With technology and software the way it is these days, it’s easier than ever to do away with the administrative headache a paper trail can bring.

1. Managing Business
Expenses in the
Cloud

2. It’s 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, it’s
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
result
And 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.

3. There’s 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
they’ve paid.
Here are the benefits of creating a paperless office and
managing business expenses in the cloud:

4. • 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

5. • 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
That’s a pretty convincing list of benefits. And of course
you’re helping the environment too.

6. 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.

7. 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.
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