Manage Documents and Finances
While they may not be as exciting as a brand new product or service, financial records are an an essential part of running your business. They provide you with a glimpse into the financials of your business and help you make informed decisions.
A business should ensure that all financial documents are properly organized and accessible. This includes everything from accounts payable and receivable, to payroll and inventory. This will help you avoid missing opportunities and improve your cash flow. Furthermore, properly managed financial documents can help businesses keep in line with regulations, avoiding fines and other penalties.
All your financial documents in one place. Examine your kitchen counter the entryway desk, your home office the trunk of your car or garage, basement or any other area that you often accumulate documents. Then, you can dispose of unnecessary paperwork such as junk mail, expired coupons, and catalogs. You might also want to eliminate old product manuals, as well as other documents that are not used or no longer needed. After you’ve collected everything, put your papers into categories. For instance, you may have sub-categories that organize your credit card or policy. If you’re using a digital filing system, create folders for each category and use consistent naming conventions (e.g., “Year-Month-Day_Description”). This will make it easier for you and everyone else who might need access to your files later.
If you’re looking to store your documents for the long run, choose a storage solution that is secure and easily accessible. Some options include filing cabinets and offsite storage as well as a cloud-based document management system. With the second option, you’ll be able to instantly access your documents from any location with permissions-based access that can be monitored and controlled. A DMS can also automate workflows to trigger alarms and escalation in order to ensure that processes are followed, which reduces the need for manual handling and errors.
Financial industry documents are diverse and include everything from power of attorney forms and conservatorship papers to commercial account records and bank account records. Additionally to this, there are numerous documents that are required by regulators, like Sarbanes-Oxley, FRCP, SEC, Graham-Leach-Bliley and other laws that require proper control and management of sensitive information.
It’s important to find an option that is user-friendly and integrates with the other systems in your organization to meet your needs. FileCenter is a great option because it’s inexpensive and does not require a subscription, and is compatible with any device. It’s also compatible with the majority of cloud services to facilitate file sharing by remote employees. If you’re interested in making the switch Contact us today to learn how FileCenter can help improve your financial and document management processes. We offer a free 30-day trial and a demo without obligation. We look forward to hearing from you!