The world is in the middle of a digital revolution, and most countries are moving away from paper receipts and invoices in favor of digital versions. Countries like the United States, Australia, Luxembourg, and Spain have laws that say digital receipts are valid. And in some countries, like Austria and Switzerland, there are even more rules, like storing digital files in more than one place and having an internal person in charge of e-archiving sign off on a receipt.
You could stick with your old paper filing system, but doing so is often associated with being disorganized, losing important receipts, not being able to remember all of your expenses, and missing out on possible tax deductions. The same is true if you just scan your digital receipts or store them in the cloud. Because of this, you leave money on the table, which hurts your family or business in the long run. Right now, you need to start keeping track of your digital receipts. This is why:
Simple to get to and understand
“Out of sight, out of mind” is much more likely to happen when you store things in the cloud. But if you go the extra mile and use a dedicated software platform or app to track your digital receipts, it will be easier to find, organize, and learn from your expenses, which will help you with your taxes and your budget. No more losing important receipts, no more entering data by hand, and no more clutter – in your office or your mind. Instead, you can easily access the receipts and invoices that meet certain criteria when you need them. This lets you fill out the right paperwork, answer the right customer questions, and save time, effort, and money on your taxes and in customer-facing operations.
Spend less and save the trees
Why waste money (and valuable natural resources) on printing paper receipts and bills and the file folders you need to store them in? With a small up-front cost, you can set up a business receipt expenses manager that costs a small fraction of what you would normally spend on paper and printing equipment.
Do you still have a lot of paper receipts and bills that haven’t been in use for seven years? Many scanner apps can help you digitize your paperwork so that it can also be tracked as a digital receipt. This will free up space in your office for more money-making activities.
Provide better consumer experiences
Owners of businesses, listen up! Most people (89%) are tech-savvy and care about the environment. They want you to give them the option of a digital receipt that you can track to give them better, more personalized service and experiences.
Tracking your digital receipts can help you stay organized, but it can also help you learn more about your customers’ buying habits, preferences, and past purchases. This can help you personalize your marketing efforts and get more customers to come back.
How? Start by sending your customers their digital receipts through a marketing email. Then, keep sending them great, interesting content. It’s that easy, and the benefits are wonderful.
How to organize and keep your digital receipts safe
How should you put your bills and receipts away? With a business expenses manager like WellyBox, you can stop scanning and start scanning.
WellyBox knows that it is not a good business practice to leave money on the table by not deducting all costs. This is especially true now. WellyBox’s unique AI technology gets rid of the need to look for invoices and receipts, making it easy, seamless, and automatic to keep track of and report your business or family’s expenses. You just have to link your mailbox to WellyBox. Our system will find all of your digital receipts and bills and sync with popular cloud storage services like Dropbox and Quickbooks. You’ll be able to quickly categorize your receipts, check the status of your expenses (in more than one currency), and enjoy top-notch security that keeps your sensitive information from being shared with third-party services.
Read More: How to Set Up Digital Receipts
Stay Connected!
