In light of the most recent “cyber-glitches” impacting millions across the globe, it’s worth reminding ourselves of the value of paper. Digital forms are convenient, and once a company has invested in the transition to digital, those forms don’t require requisitions, delivery time, or payment.
That sounds great—until it’s not. When your system is down, access to those forms is exactly zero. That’s okay if it’s a matter that can wait, but very often, it can’t. What if you are a driver in the field needing a sign-off for a delivery? Or a realtor about to sign a contract with a home buyer? Suddenly the convenience of digital forms becomes a liability.
Sometimes Only Paper Will Do
A similar issue exists with legal requirements and redundancy. There is a reason that certain financial documents require paper.
Consider the following:
1. Legal Documents: Certain legal documents, such as contracts, deeds, wills, and powers of attorney, often require physical signatures on paper to be legally binding.
2. Government Forms: Many government agencies still mandate the submission of certain forms in paper format, including tax filings, license applications, immigration documents, and more.
3. Medical Forms: In the health care industry, certain medical forms, such as consent forms, patient histories, and insurance documents, may need to be filled out on paper for legal compliance, patient privacy, and record-keeping purposes.
4. Financial Transactions: In some cases, paper checks are required for certain financial transactions, such as real estate, large payments, or payments to government agencies, where electronic payments may not be permissible or preferred.
5. Practical Considerations: There are other markets, such as auto and HVAC, where paper forms are simply more practical due to the environment in which they will be used.
That why, for these and other reasons, there is still a place for traditional forms in today’s market.
Highly Lucrative Products
There is another compelling reason to sell traditional business forms (and checks), as well. They are highly lucrative. Here are just a few of the reasons why:
- Traditional products like forms and checks have solid margins and bring in good profits.
- Many businesses are in search of quality suppliers as they don’t know where to buy forms and checks. As a result, these products may not fully meet their needs.
- Traditional forms and checks offer high repeatability. Once you secure a client, orders can keep rolling in with minimal effort on your part.
- Selling traditional forms and checks can be a great door opener to other business.
If you’re looking to boost your profits and expand your portfolio, maybe give traditional forms and checks a second look. With the recent cyber-glitches, this is a great time to do so—when the pain of downed systems is on everyone’s minds!
