From Documents To Digital Data: How To Automate Your Financial Office

It may seem like an unavoidable paradox: Your financial office couldn’t function without all the
documents and records that pass through it every day. However, meeting all the requests you
receive for that paperwork is a tremendous drain on your resources. It’s estimated that utilizing
hard copies for your financial information costs businesses in the United States more than $120
billion. The average business generates a staggering 10,000 sheets of paper each year.
Paper forms cost your company much more than just what you spend on office supplies,
however. The amount of time it takes for your staff to meet the demand for such
documentation is time that could be spent on other, more important jobs. Your printers require
constant maintenance and attention to keep them in good working order. Hard copies can
become misfiled, lost or even outright stolen.
It’s clear that in today’s high-tech age, there must be a way to manage requests that doesn’t
overwhelm your team or overshadow their other tasks.

Embracing Automation Is the Answer

Automating your paperwork has the potential to save your business a lot of time and money.
When you switch to robotic process automation, you gain numerous advantages over the
traditional means of handling documentation. Not only can it eliminate your expenses when it
comes to keeping paper and ink in stock, but it can also cut down on the amount of time your
staff spends tracking down documents and forwarding them to their intended recipients.
Cloud-based solutions make it possible for your employees to search for and locate records in
mere moments, no matter where they are.
Other benefits of switching to automated systems include streamlining data recovery in the
event of a disaster. Because the information is not stored in a single physical location, it
becomes much easier to get your office back up and running. Encryption and other security
measures mean your documentation will be kept safe from prying eyes or unauthorized access,
as well.

Tools You Can Use

There are several strategies and tools you can use to automate and simplify your office’s
financial operations. Utilizing any or all of these can eliminate time-consuming paperwork and
increase your efficiency.
For example, cloud-based workflow and data management solutions can give your team the
ability to use the same server wherever they are with intuitive interfaces. A meeting
automation platform makes it possible for teams to meet virtually while providing automatic
attendance tracking, scheduling, post-meeting reports and more.

Another example of automation technology that can provide a real benefit to your business is
expense modules. These are used to eliminate the manual entry of transactions, saving you a
considerable amount of time. They also allow for automated prepayments and accruals, so
these recurring tasks can be taken care of without you having to pay attention to them.
In today’s high-speed business environment, there’s no excuse for continuing to rely on
outmoded processes. To learn more about how automating your paperwork can be a boon to
your company, take a look at the accompanying resource.

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