Accounting teams rely on email for so much, it’s ridiculous. These teams depend on email to communicate internally with their teams, and externally with customers, sometimes managing four or more inboxes at a time. Managing today’s accounting email inboxes with limited collaboration capabilities means teams are using Slack, Teams, productivity tools, phone calls, IMs, and smoke signals to close the books.

For your reading pleasure, we’ve gathered ten of the top ways email is making your accounting team see red instead of green. Over the next few weeks, we’ll be sharing them all with you!

Email Challenge Number 4: Document Management 

Inbox full of invoices, PDFs, receipts, ax documents and more? These documents can’t sit in your inbox forever. You have to move them to a central location and have at the ready if there’s an audit. Document management is the bane of the accounting team because there is no easy way to move and track documentation from email to a central location.  

Need a copy of a vendor’s W-9 to pay an invoice? You will have to leave your email platform and go check your folders to get a copy or re-email the vendor for their W-9. Not there? Time to use Search. When it comes to Document Management, email is too disjointed to be effective. 

Manual accounting processes are inefficient. Relying heavily on email and spreadsheets to manage and organize your accounting workflows only leads to more and more manual, menial work. By only using these manual processes, accounting workflows can’t scale. Email being disconnected to the ERP means you are out of luck if something is set in the wrong folder or accidentally deleted. And, this should go without saying, but email should never, ever, ever be your single source for document storage. There’s a better way to manage accounts receivable (AR). 

Award-winning Lockstep® connects the world’s accounting teams to help them work better together. The pioneer in Connected Accounting, Lockstep develops tools and platforms for fintech developers and accounting teams to automate workflows between the accounting systems that are at the heart of all businesses.  

Missed one the earlier challenges we featured? Check them out below: 

Editor’s Note: Get more accounting done with less stress and effort with Lockstep Inbox , our free accounting inbox that will help you act on the customer and vendors that need attention.

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