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FlexiSolutions - Flexi Workflow System (EDW)

Benefits of using Electronic Document Workflow

Differences between paper workflow and electronic workflow with the Electronic Document Workflow solution by MDDP Outsourcing: Flexi Workflow.

  1. Acceptance of documents: proven procedures and taking the burden off the Client.

    This is the first stage of document workflow, often trivialized, but unreasonably so. At this stage, the document receipt date is assigned, which is important for VAT purposes, among others. This means that errors in records of documents coming in may lead to incorrect VAT records. Note that this step is a complex one; it may involve acceptance of either paper or electronic records.
    Differences between paper workflow and electronic document workflowNext, we can distinguish the so-called original documents and copies. The type of each document has to be identified so as to avoid errors consisting in a double entry of the same document. With Electronic Document Workflow, all these specificities can be dealt with by delegating document workflow to MDDP Outsourcing, which has in place appropriate, tested, and proven procedures. In paper workflow, however, it is the Client that needs to ensure compliance at this stage.
  2. Cutting down the time between the moment a document is received and the moment authorized users can sign it off.

    In paper-based workflow, the time between a document is served to the reception and the moment when all authorized staff sign it off obviously depends on how many users need to sign off the document. However, it also depends on whether all the staff concerned are available and at the same location, and on whether the document does not get “stuck” on somebody’s desk. Electronic workflow does away with geographical problems and provides a solution to the issue of stalled documents, as you can always check who is responsible for the delay.

  3. Quicker and easier search for archive documents.

    Paper documents can be browsed in binders, which, as everyone who has the experience surely knows, is a tedious task. With Electronic Document Workflow, we are able to find any documents without ever visiting the archives. This is just one of its many advantages. We can also browse records using multiple filters, instantaneously. For more complex inquiries going beyond finding a single document, e.g. looking up documents received from party A over a period of one year, what takes just a second with Electronic Document Workflow can take forever in an archive where documents are ordered by date. Moreover, it is worth noting that paper documents need to be returned to the archive after reading, which is another step that entails the risk of misplacing documents. With EDW, there is no such risk.

  4. Request for details of several companies from one group presented as one clear report.

    If necessary, we can find any documents required (or financial details of a number of companies) using the MDDP Outsourcing Electronic Document Workflow with a single query; all we need is access to the companies in question. Searching for the same documents in binders is time-consuming, and as for search in accounting databases, it requires logging in and out of databases of various companies. Details of each company then have to be combined manually into one summary report containing the requested data.

  5. Linking invoices to contracts: a small detail that makes a big difference.

    It is often the case that in order to sign off a document or even check a fact, you need to consult a specific contract. With the workflow used by MDDP Outsourcing, it is possible to link documents to contracts, which makes the process as simple as it gets. This can be done by clicking a link displayed next to every document. Contracts are also available online, which eliminates all the inconveniences of storing scans in your inbox, network drive, or in different folders and under different names.

  6. Your staff might be keeping some documents without the organization knowing–eliminating a serious risk.

    In the case of paper-based workflow, it may so happen that the staff (often accidentally) misplace some documents. Even if a document is “lost” temporarily, for instance put in a drawer and forgotten, the damage to the organization may be severe. Contractors not paid on time, lost contracts, termination of lease purchase or rental agreements, cutting off power, to name just a few consequences of leaving documents in a drawer that we have come across. Such situations virtually never occur when EDW is in place. Documents, even if not signed off timely at one stage or another, are constantly monitored, making it impossible for them to get misplaced.

  7. Access to documents: convenience and faster processing.

    EDW is an online tool available for both desktop computers and mobile phones or tablets. This means that documents can be signed off at any time and any place. This greatly facilitates and speeds up document workflow, making it independent from delegations or other absences. In paper workflow, documents need to be approved when the staff are physically present in the office, which may lead to delays.

This is one of the reasons why most of the Clients who use our accounting services choose electronic Document Workflow. Notably, EDW is available also for companies that do not need our accounting services.

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