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HOW ACCOUNTING FIRMS CAN BENEFIT FROM PAPERLESS

DOCUMENT MANAGEMENT

The complexity of United States taxation laws combined with business professionals' desire for a

better view of their finances means that the accounting market has been burgeoning.

Bookkeeping companies are receiving a seemingly limitless flow of tangible files from numerous

companies, requiring an exorbitant amount of cabinet space. Yet, there are a few who refuse to

partake in this pestering process and operate through paperless document management

system instead.

Finding the appropriate material

To an accountant, there's probably nothing

more frustrating then attempting to find a

single employee tax form among a stack of

paper nearly a foot high. Is it possible that the

client took the time to neatly organize all

statements in chronological order? Just because

an event is plausible, doesn't mean it's going to

happen. Not to mention, it's not as if the

bookkeeper has one person to file tax returns

for. Depending on the size of their business,

accountants could have dozens, if not

hundreds, of people relying on them to manage

their finances.

So where's the solution? Brock Philp, CEO of a

document management software vendor and

contributor to AccountingWeb, claimed that

accessing necessary files and records through

electronic means proves to be much more

efficient than spending hours perusing through

filing cabinets or desk drawers. Even the most

assiduous bookkeepers are bound to misplace

an item that may hold vital client monetary

information, but paperless systems provide users with easy-to-use search and manage features

that make it simple to obtain necessary items. Everything from spreadsheets to legal forms can

be submitted and organized in the program.

Reducing costs

If one were to look at the average price for a ream of basic printer paper, they're probably not

going to cringe. Multiply that by 200 and he or she may reconsider utilizing tangible records.

Thankfully, paperless document management system allows users to significantly reduce

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expenses associated with paper-heavy workflow. According to Digital Journal, Carolina

Accounting and Tax Service, an accounting firm located in Charlotte, N.C., recently announced

that it reduced 75 percent of its paper and ink toner usage in anticipation of Earth Day.

"To make going paperless a reality, we had to identify and invest in systems and technology that

allowed us to accomplish our goal of waste reduction while improving efficiency, communication

and delivering value-added innovative solutions to our clients," said Richard Beauchemin, a

certified public accountant with Carolina Accounting and Tax, as quoted by the news source.

In order for the document management system to operate practically, Beauchemin noted that

the organization provided its clients with access to the firm's public cloud server, allowing

customers to submit files through their personal electronic storage cabinets. In the event they

need to view their information, the company's customers can attain it from anywhere, anytime

through a secure connection. Digital bulwarks and other protective measures were added to

ensure the confidentiality of client records.

For accountants across the nation, the option of eliminating that foot-high stack of papers is a

possibility. There's no reason why bookkeepers should make themselves suffer: Crunching

numbers five days a week or more is hard enough.

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Tags: paperless office, document management software