Transform your business: Embrace digital forms for cost savings and efficiency

Updated November 2024

In today's fast-paced business environment, reliance on paper-based forms can hinder productivity and inflate operational costs. Transitioning to digital solutions not only streamlines processes but also significantly enhances your bottom line.

The hidden costs of paper-based forms

Consider a construction company that completes approximately 100 paper forms daily (for example: Site diaries, incident reports, inspections, audits, vehicle pre-starts, material requests, and timesheets). Each form can take an average of 45 minutes to generate, supply, complete, collect, manage, and administer.

This amounts to:

• 375 hours per week dedicated to form management
• 18,750 hours annually, equating to $1.4 million per year at an average employee cost of $75/hour
• Additional expenses for stationery and physical storage can increase this figure by 10% or more

Unlocking savings with digital solutions

Implementing a digital system like finao revolutionises your operations. Digital forms can reduce completion time to an average of 10 minutes per form, resulting in:

• Time Savings: A reduction of 28,125 annual hours spent on form management
• Cost Savings: A new annual cost of $312,500 compared to $1.4 million - Saving over $1.1 million per year
• With an annual finao system investment of say $100k, your net savings are significant

Tangible benefits

• Reduced costs: Save on labour, stationery, printing, and storage expenses
• Time efficiency: Free up valuable staff hours for higher-priority tasks
• Improved accuracy: Eliminate errors caused by illegible handwriting or manual data entry
• Faster decision making: Access real-time data and reports
• Scalability: Adapt easily to increased workloads or expanding operations

Intangible benefits

• Enhanced employee satisfaction: Reduce tedious paperwork, allowing staff to focus on meaningful work
• Better customer service: Faster turnaround times lead to happier clients
• Environmental impact: Reduce paper usage, contributing to sustainability goals
• Regulatory confidence: Maintain compliance with up-to-date, easily accessible records
• Brand reputation: Demonstrate innovation and a commitment to modernisation

Beyond savings: Enhancing business efficiency

Adopting digital forms provides:

• User-friendly interfaces: Simplify form completion and management through existing devices
• Automated workflows: Streamline operations and minimise manual intervention
• Secure and scalable cloud storage: Safeguard your data while enabling remote access
• Regulatory compliance: Manage inductions, certifications and other mandatory requirements effortlessly

Tailored solutions for your business

finao offers a range of ready-to-use forms and modules, as well as bespoke solutions tailored to your industry needs. Our systems integrate seamlessly with existing platforms such as Azure AD, MYOB, Xero, SAP, Oracle, Maximo, and more, ensuring a smooth transition to digital operations.

Take the next step towards efficiency

Unlock tangible and intangible benefits by transitioning to digital forms. Contact us today to explore how finao can help you save money, streamline processes, and future-proof your operations. With our solutions, you can start seeing results within days and take a giant leap towards operational excellence.

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