Managing Business Expenses in the Cloud

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Managing Business Expenses in the Cloud
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• Its only a matter of time before paperless
  offices become the norm rather than the unusual.
  With technology and software the way it is these
  days, its easier than ever to do away with the
  administrative headache a paper trail can bring.
• Recent research found that 35 of the businesses
  surveyed had adopted paperless policies and were
  consuming less paper and increasing productivity
  as a resultAnd consider how we work these days.
  So many of us have mobile offices or work
  remotely. Hard copies of business expense
  material whether it be invoices, receipts or
  payslips is just not a practical solution
  anymore.

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• Theres a really interesting theory we read about
  recently called The Theory of Constraints
  (TOC). TOC says that a system is controlled by a
  number of constraints and the secret to improved
  productivity is to identify the major constraint
  and then focus resources on fixing that
  constraint.
• When we speak to our clients, one of the big
  constraints they identify is managing expenses
  because of the paper trail they create.
  Especially at this time of year (tax time!) when
  people are scrambling around for copies of
  receipts, bank statements and invoices theyve
  paid.
• Here are the benefits of creating a paperless
  office and managing business expenses in the
  cloud

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• Less spend on storing archives and records
  through saving money on offsite storage costs or
  even on archiving material such as filing
  cabinets, storerooms, folders and binders
• Save on office stationery costs with less copy or
  printing paper required
• Easy access to real time information for the
  accounts payable team
• More space in your office and less clutter
• Higher productivity levels amongst employees

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• Digital copies of receipts stored in accounting
  software and transferred to the profit and loss
  statement with less data entry requirements
• Minimise human error by automating expense
  payments and bank reconciliation capture
• Thats a pretty convincing list of benefits. And
  of course youre helping the environment too.

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• So get yourself out from under that pile of
  paperwork and streamline the productivity of
  yourself and your business.
• Xero and Intuit QBO have some user-friendly
  expense management software that will make the
  transition to a paperless office painless. Or use
  smart apps such as Hubdoc and Receipt Bank will
  change the way you capture business expenses.

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• Chat to us or your accountant about ways you can
  go paperless. Starting with streamlining your
  financials will not only de-clutter your office,
  it will de-clutter your business process which
  means more space for growth, development and a
  healthy bottom line.
• https//www.ikeep.com.au/