Going digital is in vogue these days and we've talked about how to transition to a paperless office. But it appears Australian small businesses still have a love affair with paper invoices and receipts, according to a survey by cloud accounting vendor Xero.
Paper on fire picture from Shutterstock
In a survey of 402 Australian small businesses, Xero found 65.2 per cent of respondents store at least some of their printed invoices in boxes. Roughly 28.9 per cent store all of their receipts in paper form. It's predominantly the older businesses, and we're talking those that have been in operation for over a decade, that are stuck on paper (40.2 per cent) .
It's not cheap to keep paper. Around 12.7 per cent of respondents admitting that they spend more than $1000 per week on paper administration costs. That encompasses printer ink, paper and storage. About three per cent spend over $5000. That doesn't even include cost of man hours spent managing and process all the paper.
If you don't care about the cost of dealing with paper, at least think of the environment. If you're considering going paperless for your small business you can find more advice on this topic here.