E-statements are now fast becoming a very viable way to go paperless.
By Harry Stephens, President and CEO of DATAMATX
Remember the initial quest for the “paperless” office? The advent of desktop computers was supposed to allow us to convert all of our paper files, billing, payments, and more to digital bits and bytes. First magnetic tape, then removable disks, and CDs, DVDs and zip drives were supposed to replace those big metal cabinets. Next, we thought email would be the answer to eliminating the expense of printing and mailing statements and invoices. Members could receive these statements on their computers and would make deposits and submit payments by pressing a button on an easy-to-use interface. And paper would disappear from the office.
The devices that sit on our desks–or those that we now can carry in our pockets–certainly provide convenience and are fairly easy to use. However, shifting the huge volume of credit union transactions to a digital base has required building a supportive communications infrastructure, including related laws and regulations that have taken more than a decade to develop. But we are getting closer, and e-statements are now fast becoming a very viable way to go paperless.