The ultimate purpose of any business is to generate profitable results. A company produces a significant amount of documents every day. Sometimes it is difficult to keep track of all the documents received by emails and by posts, let alone processing them in a timely manner. Delaying the document flow process causes organisation inefficiency, which leads to counter-productivity and less profit for organisations.
The first thing organisations need to do is to manage all the documents – whether business or accounting – electronically. If your business is still sorting and processing paper documents, it is time to go paperless for efficient document management.
There are simple and smart ways to help your business process documents on time and with the least manual errors. Processing documents can be easy by using a centralised document management solution. Here are a few tips:
1. Approving documents electronically speeds up the workflow process and avoids misunderstandings among colleagues.
It is vital to ensure that your approval process is structured to the way your business works. All business documents such as expenses, holiday forms, purchase orders, and business contracts can be managed and approved within a centralised system. For accounting transactions such as purchase invoices, once the approval process is complete the person responsible will make a final check on the transactions prior to posting into company’s existing accounting application.
2. Post accounting transactions directly into your existing accounting application after approval.
A comprehensive document management solution that integrates with your existing accounting application saves time and reduces the risk, so there is no need to install different software and save duplicate documents in different locations. We suggest businesses to post transactions into their existing accounting application straight after approval because it prevents employees from delaying or forgetting processing transactions at a later stage, especially when they can be easily carried away with other tasks.
3. Manage your non-accounting documents in a separate secure folder where flexible user rights may be granted at different levels
They can manage both accounting and non-accounting documents within the same workspace without compromising company security. Companies can give access to colleagues for documents in the other document archive, meaning there is no need to compromise security in the accounting archive. Your colleagues are able to collaborate effectively whilst avoid saving duplicated documents in multiple locations.
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