Accounting Firms Document Management

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Accounting Firms


The business needs of a accounting firms are complex due to the nature of work, and compliance and confidentiality are the key aspects of the functioning of accounting firms.

Accounting firms need to be compliant with the norms of statutory bodies and regulatory authorities at all times. These comprehensive compliance requirements require managing client information that needs to be archived over extended periods of time.

The need for ensuring high operational efficiency, confidentiality of client's audit documents, compliance to regulatory bodies and maintaining service standards etc., are compelling reasons for Accounting firms to shift from manual processes to automated document management solutions.

Challenges in Audit firms for records management:

Chartered Accountants & Audit Firms - Challenges
  Traditional Process Doccept Process
Manual & Error Prone True False
Reduced Staff productivity True False
Misfiled documents, Loss of Documents True False
Confusion with duplication of documents True False
Fosters poor review & approval processes True False
Human Negligence, missed filing dates True False
Chartered Accountants & Audit Firms - Benefits
  Traditional Process Doccept Process
Organized data for auditing False True
Improved traceability of documents False True
Reducing storage and handling costs False True
Decreased reliance on physical documents False True
Rapid access/retrieval False True
Comprehensive security functions False True
Easier dispute handling False True
Automated document retention policy False True
Improved Cashflow False True

Challenges in adherence to processes:

  • Audit firms need to work in processes driven environment and absence of efficient methods to control documents has implications to the organization's reputation.
  • Challenges in retrieving physical documents, cost of misfiling and outright document loss all contribute to increased overheads, additional effort and poor service.
  • Potential risk of liabilities & Penalties, loss of goodwill resulting from failure in various filings of tax or statutory returns due to loss of documents.
  • Collaboration by multiple users on a common Audit document is not very efficient.
  • Backup of client data is a major challenge and highly time consuming, needing constant maintenance by IT department.

Centralized Repository Management with Doccept

Doccept is Accounting Firms Industry ready DMS! Our DMS solution starts from the premise that the content created in any form becomes a key organizational asset and is easily accessible to anyone in a team who needs it, and has authority to view it and inaccessible to anyone who doesn't.

  • Predefined folder structure of Doccept as per Accounting Firms industry requirements, helps audit firms to migrate from physical document storage to Doccept in a very little time.
  • Enables compliance with regulations and norms of ROC, IT, ICAI and ISO etc.,
  • Provides firms with far stronger control over document security and access, traceability and accountability for audits and peer reviews.
  • Alerts and notifications at document and folder level enable users to be proactive than reactive on client and compliance management.
  • Version Control ensures that every version created by each user is tracked.
  • Streamlines the efficiency of your organization by automating your business practices using workflow.
  • Reduced IT Maintenance due to the benefits of regular backups (incremental and overall).