Document management is the key to success in many industries, but it can especially be vital for accounting. With so much money at stake, CPAs and other accountants need to have a system that will not only store documents securely but also automate workflow and allow them to quickly find what they need when they need it. Document management systems are designed with these issues in mind - which is why we recommend using one for your business or organization!
Dealing with paperwork at work takes away time from other important tasks like meeting with clients or completing recurring work, planning financial strategies, or focusing on continuing education. Administrative tasks are essential to your business, but they don't need to be a part of all your work.
Automation to the Rescue
Every document your business creates adds a certain amount of time to your workday. Reduce the time needed to complete your document-intensive work with intelligent software. Saving time is a big challenge for accountants, and having automated tools like it will go a long way.
Automated Routing
Imagine scanning a document and the computer auto organizing it for you, no matter where in the filing cabinet or hard drive it needs to be stored. Thanks to automation rules that you can create for different document types, intelligently route your documents to the appropriate recipients.
Zonal OCR is a component that allows you to upload a document, physical or digital while creating metadata it can use for organization. Often, in the field of accounting and bookkeeping, paperwork is one's job. Specialized documents and forms are a major part of that work. Document templates are essential in order for a business to know what kind of document they're dealing with, as well as routing guidelines. With this data attached to the document, there is no need for manual data entry.
Automation Rules
The life of a document doesn't just end when it is filed correctly in your system. After the system assigns your document to a person for review, it can take advantage of more automated functionality to ensure compliance. A basic set of rules can be applied to a folder on documents that records when they are uploaded, downloaded, or deleted.
All of these different documents can quickly pile up, so it is important to automate the process as much as possible. Ensure that certain documents are safeguarded from being edited or deleted and also have the correct expiration date for when you've reached the minimum time.
Finally, by uploading a file to a folder, you can initiate automated workflows.
Automated Workflows
These processes use conditional rules to automate a variety of tasks with your documents. One of the most common workflows is an accounts payable workflow, which identifies certain values that are contained in a document's profile and routes it. Invoices that come in with a balance higher than the specified amount are automatically routed to the VP of finance.
With automated workflows, you have the freedom to create any workflow, which can be improved at any time. A workflow dashboard allows you to view all your current workflows as well as a various successful past process.
One of the benefits of using document management software for your business is how it can help to automate parts of your work.
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