DMS Proving To Be A Game Changer for Accounting Firms and Their Clients

Original Post: CPA Practice Advisor Written by MATT PETERSON, CEO OF EFILECABINET

There are many reasons Document Management Software (DMS) is better than traditional paper filing systems, from superior organization and security to increased productivity and profitability.

Using a paperless office is a win-win for both businesses and their customers. It allows them to be more transparent with customers and improves office efficiencies.


The biggest benefits of such a system are:

Financial: Mailing millions of customers’ paperwork, such as statements and notices, each month can become expensive. A robust DMS system enables archived and stored emails to be sent via traditional emails, and, if integrated into a secure web portal, confidential files can be sent securely via the web. This saves a vast amount of money in printing costs and postage.
Saving Business Time: A good DMS allows employees to be utilized for more important purposes than pushing paper. DMS is a management tool that reduces paper dependency so that folding and stuffing envelopes becomes a thing of the past. Perhaps the biggest savings realized by businesses is in time spent searching for client information and missing or misplaced files. All documentation is at your fingertips with a simple click of the mouse.
Saving Customers Time: Instead of calling to find out if or when a transaction has come through, customers can simply view their transactions and statements online, even from a smartphone or tablet. This decreases telephone hold times and creates more satisfied customers.
Compliance: Businesses must comply with many different legal standards and maintain secure systems to protect their customers important information. Many companies must also follow complex statutes and regulations, including those set forth in the USA Patriot Act, the Right to Financial Privacy Act, and the Fair Credit Report Act, all of which can change from time to time. Using a secure, compliant DMS gives companies the peace of mind that their information and their customers information is being held in a safe and reliable yet easily accessible location…