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According to a new research report brought out by the Liverpool John Moores University and E-sign, it has been found that Medium-sized Law Firms from the UK could collectively save £336 Million each year and cut carbon emissions if they can digitize slow and expensive paperwork. In this way, each law firm can save approximately £400,000 annually by reducing the costs of printing and completing administrative tasks quickly and minimizing the costs of storage per paper and documents. The estimated savings also assumed that a medium-sized law firm which usually contains around 250 employees can handle 18,000 legal documents each year. The researchers of LJMU also calculated efficiency savings from digitization including the costs of printing, delivering, and returning agreements, storage, and administrative time.
The study calculated annual savings of £416,892 broken down as follows:
Printing Colour Pages for £210,000
Printing B&W Pages £84,000
Paper Colour £15,428
Paper B&W £15,092
Postage £73,800
Administration £18,572
Storage £107,583
This efficient process of saving andshiftingcan help the environment by posting and delivering fewer documents to clients reducing carbon emissions from transport saving around 805.895 kilos of CO2 for each firm annually.
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