Book-keeping and accountancy are departments that depend on a great deal of physical records management and paperwork. Even after the ‘software revolution’, managing records has not become very effective because often records are lost or mismanaged. The disadvantage here is that though you have all the right documents stacked, finding one specific document at the crucial time becomes a time consuming task. This is why the concept of a paperless office has now been widely accepted, especially in the case of accounting and book keeping firms. Here are some of the benefits of document management system that can help accounting firms overcome these challenges:
Improved Workflow: Dealing with a lot of paper trails is inevitable when you’re in a book keeping and accounting firm. With Docsvault one can create predefined electronic workflows that help in managing the paper trails and also automate repetitive processes such as expense reports and invoice generation alongside reducing or even eliminating the manual movement of documents for reviews and approvals.
Email Automation: With email integration, you can automatically send invoices, reports, statements or documents via email from your Docsvault repository. You don’t need to physically scan invoices and attach them to your email to send them to your clients or customers.
3rd Party Application Integration: Accounting and book keeping companies need to calculate, review and analyse expenses, cash flow, taxes, etc. and feeding data into excel spreadsheets which usually takes a lot of time editing. A paperless office, i.e. an office having a document management system, has the edge as they can integrate their accounting software and various other applications with Docsvault. The smart search feature comes in handy as every department is dealing with a different third party application. It enables the user to search for a particular document directly from that application using a predefined hotkey.
Full Text Indexing: Docsvault offers OCR add-on that can make your scanned files fully searchable. This feature is especially helpful in accounting and bookkeeping firms for searching scanned documents such as invoices, purchase orders and other such documents
The concept of a paperless office is best if you find document management software which has all these and many more benefits for your company. Among all well-known and widely used document management systems globally; ‘DocsVault’ is the most recommended software for accounting and book keeping firms because of its price structure, flexibility and wide range of features.