Accounting Wisdom: Document Management vs. Document Storage

dms-finance

Accounting firms of all shapes and sizes have a lot of documents to deal with. The chances are that just about every one of these documents has some sensitive information or company secret, so they can't be jammed in a file cabinet and left alone--but what's the real difference between document storage and document management? Let's find out!

Storing or Managing?

At first glance, it might not seem like there's much difference between storing your documents and managing them. However, the truth is that the difference exists--and it's critical. Let's take a look at some example firms to see that difference in action.

Firm A: Storing

Accounting Firm A is doing a good job storing their documents. They've gone digital, so all of their data is online in one secure place. Files are organized by client or project, passwords are protecting sensitive information, and everything is where it should be.

But all is not well in Firm A. Tasks are still cluttered and confusing. Documents are often printed unnecessarily because there are no rules for when to use digital tools. Workflows aren't taking advantage of the organized documents--because storage, after all, is just storage.

Firm B: Managing

With a little help from document management solutions, Accounting Firm B is doing a whole lot more than just storing their documents. Files can be shared between individuals, teams, and different locations, all with version control tools to ensure everyone's on the same page.

Rules have been put in place to help employees utilize digital solutions--so no more unnecessary printing. On top of all that, some tasks have been automated thanks to clever document management technology, allowing this firm to focus on accounting needs instead of document needs.

So, are you managing your documents, or just storing them? Contact us today to learn more about document

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