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.

How document scanning can achieve efficient and cost-effective ways to stay GDPR compliant

An image displaying the words GDPR - it's time to comply. As a professional document scanning company, we can help every orginastion in Manchester, London, Birmingham and throughout the UK to comply by offereing efficient and cost effective document scanning services.

How document scanning can achieve efficient and cost-effective ways to stay GDPR compliant

As the UKs current Data Protection Act will be replaced by the General Data Protection Regulations (GDPR) in May 2018. Steps and procedures will have to be taken properly as the GDPR will come with a new set of data protection rules. Even though GDPR was designed to eliminate the likes of sever online hacks and cyber-attacks at vulnerable database data storage, paper documents are as important to the safeguard of your company’s data.

How will your manual document management systems be affected?

Paper files are much less private than digital documents, filing cabinets can be accessed by anyone and so you cannot be certain that customer data is not falling into the wrong hands. Not complying with the GDPR will result with fines of up to €20 million or 4% of your global revenue, which can soon add up.

Not complying with the GDPR will result with fines of up to €20 million or 4% of your global revenue, which can soon add up.

Paper documents are often duplicated making it difficult to know whether data has been destroyed completely or if copies are lying around. Document scanning can avoid this issue as it can ensure a single copy of your customers data which can be destroyed if necessary.

Paper document types

The majority of organisation across the UK will have paper documents that have been duplicated numerous times over the years and this is the problem that the organisations will have with paper documents. The solution is to convert your paper document to into digital files through a UK document scanning company. It will reduce the numerous copies you might have of same file and create a secure digital archive storage of documents.

The paper files can also be shredded, not only will it comply with GDPR but also freeing up masses of space in your office departments.

When a user requests for their data to be deleted from your data base. Deleting that one digital file can confidently reassure yourself that your company will be complying with GDPR and not have any copies of the that particular data related to the user.

As "Data Subject" is information related to a natural person the following types of paper documents will need to comply with GDPR:

  • HR record documents.
  • Client data
  • Medical files
  • Personal data

By scanning documents into an online system or opting for secure document storage your documents can be found easily and quickly to ensure that they legally compliant. A digital archive system can protect the data with secure passwords so that only authorised personnel can have access.

The idea is to give everyone the confidence that their data will be secure managed.

We have been and continue to be specialists in converting paper documents into digital data.

Expert advice can be given for the best solution on how you can comply with GDPR. Contact us today if you would like more information on scanning documents to digital files to comply with GDPR

What is GDPR

Image logo for the GDPR. The logo image is relating to the Pearl Scan blog post. The blog post is used to give users a basic understanding of GDPR and how organisations can begin best practices now for when the regulation launches in May 2018. As we are a professional data capture and document scanning UK company, we have to let our clients and potential clients that their data will be complaint to GDPR.

What is GDPR?

The GDPR is giving the EU citizens increased data privacy from the 25th May 2018. The European union has created GDPR to protect the EU citizens right and their data privacy.

GDPR is to Ensure that your data is your correct data, which will limit organisation in the EU from accessing your personal data. It doesn’t mean there's limits to what you can do with your data information. From the 25th of May, all data belonging to you is your personal data only. Personal data is all data about you including digital data that they can use to identify you.

This type of data can be collected from various ways such as;

This includes but not limited to email services, information and content on various online platforms including, insurance information, online behaviour, personal contact information and activity on your mobile devices etc.

Basically, everything there is to know about you and your digital life.

Your data should be handled lawfully, fairly and transparent to you. You will have to give consent for every form of your information to be processed. Appropriate safeguards must be put in place to protect your data from being misused and to protect your data privacy.

A data protection officer will oversee and monitor the data controller and processor to make sure your data is handled appropriately. If you reside in the EU, your personal data will be protected by the GDPR compliance.

Information about the data processing has to be given easily through understandable text outlining every single purpose of the data. Basically, terms and conditions will be restructured from legal text to readable text, making sure your consent can be withdrawn as easily as it was given. Furthermore, your right to data privacy is protected by default and by design

GDPR Compliance and Policy

The European parliament general data protection regulation comes into effect on the 25th MAY 2018. This will strengthen data protection for EU citizens and bring new changes to how businesses approach information security, data privacy and information governance.

The legislation is pivotal for businesses operating in Europe because GDPR sees introduction of mandatory security notifications which gives more freedom for citizens by how their personal data is used.

To achieve this, your company can take the following steps to start becoming GDPR compliant.

  • The one of the first steps you can take, make the employees aware GDPR and help them understand what it is and how it is going to affect your company.
  • To help make sure your company is using the private data correctly before the launch date. You can appoint a data officer.
  • Introducing a GDPR handbook can help employees even further.
  • You may have to audit your existing systems, procedures, contracts and supplier.
  • By having the correct procedures and good practice in place it can make it easier to detect, investigate and report breaches of security.

The market leading EU GDPR documentation toolkit contains a complete set of mandatory and supporting documentation templates that are easy to use.

How to demonstrate accountability under the GDPR

  • Keep up-to-date documentation of processing activities.
  • Appoint a data protection officer (DPO) if appropriate.
  • Implement measures to meet the principles of data protection by design and by default.
  • Implement appropriate technical and organisational measures (policies and procedures) to ensure and demonstrate compliance.
  • Conduct data protection impact assessments (DPIAs) where appropriate.

To ensure full compliance with the GDPR, you may also need to review the following documentation and policies;

  • Data protection policy
  • Training policy
  • Information security policy
  • DPIA procedure
  • Retention of records procedure
  • Subject access request form and procedure
  • Privacy procedure
  • International data transfer procedure
  • Data portability procedure
  • DPO job description
  • Complaints procedure
  • Audit checklist for compliance
  • Privacy notice

To find out more about how GDPR effects the way you store your paper documents, as well as how this may affect your scanned data stored in a digital format and steps that you need to take to have your documents / records scanned to GDPR compliance, please contact us for further details.