can anyone answer this?

Question

what are the benefits to a business using a paperless working environment.

Answer 1

Paperless Engagement Systems Give Your Firm Big Five Efficiency - using technology to develop a paperless work environment - accounting firms
California CPA, Dec, 2000 by Dave Wyle
UNTIL RECENTLY, ONLY A HANDFUL of the largest accounting firms have been able to enjoy the benefits of paperless engagement systems. Using proprietary software applications they developed in-house, the Big Five has increased its efficiency and reduced the bulk of hardcopy paperwork. But with the advent of new technology, now paperless engagement solutions are available to the entire public accounting industry, making it possible for all firms to reach a new level of engagement effectiveness.

WHY GO PAPERLESS?

Going paperless can reduce costs and increase productivity by eliminating manual tasks, streamlining engagement workflow, and reducing the need for physical office space, since employees can gain access to work documents from any location.

"Not only are we more efficient since going paperless, but we're more consistent," says Tom Sulewski, a principal with Seattle-based Clark Nuber, a 90-employee accounting firm that specializes in auditing and taxation work. Sulewski says 90 percent of Clark Nuber's workpapers are electronic.

Advertisement

Further, Sulewski says going paperless has streamlined many office protocols that had become inefficient. "The whole conversion to the paperless environment has helped us rethink our process of doing the work," he says. "Why take a bad process and make it electronic? It's the perfect excuse to change some of those things."

WHAT IS PAPERLESS?

Paperless engagement systems are an electronic alternative to physical files and workflow procedures. They combine documentand project-management functions into a single application, customized to meet the specific needs of accounting firms. The document-management function is your electronic file room and engagement binders. The project-management function is the electronic equivalent of review notes, open-item lists, sign-offs, and other workflow-related items.

ELIMINATING MANUAL TASKS

In general, the most basic way technology automates an accounting firm is by eliminating manual and redundant tasks--in much the same way as using a spreadsheet program rather than a 14-column pad of paper streamlined workpapers. Similarly, firms now can automatically create engagements from customizable templates that include all of the workpapers, programs, checklists and other forms that would otherwise be included in a paperbased file, which eliminates time spent manually assembling binders. And because workpapers are never printed for inclusion in a physical file, no time is spent printing, mounting, reinforcing and redoing tick marks and other handwritten documentation every time a workpaper is modified.

Sulewski notes that a typical engagement during Clark Nuber's pre-paperless days generated three-to-four manual paper files. "Now that's been revamped, and it's really just one," he says. "Now all we keep is the hard copy of engagement letters."

STREAMLINING WORKFLOW AND COLLABORATION

Streamlining workflow and collaboration among team members is a significant benefit of the paperless engagement system. Time that team members normally spend searching and waiting for files now can be spent doing other things, because each member of the engagement team has simultaneous and instant access to all workpapers.

In addition, paperless engagement systems facilitate collaboration by enabling team members to exchange notes, sign-off workpapers, and perform other collaborative tasks online. With these capabilities, reviewers and preparers can effectively work together on a daily basis even though they are in different locations. This shortens the engagement life cycle and eliminates many trips between the client site and the office.

"There is always pressure to be efficient," says Sulewski. "We were doing all we could to cut corners to add value, but we had 20 different people cutting corners 20 different ways." But, paperless, Clark Nuber is more efficient. "People enjoy working this way. The ability to review and sign off on workpapers online is a new feature that we've played with and really like."

CHOOSING THE RIGHT TECHNOLOGY

While paperless engagement systems can be evaluated on multiple levels, two important criteria are the software's ability to work with the other applications your firm uses and its methodology for sharing engagement files.

Because a paperless engagement system ideally holds all the documents previously held by your physical files, it is important that it integrates well with the applications you use to create those documents (Microsoft Word, Excel, tax and trial balance are some you might need to integrate). Integration in its most basic form means that the paperless software can hold documents created by those applications. In a more advanced form it means the software adds capabilities to your existing packages. For instance, a paperless engagement system might have features that reduce data entry by allowing you to link client or engagement data directly into Word and Excel workpapers. It might provide the ability to file tax-return images directly from your tax package. And finally, it might have cross-referencing and online-review features integrated with the software applications you already use.

Answer 2

Going paperless is much quicker and more efficient. It also saves on the cost of paper and printing costs.

Answer 3

Technology, paper cost, BETTER FOR THE ENVIRONMENT!

Answer 4

yes

Answer 5

time and space saving and improved effectiveness

Answer 6

more efficient