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NOTE: Peter Braverman provides today’s guest blog, ‘How To Automate Your Financial Office.’

 

Peter Braverman is Vice President of Sales for Donnelley Financial Solutions™, a financial software solutions company.  He has 16 years of experience in the industry and focuses on selling SaaS solutions in the Capital Markets industry.

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How To Automate Your Financial Office

In the business world, time is money, and your business only has a limited amount of each. It is imperative to do what you can to ensure you use both in the wisest manner possible. For example, any idle moments that your employees or clients spend waiting for documentation cost you precious dollars. Paper documents alone represent a significant amount of the waste in most financial offices.

Not only do meeting requests for hard-copy paperwork take up a substantial portion of your team’s workday, but it also creates additional expenses. These include operating and maintaining printers, copiers, and other equipment. Of course, you also need to spend money on office supplies such as toner, ink, and the paper itself. All of the items add up, to the tune of nearly $120 billion every year for businesses in the United States. Estimations predict that the average financial office generates a staggering 10,000 individual sheets of paperwork annually.

Digitizing Your Documents Can Save You Time and Money

Becoming a paperless office could be one of the best decisions you can make for your firm. One of the primary advantages of going digital is eliminating the expenses and wasted time associated with hard copies. Your staff and clients can share and update documents over email and cloud-based platforms in the blink of an eye, thus drastically reducing the amount of time it may take for approvals and other processing tasks.

Automated software can also help reduce tedious data entry and the potential for human error. A single mistake or last-minute revision no longer means shredding reams of wasted paper. Your office can become more efficient, more responsive, and more capable of handling a heavy workload. 

There are other benefits to converting to a digital workplace, as well. For instance, automated data management software can help streamline your operations. Without the need to fill out invoices by hand or devote employees’ time to updating spreadsheets, your staff members can be more available to tackle higher-level jobs and focus on customer service. 

Digital documents can also make it easier for your business to get back on its feet following a disaster. Storing information in the cloud means you can access documents from virtually anywhere and at practically any time. Using the cloud enables your office to get back up to speed faster than if you remain steadfast to accessing physical copies stored in a single location. 

Thanks to digitalization, you may also be able to rest easier knowing you have more options for securing sensitive information. As remote work and telecommuting become a standard feature of the modern workplace, having your files and data readily accessible can make a big difference no matter where your employees are.

Embracing the fully digital office could make much sense for your business for more than one reason. If you want to learn more about the many advantages that digitization can provide and some specific tools and tactics to help you make the most of it, take a look at the accompanying resource:

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Sales Tips:  How To Automate Your Financial Office

1. Automate; however, you can save time, money and remain in business for the long term.
2. Going digital helps save trees and helps the environment.
3. Speak with an advisor regarding business strategies to save more and spend less.
4. Consider where you believe fees are too high and research the industry suppliers.
5. Review money in and money out to ensure all is above board.
6. Research the latest tax implications to save money.
7. Consider investing the extra cash sitting in bank accounts earning little interest.
8. Review all expenditures and stop the unnecessary services.
9. Invite input from employees to gain their insights per client requests and additional services to include.
10. Celebrate Success!

Today’s insights are provided to help you achieve the Smooth Sale!

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