Going “green” is good for the environment, but it can also be good for your organization’s bottom line. When it comes to purchasing a board software, most organizations are quick to ask, “How much will this cost us?”
However, they could (and should) be asking, “How much money will this help us save?”
Cost saved from using board software
Recent studies estimate the cost of a printed sheet of paper is about $.11 per page—including the cost of paper, toner, and equipment maintenance. If your average board book has 250 pages and is printed for 20 people at 12 times per year, that amounts to 60,000 sheets of paper.
If you translate that number into dollars, you’re looking at $6,600 annually. Costs for materials such as binders, tabs, shipping and/or hand delivery also add up over time, and many organizations have committees that meet frequently and are paper intensive, too.
There is also a significant environmental impact when you go paperless. One tree equals approximately 16.67 reams of paper or 8,333 sheets. For the scenario above, 7 trees would be saved annually by moving to a digital board solution.
Productivity for Board Administrators
Administrators are realizing that board software can dramatically reduce the amount of time being consumed by board book preparation. What once took days can now be completed in hours. Here are some estimated time allocations for common administrative tasks in preparation for board meetings:
|Printing/Photocopying||96 hrs||8 hrs|
|Board Book Collation and Assembly||48 hrs||4 hrs|
|Packaging/Mailing/Delivering||24 hrs||2 hrs|
|Total||168 hrs||14 hrs|
*Times are assumed based on the above example of 250 page board books for 20 board members/managers, 12 board meetings a year.
Conservatively, let’s assume that it takes about 14 hours per month for traditional board meeting preparation (not to include special events or committee meetings). Let’s also assume that the same amount of work can be done in 2 hours using board software.
If administrative time costs an average of $30 per hour, the annual savings would amount to $4,320!
When you combine the paper and time savings outlined here, it exceeds $10,000 annually! Most boards can see a positive payback during their first year using software. The actual amount an organization can save depends on several factors.
The most important is how seamlessly the new electronic process can be substituted for the existing one. Some organizations choose to adopt a paperless board solution over time, and Directorpoint partners with their clients to develop an implementation timeline and plan that allows for optimal adoption and satisfaction rates for board members using their software.