Document Archiving – The Top 3 Methods

Document archiving - The top 3 methods

Document archiving is usually a last resort but the reasons for it tend to be that you're running out of space, you need more space or you're just looking to de-clutter. Usually documents are archived when they are not used on a regular basis but may be needed again in the future. The need for archiving arises when those documents are taking up valuable space that could be used more effectively. However sometimes you want documents archiving that are in regular use too.

Many will choose traditional methods when it comes to storing away documents often not realising that there are superior and more modern choices that are highly beneficial to your company's wallet as well as the company itself.

In this article we'll go through three of the top choices when it comes to document archiving both traditional and modern in their technique. So, let's start with the traditional:

Traditional document storage

Document storage.

Document storage is exactly that, you store your documents away, usually in a secure storage facility. This is often the storage method of choice for those who want to keep paper copies of their documents but don't want, or have the room, to keep them stored on site. Although traditional document storage is on its way out in comparison to more modern methods, a lot of larger corporations still prefer to use it as their first choice, mainly as they have larger budgets to be able to afford it.

This is where document storage bares its Achilles heel; the costs. Traditional document is expensive because you are essentially renting a property purely to store your documents and with a lot of storage companies, you can incur a large fee to retrieve your documents too. Retrieval policies at these companies means that you cannot just head over to the facility to collect your documents when you need them, you will need to wait until the storage facility do it for you and mail or courier it over to you. This is both expensive and time consuming, especially when you need a document as soon as possible.

Document scanning to digital document management

document-scanning-archiving.

Document scanning is quickly becoming the fastest growing form of document archiving. There are specialist document scanning companies that will take your documents and scan them to digital files such as PDF and will then supply them on a disc, via FTP or into a digital document management system for you. This means that all your documents are still available to you at your office but they no longer need to be there in physical form. It also makes for more flexible and productive work as the documents are easily accessible and can be shared, emailed and printed as and when staff require.

While a lot of people swear by this as their archiving tool of choice, others sometimes believe it is not as secure as it should be. This can be easily altered, however, with secure software which locks folders on your computer that contain the documents so they can't be deleted or removed, accidentally or otherwise.

Document scanning is also relatively cheap, depending on the number of documents you have, with some projects completed for as little as a penny per sheet.

Scan on demand

scan-on-demand.

Scan on demand is a relatively recent scanning service. What scan on demand offers is a flexible way of document archiving which is the best of both worlds if you're not sure you're ready to make a complete transition to digital just yet.

So, what exactly is scan on demand? Well, your scanning company will store your documents, usually for very low rates to compete with document storage companies, and when you wish to have a document digitised and sent over to you for use, you simply call or email the company to request it.

A lot of companies are choosing this option as sustainable middle ground between the other two document storage choices. It does of course come with a storage cost, but the fact that you can request a file at any time and get a digital copy back to you, makes it a better choice than standard storage for many. After that you choose if you want to keep the paper copies or have them destroyed. When using this choice, make sure that the company can offer a quick turnaround of the scan on demand to ensure you are getting a better service than traditional document storage. A reasonable document request time for a digital file should be around 48 hours.

Each document storage option brings its own advantages which may suit your company best. If you would like some more information on the range of document storage services we offer here at Pearl Scan, get in touch today for a free, no obligation quote by phoning 0161 832 7991.

How to Automate Accounts Payable

time saving scanning

We are always looking for ways to speed up the processes we go through in our everyday life with the introduction of digital technology, so why not let that extend to your working life too with automation of accounts payable

Problems with manual processing

manual invoice processing

Processing accounts payable (AP) invoices by the traditional manual method has been throwing up a number of problems for companies in this fast-moving digital age. Some of the common problems faced in AP departments are;

-High costs per document filed.
- Space consumed by large volumes of AP documents.
- Time wasted manually entering all of the data.
- Risks such as loss of AP, human error entering the data and duplicated documents.

Having identified these problems, many companies go in search of a solution and that’s when they come across invoice scanning.

Invoice scanning

Invoice scanning lets you digitise accounts payable documents and store them more efficiently in a digital document filing system. Companies up and down the country have been jumping on board by switching to automatic invoice processing and why not? Many processes in business are already digital from using email to complete correspondence to the use of digital devices everywhere in the modern-day office so it just makes sense to move all business processes towards a digital method.

Why scan invoices?

Benefits of invoice scanning

By scanning your AP documents, you could benefit from one or all of these.

  • Save costs previously wasted on unproductive tasks and errors. (The number of staff needed to complete the task will also be reduced.)
  • Free up office space by destroying documents previously stored there.
  • Get instant access to AP files through simple text searches.
  • With fully searchable documents, you will reduce the amount of time needed to retrieve relevant documents and refile them.
  • You can also get shared access to documents so APs can be shared across different departments easily.
  • All files are more secure when stored in encrypted and password protected files reducing (and even eliminating) the risks of loss, theft and damage.
  • You will also be providing your AP department with an up to date record management system.

Scanning services

The best benefit of them all is that you don't have to try and do the scanning yourself because Pearl Scan can do it for you. Our invoice scanning service is completely bespoke and can be tailored to suit the needs of each individual company whether you're in Manchester, London, Birmingham or anywhere else in the UK.

Our data capture technology can digitise accounts payable documents in high quality with a quick, cost effective, turnaround which is why we have been trusted by a number of companies from a wide range of industries including legal, healthcare, education and finance.

For more information about our account payable automation services, check out our website or give us a call today to discuss your requirements.

Related articles:
How Can I Process Invoices Quicker?
Drowning in Invoices? There’s Just One Solution, Invoice Scanning
Importance of Invoice Processing and Scanning

How to Improve Accounts Payable Processes

invoice scanning and accounts payable automation for a better process

It's essential to implement strategic accounts payable processes that are fast, smart and cost effective

When it comes to chewing up resources, keeping numbers in check is one of the costliest and most time-consuming tasks a business is burdened with. For SMEs on tight budgets, it's essential to implement strategic accounts payable processes that are fast, smart and cost effective. So how can your enterprise augment its approach? Read on for an insider’s guide to improving your accounts payable process.

Utilising invoice data capture services

Today's SMEs enjoy access to cutting edge technologies, and your business should absolutely be leveraging what’s available. Invoice data capture services are designed to manage a myriad of statements and accounts, including supplier invoices, accounts payable, purchase ledgers, sales proof of purchase documents and more.

Typically, businesses are required to manually key paper invoices into their electronic accounting systems. However, this can be extremely time consuming and expensive, especially if professional accountants are paid to complete the process. This is where invoice scanning comes in.

Investing in a scanning solution will arm your business with the ability to automatically capture data in a matter of seconds. This makes the process fast, efficient, accurate and above all, cost effective. We can offer your business three flexible options, as outlined below:

a) We can collect your invoices on the required frequency. Bi-weekly, weekly or monthly - the choice is yours. This is a great option for business in search of a fully managed invoice data capture solution.

b) A dedicated P.O Box can be setup for your suppliers to send invoices to. This ensures that all invoices are directed to one mailbox where we can pick them up straight away.

c) You can scan and upload daily batches of invoices to our FTP. For businesses wanting to minimise costs yet still enjoy the peace of mind that their documents end up in the hands of the pros, this is a streamlined and cost-effective option.

Ready to supercharge your business with an automated accounts payable process that captures all your invoice data, as it arrives? Get in touch with us today to discuss your unique business needs, and how we can help.