FabSoft

If there’s one sector of business that generates a lot of paperwork, it’s accounting. Processing and storing statements, forms and other items swallow up a lot of time, and resources.

The best way to remedy this problem is to have an automated, digital filing system composed of a document management system (DMS) paired with the appropriate automation software to create a streamlined and efficient workflow.

Paperless Filing

Whether your files are stored in an in-house server, a remote location or even on The Cloud, once documents have become digitized, they are always available.

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Considering the arduous process of sifting through stacks upon stacks of paperwork to locate a single file, a DMS can immediately improve the responsiveness of an accounting department. Document management systems can even compile specific information into a separate database, given the right implementation. In other words, your DMS network is automatically capable of tasks such as calculating total yearly expenses from weekly reports, for example.

A DMS can offer other useful services such as:

Document Locking & Version Control – granting specific permissions to view or edit files. Files are automatically updated across the entire network once a change is made. This feature prevents several different versions of a file from existing, eliminating confusion. A DMS can also “roll back” to an earlier version if needed.

Annotation and Markup – Scribbling notes on physical audit sheets is generally frowned upon. Doing this on a DMS can be a handy way to keep tabs on a certain document or explain special circumstances. Markup systems also allow further organizing of documents. If a client becomes involved with a new project, he could thus be included on both files.


A Great Return on Investment (ROI)

The initial cost of a document management system is offset by the drastic increase in the internal productivity of an accounting department. With employees being able to archive documents and collaborate with each other faster than before, this automatically leads to a business that is run much smoother and efficiently. For example, instead of having to make physical duplicates of a file, a document could be saved under two separate department folders, such as “Transportation” and “Expense Accounts,” without wasting print resources or employee time.

Another useful feature of a DMS is that once all paperwork is stored digitally, it could also be accessed by anyone with permission within the organization. There’s no need to request a file, have someone locate it, then bring it to your office. Instead, it can be pulled up within a few clicks.

Some document management systems allow cloud file sharing as part of a larger content management and delivery system. Depending on the system, a user could pull up a document from his/her home computer or mobile device should some last-minute work be required.

Greater Employee Accountability

Since a DMS offers file protection and keeps track of user access, in the event that something should go awry with an account or form, it is as simple as pulling up the version history and access list. The document could be returned to its original version if necessary, or the mistake could simply be corrected. In knowing exactly at what point an error took place and who was responsible, the proper measures can be taken to refine existing methods, and prevent similar mistakes from happening down the road.

A Move To the Future

For the above reasons, document management systems have the capacity to completely transform the way an accounting firm (or any document-intensive business) operates. By offering the convenience of network-sharing and automatic version updating, many of the possible snags for daily operations are eliminated. The potential for data-sharing across departments provides opportunities for greater information and record-keeping across the board.

Investing in a top-of-the-line DMS such as Microsoft SharePoint for instance, is great for your business, but what about the middleware that delivers your digitized files to their final destination? Our archive connectors allow you to handle all your archiving needs right from your multi-function printer, and can function seamlessly with all major DMS platforms.

Learn more about fully automating your archival process by visiting our archive connector product page.