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How businesses are managing the onslaught of papers in their accounting departments?

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How businesses are managing the onslaught of papers in their accounting departments?

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Account Data capture Software Several companies like Abbyy , Kofax, ReadSoft, and AnyDoc offer data capture solutions specifically developed to convert all the paper based invoices, checks, bills, and other paper documents into data that can be sent to the accounting or ERP systems. Large corporations have been using these types of software successfully. By using software for accounting data capture, they’ve increased the efficiency of their accounting departments and achieved significant productivity gain in processing their accounts payable and accounts receivable data. Small and mid-sized businesses are mostly not using any software to convert their account data from their paper documents. Most of the mid-sized companies use software just to scan their paper based accounting documents and manually enter the accounting data into their accounting or ERP system. As you know it is not a cost-effective solution; time spent on data entry, verification, and data calculation can be automate

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