Three out of four small businesses are still wedded to paper, according to research by enterprise information management solutions provider M-Files Corporation and the Sage Small Business Panel.
More than three out of four (77%) UK businesses still store and manage paper records: 58% store data in a mix of paper and electronic formats, while 19% keep records in paper format only.
MFiles warns that with most companies using a mix of paper and electronic methods to store and access documents, employees waste a great deal of time trying to locate the information they need in filing cabinets, network file folders, email folders, file sharing and sync applications and different business systems.
Julian Cook, Director of UK Business, M-Files, said: “The transition from paper to electronic document management has not solved the issue of being able to quickly find the documents we need. All too often companies have just migrated their existing paper filing systems into digital form and as a result are still suffering from the same drags on productivity.”
Half the sample stated that its workforce needed access to electronic documents and information when working remotely on a laptop; 35.2% said they needed access to files from a mobile device.
The top three reasons given for storing documents in electronic form are to improve business processes and operational efficiency (83%), to reduce physical storage space (84%) and to reduce overall cost (50%).