5 Reasons Why CFOs Should Love Electronic Forms

    5 Reasons Why CFOs Should Love Electronic Forms

    As a CFO, you’re steeped in data and paperwork, day in and day out. In the world of business, paperwork is a constant. And no matter which industry you work in, odds are that your business uses forms to drive and fuel processes.

    Think about it: While the Healthcare sector uses forms to gather new patient information, the Human Resources world uses them to process applications and new hires. The Retail and Service industries use forms to create invoices. The Education world uses forms when students register for class each semester. Customer Service departments use forms to kick off new support tickets or inquiries.

    And we wonder why we find ourselves drowning in paper, unable to find any relief! Hint, hint – it’s the forms!

    Whatever your industry uses forms for, there are several reasons why electronic forms (also called digital forms or eforms) are being used by more and more organizations. Today we’re going to take a look at 5 ways that electronic forms can benefit you as a CFO.

    1. Remote Access

    Ever find yourself on the road for business and unable to keep up with the daily demands that are waiting for you back at the office? Paperless forms can resolve this remote access issue. When your electronic forms are cloud-based, you can access them from anywhere with an internet connection. This can also come in handy if you have long-distance customers who need to submit forms, or if your business operates out of multiple locations. Forms can easily and instantly be digitally routed from one location to another, which means you can stay up-to-date with your work, even when you’re offsite.

    2. Less Paper

    Paper is a problem – for you and for your team! It’s a serious drain on your resources. The opportunity to use less paper can benefit you in more than one way. First, using less paper means that the form is less expensive to produce, because you are saving the money you would’ve spent on ink and paper. But also, consider that when a form is digital, it is far less likely to get lost under a stack of paper. This saves your team from the frustration of lost documents and the expense (time and money) of having to recreate the same form all over again. It’s a win-win.

    3. Quality Control

    Creating electronic forms allow you to control the quality of the data you’re collecting. You can set up controls to ensure that people are submitting a valid email address, phone number, etc. This leads to better data. Further, the form fields can be integrated with your existing databases, pushing synchronized data to all of your systems automatically. That way, information is error-free and always up-to-date.

    4. Audit Trails

    Some forms need to touch multiple people for input and signatures. Forms software allows you to track your forms through each step of the process, resulting in easy reporting and auditability. You’ll be able to tell, at a glance, exactly where the form has been and how far into the process you are. The program itself does this research for you and presents the information to you, along with the form, every time.

    5. Automated Error-Free Calculations

    If all of that wasn’t enough, here’s the cherry on top – the biggest reason for CFOs to love electronic forms: If your business is using electronic forms to create orders or invoices, these forms can be set up to calculate prices, quantities, tax, shipping, and more. Automated calculations reduce errors and save time. It may seem like a small difference, but shaving off 5-10 minutes from each form can save you hours upon hours in the long run, depending on how frequently the form needs to be filled out and how extensive its requirements are. Plus, not having to correct calculation errors can stack up to a ton of time savings, and can keep your customers happier!

    If any of these reasons resonate with you and your business processes, it may be worth learning more about DocuPhase’s Web Forms core. Our electronic, paperless forms are easy to use and can be placed on your existing website, making them accessible to any of your clients or team members.

    For more details about turning your office into a paperless workplace, download our free ebook, Not Your Mama’s Guide to Going Paperless.

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