{"id":86682,"date":"2024-05-06T12:55:05","date_gmt":"2024-05-06T16:55:05","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/?post_type=rbc_my_money_matter&#038;p=86682"},"modified":"2024-05-06T14:41:06","modified_gmt":"2024-05-06T18:41:06","slug":"five-easy-steps-to-digitize-your-business","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/transition-your-business\/five-easy-steps-to-digitize-your-business\/","title":{"rendered":"Five Easy Steps to Digitize Your Business"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\">\n\t\t\t\t\t\t\t<span>Entrepreneur<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">Five Easy Steps to Digitize Your Business<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By RBC<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"930\" height=\"620\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/05\/thumb-five-steps-digitize-business_402x.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"A stressed man behind a books with stacked books.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/05\/thumb-five-steps-digitize-business_402x.jpg 930w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/05\/thumb-five-steps-digitize-business_402x.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/05\/thumb-five-steps-digitize-business_402x.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 930px) 100vw, 930px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Five Easy Steps to Digitize Your Business &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/transition-your-business\/five-easy-steps-to-digitize-your-business\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/transition-your-business\/five-easy-steps-to-digitize-your-business\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published May 6, 2024 \u2022 4 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p>Just because you&#8217;ve been doing things one way for years, doesn&#8217;t mean you have to keep doing them that way. With the software and apps available these days to help you go paperless, it&#8217;s a great time to look into digitizing your business. Not only can it help you reclaim your office space, but it may also help save you money and reduce your carbon footprint. What&#8217;s not to love?<\/p>\n\n\n\n<p>While making the switch to paperless processes may save you time and money \u2014 many business owners worry about the initial costs, the training required, and the uncertainty around how the new systems will work. For that reason, it&#8217;s important to consider the whole picture since benefits like reduced storage costs, increased document security, and improved productivity can make up for any anticipated drawbacks to digitizing your business.<\/p>\n\n\n\n<p>So, before the files on your desk topple over, or you have to buy another filing cabinet, go digital with these five easy steps:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. Move Your Operations Online<\/h2>\n\n\n\n<p>Put any data your employees use regularly at their fingertips to allow them to get more done. Do an audit to see where your company is using paper and find ways to transfer those business operations online or to a company intranet. That may mean scanning records that you use regularly and keeping those records digitally in the future. You can also facilitate teamwork by using software like Basecamp or Slack that allows teams to collaborate online and share documents electronically \u2014 cutting down on the need to print out meeting minutes or other documents.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. Switch to Paperless Banking<\/h2>\n\n\n\n<p>If you still receive paper bank and credit card statements, then you can easily switch to eStatements. You can also benefit from using <a href=\"https:\/\/www.rbcroyalbank.com\/business\/ways-to-bank-for-business\/online-business-banking.html\" data-dig-id=\"LP-86682-74b0ddf3\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"online banking\" class=\"rbc-link-format\">online banking<\/a> rather than going into the branch to make payments and receive funds &#8211; cutting down on paper receipts and confirmations. Finally, pay your employees using <a href=\"https:\/\/www.rbcroyalbank.com\/business\/paying-and-receiving\/make-payments.html\" data-dig-id=\"LP-86682-f8ff686a\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"direct deposit\" class=\"rbc-link-format\">direct deposit<\/a> in order to reduce the paper involved in printing out and mailing cheques. Worried about security? Most banks have advanced encryption software and will guarantee your <a href=\"https:\/\/www.rbcroyalbank.com\/ways-to-bank\/digital-banking-guarantee.html\" data-dig-id=\"LP-86682-a5f28a9b\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"online banking security\" class=\"rbc-link-format\">online banking security<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. Choose Paperless Cash Management<\/h2>\n\n\n\n<p>Requesting paperless statements or bills from all your suppliers and service providers is an easy way to cut down on paper. You can also start providing e-invoices and e-receipts to your customers. By using software that digitizes and automates your payables and receivables workflow like Esker or NetSuite, you can often cut down on time spent filling out ledgers, coding, and approving expenses which will lead to cost savings. You can also streamline <a href=\"https:\/\/www.rbcroyalbank.com\/business\/paying-and-receiving\/make-payments.html\" data-dig-id=\"LP-86682-99f715eb\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"your payment\" class=\"rbc-link-format\">your payment<\/a> and <a href=\"https:\/\/www.rbcroyalbank.com\/business\/paying-and-receiving\/receive-payments.html\" data-dig-id=\"LP-86682-4d8d4b36\" data-dig-label=\"invoicing processes\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">invoicing processes<\/a> with help from your bank, sign up to have certain expenses <a href=\"https:\/\/www.rbcroyalbank.com\/business\/paying-and-receiving\/receive-payments.html\" data-dig-id=\"LP-86682-503ab3dd\" data-dig-label=\"automatically debited\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">automatically debited<\/a> to cut down on paper processing, and use their technology to help you digitize your <a href=\"https:\/\/www.rbcroyalbank.com\/business\/paying-and-receiving\/monitor-accounts.html\" data-dig-id=\"LP-86682-cb6d902b\" data-dig-label=\"cash flow management\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">cash flow management<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">4. Communicate with Clients Electronically<\/h2>\n\n\n\n<p>Instead of mailing invoices or making customers print out contracts and send them back to you, consider using eforms and digital customer management services like Wave. You&#8217;ll reduce the amount of paper you use, and once you&#8217;ve started digitizing your business, you can save even more time and focus on the insights into your business performance.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5. Optimize Your Processes<\/h2>\n\n\n\n<p>Every company has one or two paper-based processes you do because you&#8217;ve always done them that way. While you&#8217;re digitizing your workflow, evaluate all your processes to figure out how you can cut down on any duplicates or inefficiencies. Make sure to schedule periodical reviews to continue streamlining and evaluating your operations to make more processes digital in the future.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The Bottom Line<\/h2>\n\n\n\n<p>Digitizing business operations is now easier than many owners think and can help you move closer to a paperless environment, reduce material costs, and streamline operations which, in the long, run can save both time and money.<\/p>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-604a6516-9aff-41aa-a146-199898652099\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-744193c1-2811-4a68-8a35-1125099cc264\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Five Easy Steps to Digitize Your Business &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/transition-your-business\/five-easy-steps-to-digitize-your-business\/\">\n        <img decoding=\"async\" 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id-2e0d69df-f325-4fc0-9027-2cdd9c09d01f\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Entrepreneur<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"629\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/08\/Greenhouse-Gas-5.png?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/08\/Greenhouse-Gas-5.png 2948w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/08\/Greenhouse-Gas-5.png?resize=300,184 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/08\/Greenhouse-Gas-5.png?resize=768,472 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/08\/Greenhouse-Gas-5.png?resize=1024,629 1024w, 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decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/04\/iStock-1480030620.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Manger and worker in warehouse\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/04\/iStock-1480030620.jpg 2309w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/04\/iStock-1480030620.jpg?resize=300,169 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/04\/iStock-1480030620.jpg?resize=768,432 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/04\/iStock-1480030620.jpg?resize=1024,576 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/04\/iStock-1480030620.jpg?resize=1536,864 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/04\/iStock-1480030620.jpg?resize=2048,1152 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/business-planning\/\">\n\t\t\t\t\t\tBusiness Planning\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/managing-your-business\/business-planning\/how-canadian-businesses-can-navigate-tariffs-and-todays-dynamic-economy\/\" class=\"card-title h4 mar-t-0\">How Canadian Businesses Can Navigate Tariffs and Today\u2019s Dynamic Economy<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-604a6516-9aff-41aa-a146-199898652099 {\n\t\theight: 20px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-604a6516-9aff-41aa-a146-199898652099 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-744193c1-2811-4a68-8a35-1125099cc264 {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-744193c1-2811-4a68-8a35-1125099cc264 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-2e0d69df-f325-4fc0-9027-2cdd9c09d01f {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-2e0d69df-f325-4fc0-9027-2cdd9c09d01f {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>Just because you&#8217;ve 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