In accounts, solely depending on paper storage has several drawbacks. Efficiency is extremely vital to the functioning of any accounts department. Document management solutions (DMS) are a technology that help your department achieve this goal.
Despite DMS being known as a digital storage (as the name suggests), there’s much more that you can do with this technology that has improved over years of development. In accounting, implementing a DMS can do much more than storing invoices and tax records—here’s how DMS helps support the processes of your accounts department.
Workflows Keep Your Department Focused
In a basic sense, when using a DMS, a digitized document is circulated among the people who provide input, make changes, and grant it approval. This document life-cycle especially applies to the accounts department, where the process of input, editing and approval can be semi or completely automated based on the objective task at hand. These processes, known as ‘digital workflows,’ can help your department focus on the tasks that truly matter. Digital workflows not only improve team efficiency but also reduce workload that comes from handling redundant in-between processes.
Security Measures Ensure Data Safety
Excellent DMS vendors take security seriously. Implementation of high-standard security features guarantee the safety of all your digitized files. Experienced and reliable DMS providers stay within compliance and regulatory standards. This not only ensures that your documents are safe, but also protects you from client concerns and legal trouble.
Role Based Access Safeguards Confidential Information
DMS allows administrators to set roles for every user and define their levels of access. This feature ensures that sensitive documents aren’t up for access to just about any user on the system. Administrators can restrict certain users from accessing specific documents; or on the contrary, they can whitelist certain credible users to gain access to higher tier documents when necessary.
Access From Anywhere Makes Work Simpler
We are well aware that on-duty accountants aren’t always within the office premises. In the case where you’re on field duty, you may need a document that’s neatly tucked inside your filing cabinet, making it impossible for you to access its details without having to take a trip back—except it doesn’t have to be this way. Any DMS these days comes with remote access features that allow employees to access a required document from any device at any time.
With a plethora of features to improve the workings of an accounts department, we truly stand for the belief that a DMS is not an expenditure but an investment that yields a bountiful return over the years that your company grows. As experienced DMS providers, we would love to help you better understand the benefits of implementing a DMS for your accounts department. If you would like to read more, check out our blog. You can also contact us here.