In accounting and finance, paper and file management is a daily challenge. Payments need to be made on time. Vendors need answers about invoices. And employees need to access critical information easily to provide strategic insight into an organisation’s financial health.
Visibility and control are key for accounting and finance professionals to successfully serve both internal and external customers. A content services platform goes beyond traditional document management to provide complete visibility into information across ERP systems and intelligently automate financial workflows.
In payment transactions, countless documents of different form and origin are generated every day, which then must be classified, filed, further processed and shared in a complex process. Documents are stored in a central file cabinet. Document storage software not only eliminates the enormous space requirement for storing paper. The document content is available – immediately and 24/7 – to authorised employees at the push of a button.
For financial service providers and insurance companies, it is particularly important to store credit and insurance-related documents along with all approvals in a legally compliant manner. In addition, these documents must be immediately retrievable, be it for a financial audit or an urgent credit request. Leverage the rules set forth in regulations such as HIPAA, Sarbanes-Oxley, GDPR, and other compliance requirements. By embracing these standards of control, you will benefit from data integrity, inherent productivity and a better customer experience.