Massive advances in storage technology are now making it possible to maintain digital images of every document that composes the legal and financial identity of a business. In the near future, it may no longer be necessary to throw anything out — ever.
At the same time, it is becoming easier than ever for important documents in digital format to travel around the world whenever needed. An expense report, for example, can be written in British Columbia and make its way to Monaco in a matter of seconds.
Now, companies need to partner with software providers that will work as an extension of their own capabilities. One of the easiest ways to get started eliminating the costly and inefficient paper processes still in the office is to automate your travel expense report process.
Your Travel Expense Report Can “Travel” Worldwide With One Click Of A Mouse
Everyone knows they should maintain every receipt related to business for several years to meet tax reporting requirements. When a large, international corporation needs to prove compliance, it may need materials from decades ago.
Receipts are typically the “weak link” in the travel reporting process, because they can so easily be lost or destroyed. It may even be possible for people to falsify receipts if they act in bad faith. On the other hand, capturing a permanent copy of a receipt could be challenging.
Receipt imaging through mobile technology makes it possible to “pass on” a digital copy of a receipt without having to keep the original indefinitely — and it can be done from anywhere worldwide with the right technology.
The Time To Move Travel Into The Cloud Is Now
Cloud technology has already made it easier than ever for colleagues to meet when they may be six or seven time zones away. Now, you have the opportunity to start streamlining your office into a completely paperless workplace.
Once businesses go paperless, the sky is the limit. Beginning with the travel expense report, you could easily find that your business captures great savings by “home sourcing” your workforce and allowing personnel to operate in a decentralised way.
However, you have to begin somewhere — and starting with the items that could have the most significant compliance consequences is the most efficient path to follow.