Most businesses today still use paper documents for many of their day-to-day operations. This includes everything from invoices and purchase orders to inventory lists and rebate agreements. While there are many benefits to using paper documents, there are numerous significant drawbacks.

One of the biggest problems with using paper documents is that it can be difficult to collaborate with other businesses and exchange real-time information. This can lead to delays and errors in the process. In this blog post, we’ll take a look at how going paperless can improve your trading partner collaboration efforts and help you achieve your goals.

• Increased Accessibility

According to Inc., the average office worker spends 4.3 hours each week looking for documents – and that's time that could be better spent working on your rebate strategy and achieving goals. When agreements are stored digitally, they can be accessed from anywhere, at any time, as long as there is an internet connection. This makes it easier for everyone to collaborate and work together, regardless of their location. It also eliminates the need to print and scan paper documents, reducing the time spent on administrative tasks.

• Real-time Updates

When multiple people are working on a project, it can be difficult to keep track of changes made to a paper document. Digital documents allow for real-time updates, so everyone can see changes as they are made. This means that everyone can work together seamlessly without worrying about version control or keeping track of multiple copies of the same document. For example, a collaboration tool allows team members to work on the same document simultaneously, making it easy to see changes in real-time and avoid any confusion or delays.

• Increased Efficiency

Switching from paper documents to digital agreements eliminates the need for physical file cabinets and cluttered desks. By organizing and storing everything online, it is simpler for team members to find and reference agreements. This can save time and reduce frustration when trying to locate important information and provide a more efficient way of managing and tracking agreements, reducing the risk of lost or misplaced documents. Along with the ability to reduce the time required to get agreements signed, speeding up the process and allowing team members to focus on more important tasks.  

• Streamline Communication

When you're relying on paper documents, it's easy for things to get lost in the shuffle. But when everyone is working from a central digital document, it's much easier to keep track of changes and ensure that everyone is on the same page. This can be a huge time-saver for businesses, especially when it comes to complex deals that involve multiple people and many moving parts.  

By providing a centralized location for document signing and storage, digital agreements make it easier to communicate and share information related to the agreement. Team members and trading partners can leave comments, ask questions, and get clarification directly within the digital agreement, rather than having to send mass emails or make long phone calls.

• Collaborate Across Time Zones

With traditional agreement signing methods, your team or your trading partners in different time zones may have to wait for hours or even days to receive and sign documents. With digital agreements, however, they can sign and access documents at their convenience, regardless of their location.

This can help to reduce the time required to get your rebate agreements signed and keep deals moving forward. By facilitating collaboration across time zones, digital agreements can help to improve efficiency and productivity in a global business environment.

Going Paperless Starts with a Collaboration Platform

The paperless office is no longer a pipe dream – it can be a reality for many businesses today. The business case for going paperless is clear: it’s more efficient, saves time and money, and is better for collaboration. By digitizing all of your agreements and workflows with Enable, you can make it easier for everyone internally and externally find the information they need, when they need it and establish a single source of truth.

Discover more about our collaboration platform and the benefits it can bring https://enable.com/solutions/collaborator