By Joan Honig, DocuWare: The way you store your accounting documents has a huge impact on your ability to plan ahead. When documents are difficult to retrieve — or go missing — it can create serious problems during your next audit and limits your ability to produce detailed cost analyses and plan budgets. Effectively managing accounting documents to meet legal and regulatory requirements should be a core priority for every accounting department.

Safe archiving technology supports this effort by preserving documents and data that enable your organization to better track accounts payable, accounts receivable, operational and capital expenses, and cash flow. Accurately indexing these documents makes them easily searchable for speedy retrieval. Clearly defined access rights, stringent information organization and advanced security support compliance initiatives such as GDPR, HIPAA and Sarbanes-Oxley and simplify retention policy enforcement for confidential documents.

Using a document management system to store accounting documents enables an accounting department to develop better data controls in these five ways:


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