Digital accounting – a great solution for efficiency and cost savings
The tedious process of manual recording of all incoming invoices is now history. The shortage of skilled and qualified professionals and the availability of increasingly sophisticated software solutions contributed greatly to the development of digital accounting. Digital accounting has made life much easier for bookkeepers, as incoming accounting documents can now be scanned and recorded digitally, and up-to-date daily reports can be created at any time. You no longer have to search for invoices. The original documents are retained and, in most cases, never leave the office. Most payments are automated.
All data can be stored electronically and transferred securely to external accounting service providers. According to surveys, cost savings related to digital accounting amount up to 40%.
What are the benefits of digital accounting?
Digitization/scanning of incoming documents makes further processing much easier. Digital accounting also drives economic innovation and speeds up conventional accounting processes. You save on paper costs with digital accounting. Modern, digital processes are more environmentally friendly. Thanks to digital accounting, you need less space for your archives, or you can completely eliminate physical archives. You also save on folders and office supplies. By scanning receipts and other accounting documents, all important information is promptly available for digital accounting. Data are backed up multiple times and stored on a server. Files can be shared with accounting service providers and business consultants at any time, regardless of location. Besides significant time savings, you can completely eliminate certain cost items with digital accounting.
Simplified and digitized processes mean that you don’t need fixed personnel and related infrastructure. Digitized accounting reduces evaluation times and contributes to the successful operation of your company.
Besides hardware and software, you also need appropriate know-how
Qualified personnel, who can handle modern technology and digitize documents, is indispensable for digital accounting.
To simplify and speed up work processes with complex software solutions, appropriate specialist knowledge is required. Also, continuous training is a must to ensure that you can use the latest digital accounting solutions for maximum convenience. Digital accounting also requires profound knowledge of laws, regulations and accounting practices. Foreign companies in particular might often find it difficult to meet all those requirements. Due to the increasing cost of technology and modern office space, many companies opt for outsourcing their accounting to third party experts. Specialized accounting firms have extensive knowledge of local regulations, tax and social security laws and accounting practices, and help companies free up a lot of resources.
Companies can focus on their core activities and have more time available for taking important decisions.
Digital accounting requires fully digital technology
Many companies are completely overloaded with trying to keep up with rapid technological changes and the digitization of documents. For this purpose, experts at https://rbo-online.de/ have developed and adapted technology for modern use and for competent digital accounting.
With over 21 years of experience and specialized in digital accounting for foreign companies, RBO is your reliable and professional partner in this field. Besides complete digitization, we will take over your comprehensive company processes and managed them flexibly and professionally. Not many experts are specialized in foreign companies. With our extensive experience and expertise, we take over all your accounting tasks and processes, including tax related matters, and also manage communication with authorities and supervisory bodies for you. Visit us at https://rbo-online.de/ to find out more about our services.Trust us and let us help you with professional advice.