Reasons why electronic forms are the future

Why use electronic forms?

Policies and Procedures

Electronic forms allow for the exchange of information more quickly, easily, and dependably than ever before. The Internet, mobile devices and BYOD have forever changed the way things are done. Add to that the features of Smart Phones and tablets are continuing to add and there is only one conclusion that can be made.  That revolution has made paper documents part of the past.

Order

People no longer need to spend time or money printing, faxing, physically delivering and storing paper documents, when you can accomplish better results in just a few minutes with an electronic document? In fact, today’s electronic alternatives are not just analogous to, but clearly superior to, their paper equivalents. Indeed, the options offered by new technologies not only provide greater security than traditional forms, but facilitate authenticated transactions in better ways than paper permits.

Electronic documents and forms improve productivity and also substantially improve control, security, and verifiability beyond anything previously possible.

Which records can be saved and which can be disposed off? Electronic records make the process easier…

There are numerous business records that should be held on to for a minimum of seven years, which can include employee agreements, business loan documentation, litigation records, as well as general expense reports and records including overhead expenses and professional consultation fees.

Other documents may be kept for shorter, longer or an indefinite period of time and it’s important to know what legal requirements are enforced for your industry to not only stay compliant, but to also dispose of documents you may no longer need. Regularly maintaining filing cabinets and securely disposing of old documents can help minimize risk of sensitive information falling into the wrong hands. The risks of keeping old documents containing sensitive data can be high – resulting in identity theft, fraud and potential financial loss or reputation damage.

Author: Victor Janulaitis

M. Victor Janulaitis is the CEO of Janco Associates. He has taught at the USC Graduate School of Business, a Graduate School at Harvard University, been a guest lecturer at the UCLA's Anderson School of Business and several other universities in various programs.Prior to Janco, he was a Vice President at Index Systems and found PSR, Inc. and internationally recognized consulting practice.