Rescue the bottom line with digitization.
“Past Due”. Account Closed”. “Service Interruption Notice”. “Disconnection Notice”. In 2021, the task of making ends meet has become harder than ever.
“More than 200,000 Canadian businesses could close permanently during the COVID-19 crisis, throwing millions of people out of work…”, says The Canadian Press.
For those businesses still in operation, the pressure and stress related to meeting debt obligations, retaining and/or paying staff, and covering fixed costs can leave many feeling lost and alone at sea. These debt issues are not exclusive to small and medium-sized businesses either. According to Canada.ca, “The Government of Canada’s debt program will increase in 2020-21 in order to finance the forecasted financial requirement of $469 billion. Borrowings will increase so that the government can make the necessary investments to stabilize the Canadian economy.” Restrictions due to the Covid-19 pandemic have also added a layer of complexity to these debt woes, as closures and lost revenue have only compounded issues.
But help is on the way. As multiple vaccine rollouts continue across the country some 17.2M doses have been administered. And as vaccination numbers continue to rise, efficacy results may follow suit, as trials continue, and more vaccine data is collected. Increased vaccination—combined with decreased Covid-19 cases—can also mean returning to normal sooner; or a semblance of it, anyway.
Payload to the Rescue!
In the meantime, however, there are other alternatives that can be adopted that ultimately help reduce costs and redirect key personnel to more value-added activities. Digitalization, along with digitization, can have positive lasting effects on an organization’s bottom line. So, what are digitalization and digitization, anyway? As defined by Gartner, digitalization is “the use of digital technologies to change a business model and provide new revenue and value-producing opportunities”, while digitization, on the other hand, is converting analog to digital – or more simply put, taking a paper form and creating a digital version of it. Payload’s platform not only allows its users to digitalize their workflows and processes, but also digitizes paper manifests, as well.
So how does this help me?
Payload’s easy-to-use cloud-based software helps to bring your operations into the digital, with all the bells and whistles. The workflow helps its users identify inefficiencies and creates opportunities to save money and time. Whether it’s a digital field ticket, master ticket, or a digital manifest, the benefits of our system are realized quickly after adoption.
How can paying for something save money?
Great question. According to Iron Mountain, employees in paper-intensive businesses spend up to 40% of their time looking for documents, and 7% of documents are lost or misfiled. Contrasted with a 40-hour work schedule, 40% of time looking for paper documents equates to a whopping 16 hours per week. In an industry like Oil & Gas, it is not uncommon for workdays to exceed the normal 8 hours, which only increases the amount of time spent on paperwork.
Not enough? The 10,000 sheets of paper each office worker uses costs more than $500 per annum. When multiplied by printouts, paper copies, ink toner, copy/printer machine maintenance and repair, not to mention the electricity consumed by these office products, the dollars quickly add up.
When asked about the benefits of Payload, a service company coordinator said “With the past system, it could take weeks to get tickets approved and invoiced, entered into the system and approved for payment. Now, I can have it completed in just a few days, and payment to the carrier within 30 days. To me, this is a huge time saver and win for all sides”. Additionally, Payload can help to streamline operations in the field. Using our reporting and analytics, production companies were able to find significant savings when switching from tracking volumes by the metric cube to hourly rates.
As businesses look to “do more with less” seeking alternative means of reducing spend or increasing efficiencies and updating processes becomes a priority. Payload’s platform can not only help businesses better manage their logistics operations and maintain compliance, but it can help lower costs, manage ESG requirements, forecasting, and more.
Contact our team at firstname.lastname@example.org for a demo, today.