Digital Archiving: productivity and accessibility

[shukla7789]

Digital transformation and technological advances are bringing profound changes to the way organizations in different sectors operate. And accounting firms are one of the sectors most impacted. This digital transformation has brought advances to several processes, but one of the most significant has been digital archiving.

With the amount of documents that accounting firms have to manage, digital archiving is the solution to the problem. Thanks to technology and the digitalization of companies' relationships with the State and other bodies, it is now possible to automate many manual, repetitive and time-consuming tasks, such as document management, which has allowed for significant increases in the productivity of accountants who adopt these technologies.

Increase productivity with digital archiving
Lean best practices tell us that everything that does not add value (waste), but is ivory coast whatsapp number database for the provision of a service, should be minimized. This minimization can occur through automation and/or process optimization. But despite all these advances, the truth is that the activity of the accountant is still very much tied to physical information, which ends up generating, for both accountants and their clients, activities related to the processing of paper that are very inefficient, and that can (and should!) be rethought. Let's see...

The challenge of information flow
Typically, at the beginning of each month, the businessperson sends all documents relating to the previous period to their accountant for accounting purposes. This delivery does not always occur in good time, causing delays in processing. In addition, it requires travel and the documentation can be submitted in paper or digital format. Sometimes, both, which can result in duplicate information and raise doubts that need to be clarified.

Once you have all the documents in your possession, you need to print those that were delivered in digital format and organize all the documents for accounting processing, and days can go by without a single document actually being processed. Not to mention the physical space that the file folders take up, which often ends up being the accountant's responsibility for storing, despite it being the client's obligation.

The bet on digital archiving to optimize processes
This is certainly a scenario that many accountants can relate to. Fortunately, Decree-Law 28/2019, among other changes, has allowed tax-relevant documents presented in paper format to be digitized and archived in electronic format (provided that all legal requirements are met), thus creating the conditions for the dematerialization of documents. It has also introduced the inclusion of a two-dimensional code (QR Code) and a unique code (ATCUD) on tax-relevant documents.

The impacts of this law on accounting firms are profound and digital archiving increases the automation potential of accounting firms. No more endless hours waiting for documents and wasted time organizing them.

Advantages of digital archiving
Increased operational efficiency
Streamlining the sending of documents allows for the optimization of accounting office processes, as at the beginning of each month, accountants will have all of their clients' information ready to be imported and integrated into accounting automatically, ensuring greater accuracy of information and freeing accountants from the tasks associated with organizing paper documents.

Furthermore, this technology allows processes to be anticipated, since it will no longer be necessary to wait for the information to be available in the e-invoice in order to process purchases. It will also be possible to automate all document reconciliation operations between all available data sources.

Finally, the absence (or minimization) of paper in the office will allow for the creation of a cleaner and more organized environment, which will also have a positive impact on the productivity of accountants.

Greater value generation
The productivity gains achieved will allow accountants to have more time to offer more participatory and higher added value support to their clients, but will also give them more time to focus on growing their own businesses.

Cost reduction
We can quickly conclude that this technology will contribute to a reduction in costs related to paper, printing, travel, office furniture and physical space, since there is no longer any need to archive paper documents. Furthermore, by reducing the time spent on non-value-added tasks, we are reducing operational costs, which translates into greater profitability for the office.

Greater information security
With digital archiving, all information is stored securely and with guaranteed integrity, accuracy and reliability, and with all the security mechanisms that prevent the loss of information, as required by the legislation currently in force.

Access to information
With digital archiving, information is all organized in a central repository, accessible whenever and wherever you want, facilitating remote access to information, and easily searchable, thus ending endless hours searching for documents in physical file folders.

Reducing the ecological footprint
Reducing the use of paper documents will help reduce the number of trees being cut down and the CO2 emissions from travel, making offices and their clients’ businesses more environmentally responsible. In addition to doing good for the world, it can also be an attraction for new generations of entrepreneurs who are typically more environmentally conscious.

A new way to increase the productivity of your accounting office
Just as happened a few years ago with the emergence of the SAF-T file and e-Invoice, these new changes are once again changing the way accounting firms organize their processes. In an increasingly global and competitive world, accountants cannot ignore these new opportunities or risk being overtaken by the competition.

In addition to contributing to a more sustainable world and productivity gains, by opting for digital archiving, accountants are conveying an image of innovation and modernity to their clients, while at the same time gaining a competitive advantage over competitors who do not use this type of technology.

With the PRIMAVERA Digital Archive, clients of the offices will be able to send all documents as they receive them from their suppliers or other entities and, from the moment they are entered into the Digital Archive, the respective data will be extracted immediately so that at the beginning of the following month, their accountants will have all the information available and ready to be processed. After being accounted for, the documents will be archived, ensuring all the traceability required by law.

Discover the PRIMAVERA Digital Archive , fully integrated into the accounting management system, and open the doors to a new era of speed, security and ease of access to accounting documents.