Book-keeping and financial management can be a complex task for companies of any size, but businesses with a small number of employees may find it particularly difficult. A study by Hiscox found that many are still having trouble accessing finance – despite the introduction of lending schemes – while fewer small business owners are optimistic about their prospects than they were just a year ago.
At the same time, new regulations are continually coming into fruition, further adding to the burden of red tape that entrepreneurs have to wade through. A good example can be found with the auto-enrolment pension initiative. The Government gave firms with fewer than 50 employees extra time to prepare for this – starting from May 2015, instead of April 2014 – but these constant requirements can place pressure on smaller businesses.
One thing that could help to streamline the finances of small businesses is to ensure that anything that can be simplified gets done and put to the bottom of the to-do list right away, leaving time for more pressing and difficult tasks. To this end, the implementation of document storage software can be a great solution for companies that do not have large ranks of employees. By digitising those inevitable reams of paperwork that clutter up filing cabinets and office space, making it difficult to find things that really matter, much time and money can be saved.
Electronic document management software, such as that from Dajon, is able to store scanned images and text that can easily be accessed by those who need it, but kept safe and secure from prying eyes. It’s also there ready to be mined, should an audit roll around or an outside organisation call for a particular document out of the blue.
Dajon can help you to manage your documentation online – get in touch today to arrange an informal chat about your requirements: contact us