Digital Filing Cabinets: Effective Financial Organisation in a Post-Paper World

Guest blog from our friends at Auderli – the quick, simple and secure online life auditing tool.

In the last few years, we have seen a shift in how we receive documents from our banks, properties and legal providers. Companies are choosing to switch from paper to digital documents, and while this transition takes place it can be difficult to know how to store and organise your documents effectively when they come in all formats. We’ve written this guide to give you some tips on how to better organise your finances while preparing for the post-paper world.

Why is society going paperless?

There are several reasons that business and individuals are choosing to go paperless, namely to keep up with the technological society we live in, but also:

  • For the planet
    • Switching to paperless documents is the simplest way that businesses can do their bit for the planet. Using less paper helps protect more trees, and also eliminates printing costs.
  • Streamlining
    • In this technological age, everything happens faster and smoother. Electronic documents can be sent and shared in an instant, which streamlines any processes where certain documents are required.
  • Save space
    • One thing that many people are lacking is unwanted space. Storing documents in big bulky filing cabinets takes up room, whereas digital documents can be stored within any of your (much smaller) devices.
  • Access from anywhere
    • Our busy lifestyles mean we are not always at home when we need access to a certain document. A paperless system makes files accessible from anywhere in the world, at any time, and again streamlines various financial or legal processes.

Why is it important to have good record-keeping?

Whether your documents are paper or not, it’s good to keep them organised and easily accessible for when you need them and to also have all of your finances recorded. Doing so allows you to:

  • Make better financial decisions
    • Keeping good records means you’re well informed about your finances and what you can and can’t afford. This allows you to avoid poorly judged financial decisions, as all details about your net-worth and income are in one accessible place.
  • Get better advice
    • With your physical and digital records up to date, seeking advice from a financial advisor becomes easier. Because they have all of the records and information from you that they need, they can provide you with more accurate and tailored advice and you in turn get more for your money.
  • Save time and cost
    • Often, financial processes can be costly and can be slowed down by not having the right documents in the right place when you need them. Good record-keeping, and having a central repository for all of your financial information not only saves you time, but helps you to avoid unnecessary costs along the way.
  • Manage your business easier
    • If you own a business, all of the above apply to your business also. But, you also have the added pressure of clients and employees who rely on your business having a healthy financial status for their own wellbeing. In this case, organising your records digitally allows any of your business partners to have access to them whenever needed, and you can be in the know if your overall net-worth starts to change.
  • Know what’s in your estate
    • When writing your will, having a full understanding of what is in your estate already allows the process to run more smoothly for you and your will-writer. This knowledge frees you up to focus more on the other important decisions you have to make while planning your estate

Where is the future of filing headed?

With paper filing being discarded more and more by the day, even some digital filing apps are behind on the latest technology. One company demonstrating innovation when it comes to digital file management is Auderli, a new life-management app.

Auderli was founded by a tax specialist who experienced frustration at not having all of the information he needed from his clients in one easy place. Auderli seeks to fix this, and uses groundbreaking document upload and storage features. Users can take an image of a paper document, or upload a digital file to their portfolio and then it is then stored behind each of their important assets or liabilities, which is what sets this technology apart from previous cloud storage apps. Auderli also has an instant interactive net worth calculator and secure portfolio sharing, so that you can choose to show your information to people you trust.

With futuristic security measures such as passwordless login, Auderli is truly shaping the way forward for how we organise all of our life’s important information and certainly makes living in more of a post-paper world a lot less daunting. To find out more about Auderli and their exciting plans for future integrations, head over to their website.

How can we keep everything accessible?

A paperless storage system seems scary at first, and may be a feat that some older, less technologically minded people might shy away from. But, in actual fact storing documents in this way may be more accessible to some.

Technology such as screen readers and large print text mean that accessing documents online becomes a breeze for those who are maybe visually impaired or experience other forms of disability. For older people, sharing documents with family means that they are in the know for if you ever become incapacitated and can no longer manage your finances single-handedly.

Searching through heaps of paper documents can also be tiresome work, which decreases the accessibility for those who aren’t able bodied. Having everything you need in one place, at the touch of a button, means that you can access documents and information whenever you need.

With time and the right education, people may begin to realise that going paperless may actually be the best way forward not just for the planet, but for us as people too.

So, digital filing cabinets? Yes or no?

Whether you decide you want to go completely paperless in the future, or want to stay with a mixture of the two for now, it can’t be denied that there are many exciting new developments in the way we organise our life and all the documents that come with it.

No matter how you choose to organise your finances, the most important thing is that you feel in control of your finances and peace of mind because of this. If you think Auderli may be the key to you unlocking this sense of financial security, then head over to their website to sign up for free and find out more.

You can visit Auderli here – https://www.auderli.com