Industry Overview

The general environment in the Accounting Industry has changed dramatically in recent years. As a result of Regulatory obligations and Legislative changes accountancy practices require to maintain files and records for years and years.

The business is characterised by a high volumes of paper. Even a small company’s annual audit file will run to hundreds of pages, not to mention tax files, Company Secretarial and General Correspondence.

Whilst manual filing will meet a practice’s obligations – the compilation, organisation, management and maintenance of these files is a very expensive process. If a Practice then adds the wasted time that the costly Accountancy Professionals and Trainees in the organisation spend locating, retrieving, distributing and refiling or returning documents to the detriment of time spent in frontline Client Service - a considerable total expense is evident. Furthermore, disaster recovery is nigh on impossible for the paper files.

In summary maintaining paper files opens exposure to risk of unnecessary cost, inefficient service, mislay & loss of evidentiary documents.

Adest enables Audit Files, Tax, Company Secretarial, General Correspondence and other documents to be scanned and stored electronically in a central system on the network. Consequently, any document can be retrieved instantaneously – the time spent looking for files is eliminated – for all Practice members. This enables queries – either internal from other practice teams or directly from the client to be handled immediately and documents can be distributed via print, fax or e-mail. A simply structured electronic store makes it easy for staff to locate documents and also aids compliance with regulations. It stops the growth of Filing Cabinets.

Many Practices start using the system for simple Storage & Retrieval – scan the file when it is finished rather than continue to build up paper Storage Mountains. Others progress with the system to also scan the morning post and send it electronically to the required departments or staff members – stopping or truncating paper in the post room or at the reception desk.

Adest integrates with many practice management systems including: Relate, Drive.

Major benefits

• Improved service – as a result of instantaneous access to all client documents to resolve queries
• Space Savings – no need to increase the number of filing cabinets nor incur cost of off site storage
• Productivity – reduction in time taken to complete tasks of filing, retrieval, distribution & re-filing
• Cost savings from reduced staff time filing, reduced stationery, paper retention, copier paper, cabinets and reduced office space
• Security- enhanced security as all client files can be backed up and the business can resume efficiently in the event of a disaster – which adds value to the business
• Aid compliance with legislation, regulatory authorities and client requirements.

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