Why go paperless: 5 advantages + the best tools!
Have you already switched to paperless accounting?
If not, this article will convince you.
Dematerialized accounting offers numerous benefits, particularly when it comes to processing supplier and customer invoices: cost reduction, productivity gains , better traceability of operations, etc.
In this article, we explain these benefits in detail.
And since the dematerialization of accounting processing goes hand in hand with the use of appropriate software, discover a selection of tools to help you get started.
Definition and objectives of accounting dematerialization
Dematerialized accounting is the process of minimizing the use of paper documents (invoices, purchase orders, etc.) in accounting and pre-accounting processing , thanks to the possibilities offered by digital technology.
Two main technologies are used to achieve this:
- ADR (automatic document reading): this enables data to be read and then automatically retrieved during scanning;
- OCR (optical character recognition), or video coding: a text file is created from a scan of a paper document, or from a digital image.
At the same time, dematerialized accounting implies a fluidification and automation of information flows (from your customers or suppliers, for example) and activities, thanks to certain actions enabled by dematerialization solutions.
These include
- digitization and transfer of paper documents,
- archiving documents on a platform,
- easy searching of these documents on the same platform,
- automatic data retrieval via the LAD and OCR technologies mentioned above, etc.
The 5 benefits of paperless accounting
Benefit no. 1: lower costs
According to the European Commission, European companies could save 64.5 billion euros a year by opting for paperless accounting.
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The cost of paper and printing, renting premises large enough to accommodate archiving devices, longer processing time per invoice... Handling your accounting manually represents a cost, which is greatly reduced thanks to dematerialization.
Benefit no. 2: time savings
According to Spendesk, dematerialized accounting and associated technologies reduce the time spent on an invoice by a factor of 5. This is because they avoid, or at least facilitate, a number of manipulations. We're thinking in particular of manual data entry (invoices, expense reports, etc.), which takes up a lot of time!
What's more, thanks to dematerialization, searching for a document in your archiving system also becomes quicker and easier.
☝️ This time saving is invaluable for accounting teams. Freed from manual tasks, they have more time to devote to higher value-added activities, such as accounting and financial strategy.
Benefit no. 3: fewer errors and losses
Manual bookkeeping means stacks of paper piling up on your desk or your accountant's desk... which means you need to be really organized to find your way around and not lose anything. What's more, incidents and disasters (fire, water damage, etc.) can also damage or even wipe out your accounting documents.
What's more, to err is human! And manual data processing sometimes leads to data entry errors.
With dematerialized accounting, data is automatically processed using LAD and OCR technologies, and documents are securely archived in a digital safe.
Benefit no. 4: Improved customer relations
By switching to paperless accounting, you reap the benefits... and so do your customers!
Thanks to the time savings mentioned above, you can devote yourself more regularly to strategic missions, positioning yourself as an advisor rather than a mere operational executor.
What's more, paperless accounting lends a modern image to your services, and provides real added value for your customers.
Your customers' transactions are also simplified, as they no longer need to travel to your office, your company or the Post Office to send you their documents.
In some cases, even a scanner becomes unnecessary: most dematerialization solutions allow documents to be transferred using a single photograph taken with a smartphone.
Advantage no. 5: environmental benefits
Dematerialization = less use of paper and fewer trips to circulate documents.
As a result, dematerialized accounting fits in perfectly with your company's CSR (Corporate Social Responsibility) policy. By reducing your environmental impact, you'll be helping to convey a positive image to your customers, partners and future recruits.
Convinced by the advantages of paperless accounting? It's time to find out which software will enable you to reap the full benefits.
Which accounting dematerialization software?
What are the obligations of paperless accounting?
It's important to note that the move to paperless accounting involves meeting certain legal obligations.
Dematerialized documents must have probative value, i.e. constitute admissible evidence, particularly in the eyes of the tax authorities.
Note, for example, that an electronic invoice must meet a number of criteria, including :
- document validity and integrity
- document legibility
- authenticity of signatories' identities,
- certified time-stamping of documents.
That's why you need to select compatible dematerialization solutions.
💡 Since January 1, 2020, any company supplying services or goods to the public service has been obliged to carry out electronic invoicing, via the Chorus pro portal.
IRISPowerscan: invoice dematerialization for SMEs
By digitizing and capturing data, IRISPowerscan helps SMEs of all kinds to process their pre-accounting.
While the software is aimed at a wide range of sectors and enables the dematerialization of various types of document, it offers an invoice module that is ideally suited to the needs of small and medium-sized businesses.
IRISPowerscan lets you scan and import documents from a variety of tools (scanners, e-mail, etc.).
These documents are then automatically classified, eliminating the need for manual encoding of invoices. Finally, the data is transferred and saved directly to your accounting application.
Receipt Bank: dematerialization and automation for accountants, VSEs and SMEs
With Receipt Bank, chartered accountants, VSEs and SMEs can automate the collection, data extraction and publication of purchase invoices and expense reports.
This Saas-based solution makes data collection for purchase invoices and expense reports much easier. Customers simply send their documents by photo (via a mobile application), by e-mail or via connectors.
On the accounting side, data extraction is automatic, thanks to technologies offering a 98% recognition rate. All that's left to do is integrate the data in a few clicks into a management software package (such as Quickbooks or Ibiza) and process it.
A win-win solution for both the accounting department and the customer.
Spendesk: from expense dematerialization to accounting automation
Spendesk is a solution for visualizing and controlling all company expenses within a single interface.
The solution reduces the number of manual entries by automating a maximum number of tasks. This avoids double data entry (and the errors that go with it), ensures that all receipts relating to purchases and expense claims are present, and automates bank reconciliation and account entry. When everything is in order, you import the data directly into your accounting software with a single click!
This saves you time, which you can allocate to higher value-added tasks, and gives you peace of mind when it comes to the reliability of your data.
Streamline for Invoices: the dematerialization of supplier processes
The promise of ITESOFT's Streamline for Invoices? To digitize procure-to-pay processes, i.e. the supplier cycle.
Thanks to a shared and constantly enriched supplier database, the technology for capturing and extracting invoice data is reliable, with a recognition rate of 85%.
Secondly, accounting processing (order reconciliation, for example) is automated directly within the application.
Finally, thanks to its BPM (Business Process Management) architecture, Streamline for Invoices is flexible to adapt to your organization and working environment.
Have you already opted to dematerialize some or all of your accounting processes? Which tools do you use? Tell us about your experience in the comments section.
Article translated from French