banks often provide the scanners.
by roman h. kepczyk
quantum of paperless
one of the easiest processes to convert to paperless with an immediate roi is the firm’s system for depositing client checks. manually receiving and physically going to the bank to deposit checks can be time-consuming and subject to too many errors.
more: going digital with a/p processing | how an ‘owner’s drawer’ boosts security | the top portable monitors for auditors | why scanning procedures matter | using databases for document management | survey: firms split on mobile device management
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the manual procedure requires firms open mail on a daily basis, make copies to file in a binder, complete deposit slips and then send a person physically to the bank, which can easily take a half hour every day, five days per week, 52 weeks per year.
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