By Roman H. Kepczyk
Quantum of Paperless: Technology Guide & Checklist
Firm knowledge and information is usually stored in one of four “buckets.” The most obvious is within the accounting applications themselves where tax, audit and accounting programs store client files in a format that can only be accessed with that program. Files are usually indexed and accessed in designated directories so there is not much the firm can do about moving these files.
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The second bucket for more advanced firms is a document management application where final documents can be archived in alignment with a comprehensive document retention plan and easily searched. The 2019 CPAFMA survey pointed to 30 percent of firms utilizing their document management application for intranet purposes.