to current processes in how responses are sent and processed. Organizations with already-stretched IT resources are reluctant to take on a paperless project when it’s seen as a cost-driver, instead of a cost-savings initiative.
Paperless communications necessitate secure digital communication which means encryption. Expenses associated with an on-premise encryption solution include physical servers, maintenance staff and customer support resources. These legacy costs can be slashed during a paperless project. For example, by integrating the OneWorld encryption solution, a typical enterprise-level organization mitigates these upkeep costs–and saves about $795K over three years.
This reluctance to go paperless is based on fear of complexity, effort and security concerns – not facts. In an increasingly competitive marketplace, where digital transformation—including going paperless—is no longer optional for sustainable businesses, and is increasingly becoming a competitive edge with your customers.
Pain-free paperless use case: upgrading a legacy system
Enterprises might be unable to increase their paperless efforts on account of existing on-premise legacy encryption technology being unable to handle additional loads. But, on account of this existing outdated messaging infrastructure, even if the ROI of going paperless is intriguing, they may wonder how painful the project will be. It doesn’t have to be difficult if they pursue the right solution and work with the right people.
Going paperless helps businesses streamline processes, reduce resources and save money. The recent Forrester study, done on behalf of Echoworx, found a strong ROI for implementing the OneWorld encryption solution and a payback period of only about seven months.
We hope this encryption ROI research helps you put the Paper Tiger in its rightful place.
The Echoworx difference
At Echoworx, encryption is all we do. Our OneWorld encryption platform is a natural extension for most existing systems and offers a wide range of flexible, adaptable and dependable encryption delivery methods for use at enterprise-level corporations.
Learn more about the ROI of Echoworx OneWorld encryption here.