Advantages of Paperless transactions and plastic money

Yashwant Kale General, General Knowledge Leave a Comment

Most businesses are unaware that they spend nearly 31% of the average working day’s time looking for documents. Moreover, substantial time and value is also lost by way of misplaced or lost documents which involve double effort and time to replace or get back. This calls for a paperless situation which has some tremendous benefits.

Storage is easy: Your digital system for document management enable you to scan and electronically store all documents that come and go from your office. This not only saves valuable space but makes it easy also to transmit them electronically to all concerned.

Automatic audit: Nowadays, all businesses are required to adhere strictly to compliance guidelines which stipulate record storing for a number of years. Any digitized document system has a large storage capacity that enables storing of a huge amount of documents, each with a separate number. This automatically generates an audit trail and empowers the business to alter documents while still retaining the original, in keeping with audit and compliance guidelines.

Saves time: You need not waste time searching for documents anymore. Your search will reveal the desired results immediately. Just key in the number and see it on your screen or take a printout. It’s that simple.

Simplicity: A digitized system for document management simplifies most business processes. The users can authorize or action tasks while also transferring data at the click of a mouse. Placing orders for goods or authorizing invoices are two good examples of regular tasks that can be handled more efficiently through digital means.

Accessibility: A digital document system enables the creation of security settings that maintain their confidentiality while also giving all concerned and authorized users the power to view a particular document through secure servers. This also prevents illegal document tampering and works well where multiple sites are involved.

Business development: The valuable time saved through the use of paperless systems can be devoted strictly for business development and improve the company’s bottom line. Moreover, all customer data becomes easily accessible and this enables the business to provide proactive customer service by responding to all inquiries faster.

Email efficiency: A digitized system for document management allows for saving emails on the system, making it easier for the user to search his email history.

The magic of plastic money

Credit cards on the other hand, are a greatly convenient tool for taking care of your expenses without having to carry cash. They are great for shopping online and give you the ability to pick up anything from anywhere in the world. Be it a haute couture dress from a leading French fashion designer in Paris or an African handicraft from Nigeria, it’s there for you to buy, anytime and from anywhere.

With credit cards, moreover, you get to save more through innovative cash back and rewards schemes that most of them offer. The points that you accumulate every time you make a spending with the card can either be converted into cash discounts on your net outstanding or get you some wonderful gifts when redeemed. Excellent discounts are also available when you book railway or airline tickets, make payments for electricity and other utilities bills and also for hotel bookings.

One also gets to save on interest as there is a free credit period between the billing date and the payment date. Moreover, since you don’t need to carry cash when you’re carrying cards, it enhances your personal security as well. Most credit cards are microchip protected and can be used only when a PIN number is punched in. So should your card be stolen also, the chances of its fraudulent use too, are limited. You just need to call the bank and block it.
In emergencies too, when you’re strapped for cash, credit cards come as a savior. This is particularly in the case of medical emergencies that can happen anytime. While traveling abroad also, you don’t need to carry extra foreign exchange as your card will take care of it.

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