Space, the final frontier of business optimisation. These are the voyages of forward-thinking high street retail businesses who boldly take ROI where no man has gone before.

In the retail sector, space is indeed a most valuable commodity. Even so, take a peak in the back offices of outlets up and down the land. What should you find? That’s right: paperwork stacked floor to ceiling. This means that available space, which could otherwise be used to generate cash, has been vacuumed into the paperwork blackhole.

It’s important to take stock of how much wasted space actually costs your retail business. Ask yourself how much of that space could be dedicated towards:

  • Selling products
  • Hosting increased footfall

So, rather than storing boxes of paper and invoices physically on site, increasing numbers of retail businesses are safely storing and retrieving them in a document management solution.

Document management: the space saver

Angele Boyd, industry analyst at IDC, calculates that on average, companies part ways with 1 million managing documents for every 10 million in revenue.

Hair-raising, we know. Thankfully, this needn’t be the case. There is a range of simple tricks your retail business can implement to give your documents less ebb and more flow.

Check out these 4 tips to document management.

1. Turning paper archives into pixels

Digital transformation isn’t as hard to achieve as you might think. Turning water to wine is one thing. Turning paper-driven processes into digital ones is another.

That’s why the retail sector is embracing digital transformation. Your business’s tower of archival documents, after all, probably rivals Jack’s beanstalk. Time to chop the stalk down with back scanning and digital archiving.

How? By:

  • Scanning and safely storing all documents digitally

This will free-up an incredible amount of premium space for your retail business whilst giving you ease of access to any and all documentation.

2. Transform your mailroom from paper to pixels

Your mailroom is hit up each day with a landslide of incoming communications. Forget about physically archiving them in your makeshift storage room. Why not cut back on the clutter by digitising these communications as soon as they hit your mailbox.

How? By:

  • Scanning all inbound physical mail
  • Safely storing it in an easy to access system when and where you want
  • Automatically emailing the mail to the intended recipient at the start of each day

Doing so means you’ll save more space than Captain Kirk ever did. And, alongside this, you’ll infuse next level efficiency into the slipstream of your business. At the touch of a button, assigned workers can access key data. They’ll always know where it is. They can access it when and where they want, even on the moon.

3. RE: You’ve got hybrid mail

Tick tock goes the retail business clock. How much time does your team spend printing letters then sending them out via the post? Digital transformation is a space, time, paper and cost saver. It moves your business away from time-consuming, manual processes.

So, look to consolidate all the outgoing mailings across your business. How? By:

  • Directing them to an offsite high-volume facility where they can be printed, signed, sealed and delivered

This means your retail business’s internal mailroom will no longer be filled with high volume print equipment and paper storage.

Get more insights into how digital transformation can transform your retail business.