Property management companies handle a massive amount of documents and files each day. What would happen if those paper records are destroyed by flood or fire? Unimaginable. Thankfully, PMI of Greater Boston uses a property management software that allows us to not only transform our workspace into a paperless office, but also help us save money, reduce clutter, and be more efficient. In this article, we will enumerate eight benefits of going paperless.
Benefits of Going Paperless
1. More Environment Friendly
Reducing paper usage means less trees cut down, less carbon footprint, and less energy consumed. A single tree can only produce 17 reams of paper but requires several years to grow. And as we all know, trees absorb carbon dioxide which leads to less greenhouse gasses released into the atmosphere. The average tree can absorb a ton of carbon dioxide in its lifetime. So going paperless is definitely good for the environment!
2. Easy Document Access for All Parties
We use a property management software that efficiently stores, distributes, and protects documents. Everything is online and easily accessible. All concerned parties can access it anytime, anywhere. No need to shuffle through paperwork or voluminous documents. This leads to a worry-free, efficient, and more productive workplace.
3. More Organized
Other property managers can spend hours sifting through paperwork, filing, and sending information to residents, vendors, contractors, and colleagues. That time could instead be spent on more important matters such as filling vacancies and keeping property owners and residents happy. PMI of Greater Boston uses a computer software that keeps data and information organized in electronic folders. No file cabinets nor piles of paper crowding office desks.
4. Safe and Secure Storage
Sensitive information like client addresses and payment information are safe from break-ins, floods, and fire. We use an online software with a bank-grade security system to ensure that your data is safe and secured.
5. Automatic Backup
If you accidentally throw out a paper document, you are saying goodbye to that piece of information forever. On the other hand, the system that we use allows online backups that ensure documents are stored in various locations, making it less likely to accidentally lose important information.
6. Less Time Spent on Dispute Resolution
Managing rent payments online creates a digital paper trail. When an individual claims to have made a payment, you can check the system to verify or disapprove the claim, saving you time, money, and resources.
7. Improved Customer Service
As the time spent chasing down missed rent checks diminishes, you’ll have more time to build better relationships with owners and residents and attend to their needs. Additionally, you can send and sign a lease agreement through the platform. Simply put, you can take care of business anytime, anywhere.
8. Economic Savings
Going paperless not only saves the environment but also saves companies a considerable amount of money. Automating business processes and transitioning to eco-friendly workflow solutions allow companies to save hundreds or thousands of dollars every year.
Although the cost of a single piece of paper is nothing compared to a computer or similar device, paper costs will add up quickly over a prolonged period of time. According to a survey by the US Environmental Protection Agency, an average business employee consumes about 10,000 pieces of paper every year. That translates to about $1,000 per year on just paper alone or about $10,000 for a company with 10 employees.
The benefits of going paperless allow PMI of Greater Boston to be more efficient, productive, and able to provide a better overall experience for all our clients. For your property management needs, contact PMI of Greater Boston today.