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Case Study: Financial Records (common)

Storing financial records is essential for compliance with IRS regulations, requiring retention for 3-7 years. However, the traditional methods of organizing and recalling these documents can be time-consuming and costly both financially and environmentally. DA Document Manager offers a solution by allowing users to scan hardcopy documents or archive digital records in PDF format. This streamlined approach not only saves time but also reduces costs related to consumables and storage. Additionally, utilizing user-defined tags can enhance organization and tracking of financial documents.

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Case Study: Financial Records (common)

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  1. Case Study: Financial Records (common) The Problem: • Everyone needs to store financial records • The IRS requires we maintain our financial records for 3-7 number of years • Storing and recalling documents take time • Organizing financial records is time consuming and has its costs both financially and environmentally

  2. Case Study: Financial Records (common) The Solution: • Financial records can be stored in DA Document Manager • Scan hardcopy papers or receipts • Online or digital records in PDF file format can be easily archived • Other online or digital records can be “printed” to a PDF file and then archived

  3. Case Study: Financial Records (common) Use of Dates: • Using Date Processed as the "Order Shipped" date, separate from the Date on the Document as the "Date Ordered" will really save time Document Title: • Name of the Vendor Keywords: • Order number

  4. Case Study: Financial Records (common) User Defined Tag 1: • Needs Attention - For quick to do lists User Defined Tag 2: • Incomplete Shipment - tag to track back orders Passwords: • Use passwords to protect sensitive information like; bank statements, credit card statements, income and other financial related items

  5. Case Study: Financial Records (common) Financial Categories: • Banking • Credit Card • Insurance • Medical • Mortgage • Payroll • Store Receipts • Tax • Telephone

  6. Case Study: Financial Records (common) Subcategories: • Legal • Monthly Bill • Receipts • Reference

  7. Case Study: Financial Records (common) Value Proposition: • Low entry cost, high ROI • Adding documents is fast and easy • Greatly decrease the time to locate a document • Reduce the cost consumables (paper, ink, toner, files and storage space) and carbon footprint • A backup is very quick and easy to perform • Multiple users can access the same archive

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