Paperless systems can integrate with each other to enable better productivity.
For example, if you are using an electronic system to store your receipts and invoices, this can be integrated with your accounting solution. This reduces the scope for error, as staff can input data automatically across multiple systems.
Similarly, your accounting solution can feed into your financial reporting and audit systems, creating a synchronised ecosystem that gives you a holistic view of your data in real-time.
Overall, paperless accounting systems can simplify a number of business processes. Here are 10 ways financial reporting software can benefit your firm.