Electronic document management improves recovery rates
Accountancy firms can increase their chargeable time and efficiency through document management, according to a white paper published by Invu, one of the UK’s leading electronic document and enterprise content management software companies.
“In a paper-intensive industry like accountancy, practices face a veritable avalanche of documents and information,” said Colin Gallick, CEO of Invu. “Compounding this administrative burden is the importance of the information, reinforced by heavy regulatory obligations and scrutiny.”
A single paper document costs as much as £15 to file according to Gartner research, and a YouGov survey found that accountants carry a 26% overhead on their document-searching, wasting time at a cost of £2.7 million every day across the UK. Electronic Document Managements (eDM) and Enterprise Content Management (ECM) offer benefits specific to helping accountants address these issues, including:
Increasing chargeable time:
• Decreasing time spent looking for documents
• Allowing more collaborative working, with multiple people able to view and utilise a file at any given time
Facilitating client retention:
• Centralising a full client history to simplify client management
• Maintaining an audit trail of past communications and transactions
Ensuring compliance
• Distributing documents through a routing system that retains integrity and maintain control by tracking versioning and maintaining a full audit trail
• Maintaining consistent best practice across the practice for practice assurance visits
For media enquiries or further information about Invu, please contact Anna Gunning or Ellie Hawtin at Cognition PR on 01926 330 800 or email anna.g@cognitiongroup.co.uk / ellie.h@cognitiongroup.co.uk.
About Invu
Invu develops software that incorporates document management, content management, workflow, automation and collaboration specialising in solutions for the mid-market and smaller businesses.
Also known as the paperless office, Invu typically gives a return on investment in under six months, allowing companies to see efficiency savings in terms of both money and time.
Invu specialises in solutions for the mid market and smaller businesses.
Invu’s Open Search integration allows SharePoint users to utilise fully the benefits of WSS or MOSS whilst retaining the functions of specialist document and content management.
Invu’s solutions enable automated scan, capture and management, processing and output transformation.
Invu also integrates with all major accounting systems, including Sage and IRIS, as well as ERP and CRM systems.
For more information please visit www.invu.net.
