One of the main modern business tools is data. Effective process of data managing, and data organization improve the entire business efficiency. The digital age has given us many new opportunities, including electronic document management (contract signing, electronic tax filing etc.). Proper data management ensures an accurate, efficient and compliant workflow. Proper management practices make it easier to file documents electronically, as well as provide an opportunity to improve skills decision making.
Basic principles of data management and organization of corporate electronic documents filing:
- Centralized storage system
Effective data management requires a centralized data storage system. A reliable and secure electronic document management system will provide centralized storage of all necessary tax and financial documents. It will also reduce the time and effort involved in finding and collecting relevant information for e-filing, as well as providing quick access to the data. The centralized system ensures the integrity, relevance and correctness of the data.
- Consistency of data formats
Successful data management is impossible without data format consistency. It is advisable to create standardized formats and standard names for different documents (accounts, receipts, financial statements, etc.). This will guarantee consistency and ease of recognition. Standard data formats allow to speed up the organization of data and its search, reduce the number of errors when submitting documents.
- Data cleaning and verification
Data cleansing and validation are critical processes in data management. The guarantee of information correctness and reliability is the regular data cleaning and checking for errors, duplications and inconsistencies. This will improve data integrity and avoid compliance issues.
- Compliance with security measures
Ensuring data security is a top priority. It is possible to protect sensitive data from unauthorized access, hacking or data loss using reliable methods. These include encryption method, access restriction, firewalls, conducting regular security checks.
- Backup and restore data
The reasons for data loss can be different: crashes, software errors, cyber-attacks, etc. Frequent use of backup methods will help reduce the risk of data loss. This means making secure backups of all important data and storing it in multiple locations. In the event of data loss or corruption, companies can quickly recover data and minimize disruption to workflow.
- Data audit
Regular data auditing promotes data integrity and correctness. The audit will also help ensure that the data is complete, current, and appropriate, as well as identify anomalies, inaccuracies, and gaps in the data. This, in turn, will allow companies to quickly take the necessary measures to eliminate them.
- Employee training
All personnel involved in the electronic document management process must have the skills and understanding of data management practices (importance of correct data entry, data confidentiality, data security standards, etc.). A high level of staff awareness will reduce the number of errors and create a culture of working with data.
- Tracking regulatory changes
It is important to keep abreast of changes in rules and requirements that may affect operations with electronic documents. This will avoid sanctions and fines due to non-compliance with the new requirements.
