| The method of managing an organization's documents | | | | Paper document scanning will also help in effective |
| and their life cycle in such a way that documents can | | | | paper document management in small companies. |
| be created, reviewed, shared, organized, stored and | | | | Mostly companies offering high quality service are |
| destroyed efficiently is called document management. | | | | preferred for scanning. Scanning prevents record loss |
| Paper document are the essential information center | | | | and provides secure about digital documents, easy |
| to take any decision successfully. One cannot take | | | | retrieval, high portability, reduce storage space and |
| useful decision without proper management of paper | | | | improve productivity. |
| document due to lack of information. Any business | | | | Currently companies are streamlining their work flows |
| either big or small must always deal with accounts | | | | by converting paper documents to digital. Through |
| payable and accounts receivable processing to handle | | | | digital document company can decrease stress of |
| their invoices and bill payments. | | | | staff as well increase the productivity. Some |
| There are several new and promising technologies like | | | | companies use a vendor that provides document |
| online bill payment, electronic invoicing, P-card that | | | | management as a service, whereby documents are |
| promises to remove the paper based processing from | | | | picked up and taken to an off site facility for |
| the accounting department. some companies offer | | | | processing. Devising, implementing and managing a |
| data capture solutions specifically developed to | | | | document management system is challenging. The |
| convert all the paper based invoices, checks, bills, and | | | | following aspects should be take into consideration |
| other documents into data which is to be sent to the | | | | when crafting a document management plan: creation, |
| accounting or ERP systems. By using software for | | | | storage, retrieval, filing, security, archival, retention, |
| accounting data capture, they have increased the | | | | distribution, work flow, and disaster recovery. These |
| efficiency of their accounting departments and | | | | are the some of the methods through which |
| achieved significant productivity gain in processing their | | | | companies manage their paper documents. |
| accounts payable and accounts receivable data. | | | | |