What is document management for accounting firms?

Document management for accounting firms is a specialized system that helps accounting practices organize, store, secure, and track financial documents and client records. It includes features like automated workflows, version control, audit trails, and integration with accounting software to streamline document handling processes.

How does RevverDocs help accounting firms with compliance?

RevverDocs helps accounting firms maintain compliance through features like audit trails, document retention policies, access controls, and encryption. The system tracks all document activities, ensures proper retention periods are met, and provides secure access to authorized personnel only, helping firms meet regulatory requirements such as GDPR, SOX, and IRS guidelines.

Can RevverDocs integrate with existing accounting software?

Yes, RevverDocs is designed to integrate seamlessly with popular accounting software including QuickBooks, Xero, Sage, and other major accounting platforms. This integration allows for automatic document capture, streamlined workflows, and easy access to documents directly from your accounting software.

Is RevverDocs secure for sensitive financial documents?

Absolutely. RevverDocs employs bank-level security measures including end-to-end encryption, secure data centers, multi-factor authentication, and detailed access controls. All documents are stored in encrypted format, and the system complies with industry security standards to ensure your sensitive financial documents remain protected.

How can document management improve efficiency in an accounting firm?

Document management improves efficiency in accounting firms by eliminating manual filing, reducing time spent searching for documents, automating approval workflows, enabling collaboration among team members, and ensuring quick access to client information. This allows accountants to focus more on value-added services rather than administrative tasks.

Why Document Management Is a Must-Have for Accounting Firms

by Toni Linsenmeyer | Mar 1, 2023

Does your work seem to revolve around documents? Specialized documents and forms are the lifeblood of certain finance functions, especially for those in the business accounting industry. Client financial data that your accounting professionals deal with are all recorded on different documents that need to be carefully organized and secured. Handling a high volume of documents takes time and attention away from the critical tasks like working with clients, planning new financial strategies, or implementing the best cost-saving methods for your accounts. Documents are central to your business, however, they don’t need to be your singular focus. Document management exists to stop you from having to put more focus on your documents than necessary.

Automation to the Rescue

Every document produced by your organization adds a certain amount of time to your workday from storing, processing, and securing them. Instead of dedicating a large portion of your day to dealing with this document work, you can rely on intelligent software that simplifies your document processes and becomes your business partner. Adding automation tools that handle several of these processes will save you more time than you realize. Revver can handle this and more.

Automated Data Extraction

Every form submitted by your client contains important data points that are essential to you and your team. Whether you’re streamlining payroll, tax filings, or anything else, your clients depend on you to extract data accurately and quickly. When done manually, data extraction might be quick or accurate—never both.

Download Guide: Prevent Mistakes and Setbacks With Accounting Automation

Automated data extraction is possible thanks to optical character recognition (OCR) and automation rules that you create for certain document types. Zonal OCR is a component of Revver that allows you to upload a document while the system recognizes and extracts pertinent data. This automated data extraction allows the system to read the text on selected fields of the document to turn it into usable data for automated workflows and other processes.

Automation Rules

The life of a document doesn’t just stop once it’s filed into the correct location in your system. When it arrives at its destination, there are still plenty of automated actions that can be taken to ensure your document remains secure and compliant. With document management, you can apply simple rules to a folder to notify a user when a document is uploaded, downloaded, or deleted. If you’ve collected new forms from your client, their account manager can be notified at once. Another component of automation rules is document governance, which can automatically apply retention rules to every document necessary. You can guarantee specific documents are protected from deletion or editing, and also have the correct expiration date for when you’ve kept them for the minimum amount of time required by compliance standards.

Automated Workflows

Revver offers a simple solution for streamlining all of your repetitive processes that require manual labor. These processes may be filled with steps like document routing, approvals, signatures, requesting documents internal or externally and more. Automated workflows provide you with great freedom to create any kind of workflow, which can also be edited and improved at any time. A workflow dashboard gives you visibility over all your current workflows as well as history of processes with an overview of successful processes and unsuccessful processes. Automation with document management can be the solution you need to transform your business’s processes and become a centralized storage solution for the hundreds of documents you deal with daily. If you’re ready to see how document management can work for you, let’s talk.

Discover Revver