It’s no secret that accounting firms today are quickly adopting paperless office practices. It used to be that accountancy companies would only convert to the paperless office when they had no other choice, but now it is an expectation of accounting clients. The question most accounting firm leaders ask themselves is- why did we wait so long? When you look at it from this frame of reference, it’s easy to see how many accounting firms were hesitant to make the change in their document management systems out of fear. There was simply not much data available for them to make a decision on what was best for their company until more information became available over time.

The Results Are In

There’s good news for document managers who took a gamble: the paperless workplace provides both efficiency and savings on several levels.

SAVINGS THAT ARE QUANTIFIABLE

It’s only natural that accounting firms want to see a return on investment before adopting new strategies. Obviously, the most apparent savings come from a decrease in paper usage.

This will help you to save money and time. Electronic document management system for accounting procedures eliminate the need for printers and photocopiers, saving staff time and money. As per the study from the University of Northampton, businesses may lower photocopying by as much as 75% and allow employees to focus on client needs rather than wasting time with the print-copy-staple-file routine. It might take hours each day to locate and sort through paper records. Digital files are only a few clicks away, so this process may take even longer.

Reclaim your office space. Paper-based storage solutions take up a significant amount of space. The cost of storing paper may be prohibitive, especially as organizations grow.

INTANGIBLE SAVINGS

While paper savings are easier to quantify than other types of savings, they are still an important element of the equation. The improved partnership is one of the most significant benefits. Paper-based systems are inherently inefficient. All documents are classified, assigned a document number, stamped with the authorization of their originator, and passed from one worker or department to the next. Several personnel can work on a file at the same time with electronic document management, increasing both reverse time and the quality of the result.

Contact Docupile right now to learn more about how your accounting firm may benefit from document management technology!

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