Wednesday 28 March 2012

Stamping out business costs?

Ouch! There can’t be many of the day-to-day business staples that suddenly rise by in excess of 30% but that’s what’s happening to the humble stamp. For a standard letter size, first class stamps are to rise from 46p to 60p. and second class stamps from 36p to 50p. Then there’s the uplift for the bigger letters and packets too. Ofcom’s taken the brakes off so we’ll be getting used to postal service charges increasing as Royal Mail seeks to balance its books whilst simultaneously investing in major modernisation.

For those issuing paper invoices, contracts and correspondence or marketing literature then the franking machine will be costing you a lot more this year. For professional firms like accountants this is a particular headache. In these days of social networking, e-commerce and even old-fashioned email the continuing volumes of paper based documents can be a surprise. However, the fact is that post can be a significant cost for some businesses. This is another burden which makes it all the more difficult to keep a lid on costs.

Of course, dealing with documents electronically removes this. Storing and actioning all correspondence, invoices etc via document management solutions is a logical approach. When something simply has to go out by post then it should be the exception rather than the rule, email and e-commerce the norm. Secure portals and digital signing tools further cement the move away from post. We’re delighted that we’re on the cusp of launching a joint initiative to market with accountancy web and content specialists PracticeWEB to enable portal connectivity. Having security and immediate access in the office and for clients and suppliers joins up the way we work, without the inherent delay of post and without bumping up costs 30% at a time.