Stamp prices are increasing again. From 29 March 2016, you will be paying 1p more for every letter you send by post. The cost of a first class stamp will be going up to 64p, while a second class stamp will rise to 55p. The rise in the cost of stamps means a significant rise for your postage costs if you’re sending out all your invoices, statements and other documents to your customers by post. With a steady year-on-year rise of the cost of stamp prices since 2000, as the graph below shows, the rising costs will continue to affect your business. 

When you take into account the cost of stationery, print, postage and man-hours, your business will be spending an average of £1.16 per item to send out a single letter. If you want to know how much your business is currently spending on sending out all your documents by post, try our calculator. The calculator will also show you how much your business could save by sending all your documents electronically.

Some of the other benefits of switching to electronic invoices include:

• Reduced administrative costs
• Less time wasted on folding paper and stuffing envelopes
• Reduced risk of human error
• Improved document security – compliance with HMRC regulations
• Faster document delivery – helping you to get paid faster
• Automated business processes
• Better for the environment

If you want to avoid high postage costs and take advantage of some of the benefits mentioned here, you can easily switch to e-invoicing using our electronic document management solution, Spindle Professional.

Spindle Professional is a document management solution that works with your accounting system to electronically distribute all your documents in one batch. In addition to electronic invoicing, it allows businesses to simplify and improve their business processes – saving up to a day a week. For more information visit www.draycir.com/spindle