When comparing paperless and paper-based accounting processes the best place to start is with your invoicing system. It is understood that electronic invoices are far superior to traditional paper invoices in a multitude of ways. Primarily, a paperless invoicing system vastly improves the speed and security of your entire invoice management process. Paperless invoices are also significantly less expensive when compared to their physical paper counterparts. That means once you recover the initial installation costs, a paperless invoicing system will save you money for years to come.
It will improve the bottom line. So what exactly is a paperless invoice or electronic invoice? It is an invoice form that is created in an all-digital format. For example, a paperless invoice includes all the information of a paper invoice, except it is viewed and processed on computers, tablets, and smartphones. If necessary, paperless invoices can easily be converted into paper invoices by simply printing the file. A paperless invoice is created, managed, and stored through the utilization of a document management system.
The document management system can be located directly on your server in the form of software or located on a cloud-based system. The document management system should also be able to convert your old and or current paper-based invoices into digital format. That way everything can be integrated into the system. Paper invoicing is a manual process. That means it is slower and far more prone to error. The good news is that paperless invoicing eliminates a great deal of the steps involved with paper invoicing. That includes the elimination of manual data entry, and manual document filing.
The biggest benefit of paperless invoices is the fact that they provide you with the opportunity to go well beyond the limitations of paper-based invoices. For example, paperless documents can be transmitted through email and other secure electronic communication platforms. This makes it far less expensive and far more convenient when compared to sending paper invoices through the post office or by a courier service. In addition, paperless invoices are a whole lot easier to secure. On the other hand, it is easy to lose and or damage paper documents.
Just like other electronic document solutions, paperless invoicing tasks can be performed outside of the office with computers and Internet enabled mobile devices.
Please contact us today for more information about how to compare paperless and paper-based accounting processes, and how our digital solutions can help your organization. NeoLedge is a well-established, yet fast growing electronic document management company that has a global reach. The business was founded in France over 25 years ago by a team of entrepreneurs that genuinely believe innovation is a living and breathing process that pushes us to find better ways to help organizations perform.
That principal has served us well through the years, as we are now a recognized throughout the world as a groundbreaking leader in the cloud-based software industry. We are incredibly proud of the fact that we have guided and continue to guide hundreds of organizations through their digital transformation. Our company has also supported thousands of daily users, and millions of managed documents in both the public and private sectors.