Faster Processing
Reduces Cost and Improves Cash Flow
Significantly reduce search time, save space, save money by qualifying for
early payment discounts and benefit from faster collection of accounts receivable.

Any one working in accounting knows about the mountains of documents that need to be stored to meet today’s legal and financial requirements. The systematic filing of records without a document Management System (DMS) can cost you in time and space, particularly the time lost hunting for records that might be filed off-site, incorrectly, or even lost.

Legal Requirements
GAAP (Generally Accepted Accounting Principles)
Completeness, timeliness, accuracy, accountability and the motto “No entry without documentation” are the main goals driving an accounting department.

Sarbanes-Oxley
CPA firms and publicly traded companies have a whole new set of regulations to worry about. With the passage of the Sarbanes-Oxley Act of 2002, companies are now required to retain even more documentation, including e-mail and other types of financial correspondence.

Retention Schedules
According to tax laws, retention schedules can be up to ten years. In addition, documentation can play an important role in product liability issues or contractual disputes. In such cases it may be necessary to retain documents even longer.

Internal Processes
Access to detailed information such as departmental codes or general ledger numbers must be possible at all times. This guarantees that an internal cost/benefit analysis gives you the right numbers.

Benefits with EDM
A much higher level of efficiency is achieved for your accounting. EDM organizes internal verification processes, making them swift and secure. Routing delays are eliminated and approval time frames are significantly improved. Decentralized simultaneous access to documents is possible. Executives are supplied with the most current information, since every record can be accessed immediately. Rooms filled with file cabinets are freed up. And preparing for an audit is immensely simplified.

Accounts Receivable
It’s often a long way between generating invoices, to issuing payment reminders, to recording cash receipts. And it seems like there are always lots of questions before a customer finally pays an invoice.

Benefits with EDM
When all relevant documents are stored centrally, questions can be immediately cleared up and copies can be sent out with a couple of mouse clicks. This removes many of the time-consuming payment obstacles and ensures prompter payments. With less time spent hunting documents, employees have more time for their core work. Motivation and job satisfaction grow considerably.
Case Study