Accounting firms generate all kinds of documents and have traditionally used lots of paper. Because accounting tends to be so paper-heavy, many firms find it difficult to integrate their systems into today’s digitally-driven business environment. A paperless accounting firm comes with many functionality benefits, operational efficiency, and quality control.
Going paperless means converting your existing paperwork into digital documents. It is not an easy process, but one that takes careful planning, time, and effort. However, with a reliable document management service, your documents can be scanned and stored quickly and accurately.
7 Benefits of a Paperless Accounting Firm
Paper documents take up space and can be difficult to keep organized and manage. Financial institutions need to be efficient and accurate to stay ahead of competitors and satisfy customers. Paperless systems are a necessity in the modern business world. Additionally, investing in your business can provide many of the following benefits of becoming a paperless accounting firm.
Save Space
The most obvious reason to go paperless is to get rid of all those filling cabinets and boxes of paper. Typically, accounting firms use 25% of their office space for storing paper documents. Get rid of the storage overhead and open up workspace with cloud storage.
Your office will look clean and encourage productivity without all the paper clutter. In addition, a computer on a desk is a lot more appealing than a messy pile of paper.
Organize
Sorting through files containing thousands of pieces of paper is slow and frustrating. Digital document archives have a keyword search function that greatly improves productivity and turnaround time.
Scanning hard documents into a paperless filing system puts all your business related items into one centralized location that can be accessed anywhere, at any time. Moreover, your employees can readily find requested invoices and statements without making clients wait. Paperless systems can also track retention periods to help streamline the tedious process and keep your business in compliance with retention guidelines.
Save the Planet
Paper documents create a tremendous amount of waste. With hard copy storage, you may need 5 copies of the same document in multiple locations. US offices use around 12.1 trillion sheets of paper a year. Therefore, with digital documents, you can have one, easy-to-find document with zero waste.
Protect the environment with a smaller carbon footprint. Using less paper saves trees and water cuts down on pollution and reduces the use of other chemicals that can be harmful to the environment. Being environmentally-friendly also makes your company more desirable to consumers because it shows you are a conscious company that cares about the world we share.
Increase Collaboration
Digital tools increase collaboration in the workplace between both employees and clients. Sharing documents, files, and folders is as easy as a few clicks of the mouse. Multiple employees can work on the same document at once and have immediate access to the most up-to-date version.
Our document management experts will index your documents and can create editable fields on any file. This gives you the ability to share documents with clients to collect signatures and other information almost instantly.
Save Money
Going paperless saves you money in many ways. From storage to printing expenses, digital documents significantly reduce costs for accounting firms.
The accessibility and organization from digital archives also saves you money by reducing the amount of time employees spend on menial tasks like searching through files to find specific documents. Additionally, the invoicing process also becomes faster and more efficient, bringing money into your firm without delay.
Security and Loss Prevention
Anyone with a key can access paper documents stored in an office. Access to digital documents can easily be limited and protected by many layers of security. Digital files are also not at the risk of being misplaced or lost. Data backup is easy with electronic files. Even if a file is accidentally deleted, you can restore it from the cloud.
Fire, flood, or other natural disasters can cause tragic losses for paper documents. Digital documents are stored offsite, protecting them from natural disasters, and making backup and re-installation easy.
Improve Customer Experience
Additionally, a paperless accounting firm can improve their customer’s experience by being efficient and responsive. Having easy access to requested documents allows employees to respond quickly and with the correct information.
Automated systems lower the risk of human error and increase processing times, saving you money and making the customer experience more satisfactory. Operating without paper also sends a message to current and prospective customers that you are a modern and highly skilled business. Customers feel confident that you are able to keep up with the pace of the modern business world and their ever evolving needs.
Become a Paperless Accounting Firm With Record Nations Today!
Going paperless with your accounting firm may feel like a daunting task. However, with financial document scanning and a reliable document management system, you can take your business to the next level. Stay ahead of your competitors with increased efficiency, productivity, and accuracy in the day-to-day operations of your accounting firm.
Record Nations is here to help your accounting firm streamline your business with effective document management. Additionally, we will connect you to one of our trusted contractors who can scan any document or file to create an organized system for your documents. To receive free, no-obligation quotes fill out the form, give us a call at (866) 385-3706, or contact us directly with the live chat.
