Digital Document Storage

Why you should be looking at it!

Presenter: Ed ClossExpert Club Software

Lets take a quick look at the past

Welcome toState of the Art Information Storage

in 3000 B.C.

Hard to Erase, Heavy to Carry, Hard to Store

Progress as of 500 B.C.Lighter

Easier to StoreEasier to Transport

But at $20 a sheet today's money-EXPENSIVE!

But it took until 1200 A.D.

For The European’s to join the Paper Chase!

Paper was invented approximately 200 B.C. in China, and brought to Korea and spread by Monks and the rise of Buddism.

And Today…….

After 900 Years of Technology…………

Look familiar?

Questions to ask yourself?

What does it cost to own this space?

What does it cost to retrieve a document from this space?

Or Place a File in this space?

What happens if this room gets damaged from:

Most Private Clubs store Documents in Rooms not designed for Proper Storage

FloodFire

SmokeVandalism

Theft

Is this you?!

When this could be you.

Why isn’t it?

Digital Document Storage

You have to challenge your comfort zone

To move towards

And change the way you think about paper

Its easier than you think!

And the benefits are well worth it

Process:Can be done incrementallyStart in one area and expandUse current hardware first, test the watersSet up systemsGet everyone on-board!Don’t forget, paperless is also GREEN!

Benefits:

Digital documents are more accessible than paper documents.Once converted to an electronic document on the network, it’s just a click awayFor any personnel needing to access that data.

Documents are now backed up and less likely to get damaged,burnt, lost, or wet in the advent of catastrophic events

Freeing of physical space

More efficient use of time, no more looking through files

The ROI process for Private Clubs still reliant upon paper documents is oftensubject to multiple transmissions for data involved in the exact same case.

Paper from CopiesCopiersTonerPrinter SuppliesFile Cabinets

Other Cost Benefits

Example:The cost to maintain a five-drawer file cabinet is $880 per year. The cost to support 1 inch of paper documents is $11 per year. Three percent of all documents are mis-filed, even with the best records

management system. The cost to retrieve a single page document is $20. The cost to locate a mis-filed document is $120.

Approximately 2,700,000 documentscan be stored on an 80GB hard drivewhich costs about $125. This isequivalent to 270 four-drawer filecabinets.

http://www.thepaperlessproject.com/what-are-the-facts-about-paper/

• A typical employee spends 30% – 40% of his time looking for information locked in e-mail, documents, shared hard disks and filing cabinets.• The average document is copied 9 to 11 times.• Filing costs average $20 per document.• When an employee leaves a company 70% of his knowledge walks out the door with him.• We are approaching 4 trillion documents being stored by businesses and government agencies.• Each four-drawer file cabinet holds an average of 10,000 to 12,000 documents, takes up to 9 square feet of floor space, and costs $1,500 per year.• Every 12 filing cabinets require an additional employee to maintain.• 18 minutes is the average search time for a document.• Each misfiled document costs $125.• Each lost document costs $350 to $700.• More than 70% of today’s businesses would fail within 3 weeks if they suffered a catastrophic loss of paper-based records due to fire or flood.• Paper in the average business grows by 22% a year, meaning your paper will double in 3.3 years.• 67% of data loss is directly related to user blunders, making them 30 times more menacing than viruses and the leading cause of data loss.• At any given time, between 3 and 5 percent of an organization’s files are lost or misplaced.• U.S. managers spend an average of 4 weeks a year searching for or waiting on misfiled, mislabeled, untracked, or ‘lost’ papers”• Large organizations lose a document every 12 seconds.

Paper productivity costs

Do you KnowWhat Document Storage

Policy You should be Following?

Let me give you an idea

These charts may be used as a guideline for most records retention

Items Retention Period

Accident reports and claims (settled cases) 7 yrsAccounts payable ledgers and schedules 7 yrsAudit reports of accountants Permanently Bank reconciliations 1 yr.Capital stock and bond records PermanentlyCash books PermanentlyChart of accounts PermanentlyChecks (cancelled, but see exception below) 7 yrs Checks (cancelled, for important payments, i.e. taxes, purchases of property, special contracts, etc.

(checks should be filed with the papers pertaining to the underlying transaction) PermanentlyContracts and leases (expired) 7 yrsContracts and leases still in effect PermanentlyCorrespondence general 3 yrs.Correspondence (legal and important matters only) PermanentlyDeeds, mortgages, and bills of sale PermanentlyDuplicate deposit slips 1 yr.Employee personnel records (after termination) 3 yrs.Employment applications 3 yrs.Expense analyses and Expense distribution schedules 7 yrsFinancial statements (end-of-year trial balances) PermanentlyGeneral Ledgers (end-of-year trial balances) PermanentlyInsurance policies (expired) 3 yrs.Insurance records, current accident reports, claims, policies, etc PermanentlyInventories of products, materials, and supplies 7 yrsInvoices to customers 7 yrsInvoices from vendors 7 yrsJournals PermanentlyMinute books of directors and stockholders, including bylaws and charter PermanentlyNotes receivable ledgers and schedules 7 yrsPayroll records and summaries 7 yrsPetty cash vouchers 3 yrs.Physical inventory tags 7 yrsPlant cost ledgers PermanentlyProperty appraisals by outside appraisers PermanentlyProperty records-including costs, depreciation reserves, depreciation

schedules, blueprints and plans 7 yrsPurchase orders 1 yr.Receiving sheets 1 yr.

Requisitions 7 yrsSales records 3 yrs.Savings bond registration records of employees 7 yrsStock and bond certificate (cancelled) 1 yrStockroom withdrawal forms 7 yrsSubsidiary ledgers 7 yrsTax returns and worksheets, revenue agents’ reports and other documents PermanentlyTime books 7 yrsVoucher register and schedules 7 yrsVoucher for payments to vendors, employees, etc. (includes all allowancesand reimbursement of employees, officers) 7 yrsIRS Practice and ProcedureSales and receivablesSales journals 7 yrs.Shipping tickets 3 yrs.Accounts receivable ledgers and trial balances 7 yrs.Invoices 7 yrs.Uncollectable accounts and write offs 7 yrs.Expired contracts and notes receivable 7 yrs.Purchases and payablesPurchase journals 7 yrs.Bills of lading 3 yrs.Accounts payable ledgers and trial balances 7 yrs.Purchase orders 3 yrs.Paid bills and vouchers 7 yrs.Expired purchase contracts 7 yrs. PayrollPayroll journals 7 yrs.Time cards 7 yrs.Payroll reports (federal & state) 7 yrs.Assignments & garnishments 3 yrs.Forms W-4 7 yrs.

Not Done Yet

Almost FinishedAccounting FirmsTax files In office In Storage

Present clients 3 yrs. PermanentFormer clients 3 yrs. 7 yrs. Work paper files In office In StorageAuditor’s reports, compiled orreviewed reports Present clients PermanentFormer clients 3 yrs 7 yrsCorrespondence files 3 yrs 7 yrs

IRS Practice and ProcedureIndividual Records Retention Period

Tax return copies 6 yrs. after filingMedical bills 6 yrs. after paymentForms 1099 received 6 yrs. after receiptKeogh statements 6 yrs. after Keogh terminationIRA records (deductible & nondeductible) 6 yrs. after IRA terminationLoan records 6 yrs. after loan payoffInsurance policies 6 yrs. after expirationMajor purchase receipts 6 yrs. after purchaseYear-end brokerage statements 6 yrs. after securities depositCertificates of deposit statements 6 yrs. after maturitySchedule K-1’s from partnerships or S corporations 6 yrs. after disposition of interestHouse records (cancelled checks for purchase,major improvements and maintenance) PermanentBirth and death certificates PermanentMedical records PermanentWills PermanentForms W-2 received PermanentTrust agreements PermanentDetailed list of financial assets held PermanentAlimony, custody of Prenuptial agreements Permanent Military papers PermanentPhotos or videotape of valuables Permanent

Note: Documents establishing basis of trade, business or investment assets, or taxpayer’s principal residence should be retained for six years beyond the date of the filing of the tax return for the year in which the asset was disposed.

Business RecordsGeneral and financialCapital stock records PermanentCorporate records and minutes PermanentProperty titles and mortgages PermanentFederal, state and local tax returns PermanentFixed asset records and appraisals PermanentAccountant’s audit reports PermanentInterim and year-end financial statements

and trial balances ` PermanentMonthly trial balances Permanent CashCash receipts and disbursements 7 yrs.Bank statements, cancelled checks, and deposit slips 7 yrs.Bank reconciliations 7 yrs.Petty cash vouchers 7 yrs

Now I’m Done

Guess what,

Are you in compliance and how fast can you retrieve the necessary documents?

all of this can be maintained automatically!

Looks like a lot to track

And while were at it:What are your vendors doing?

Don’t think their not looking at the advantages

Emailed Invoices- Are you ready?

How would you handle them, print?

What if your software can attach a PDF to AP?

Look at this Scenario

Currently:Open the envelopeSeparate by DepartmentGet Department Head ApprovalGet Chairman ApprovalInput into AP SystemAttach to CheckGet the Check SignedMailFile InvoiceDiscard in 7 Years

Proposed:Open emailed InvoiceEnter into AP System with attached DocumentSend off for All Digital ApprovalsAuthorize ACH payment upon all Approvals

This is not the future-this is available now!

With digital documents, nothing to file, authorizations occur off location if necessary, smooth operational flow!

Who needs to see the Invoices?Management, Department Heads, Chairpersons

How many people are needed to retrieve? At what time cost?How great is it when the chef has direct access to invoices without the

need of going to the office? Or Maintenance

Or SuperintendentOr General Manager

Or Purchasing AgentOr Food and Beverage Director

Etc, etc, etc…

And since the information can be retrieved from the screen, no printing or copying necessary.

This just covers invoices, extend the possibilities to member files.

Files are accessed through security settings to keep inquisitive eyes at bay.

Let’s membership Chair people, and management staff have access without interfering with each other.

Also allows for digital check lists to complete new application process.Files are still legible 20 years out. No going through file cabinets to search.

Look at your Club Software, why stop here? Files should be linked to Club Management Software to increase efficiencies.Look up the purchase in accounting, click to see the actual invoice paid on the screen!

Look up Member Information in accounting, click to look at contract agreements for membership status.

Digital Catering and Dining, Events, BEO’s; all accessed by necessary personnel at a click.Efficient staff and better use of time to improve member services which is what it’s all about!

Online Reservations are here as well! With Mobile!

POS and Floor plan

Ever hear of Open Table?

Your Members use it!

DiningTee Times

Court ReservationsSpa-Salon-Gym

Lessons

Software Today Goes from the Reservation to the: Tee Sheet Court Reservation Sheet Lesson Book

Charged Directly to Member Accounts

And to continue on paperless……..

Why Private Clubs Don’t Changewith Technology

“Change can be unnerving”

“But we have always done it this way”

“Our members don’t use technology”

“Our Club doesn’t like change”

Statements we have all heard or even said, but if this were really true…..

Why don’t we still cut fairways with Horse Drawn Reels?

Still use Plug & Play Telephones?

Could you ever believe that you would serve raw fish!

Clubs have always embraced change;

Digital technology has just been changing faster than clubs can incorporate it

As long as it was relevant

Its here now, so get ready!

And now its going to start to be driven by the members:

The world changed when members started carrying smartphones

When was the last time you printed a picture?

Our phones can be a scanner

Why do we treat paper different?

Are you ready for the future?

Camera, Document Retreival, ReaderWhy print when you don’t have to?Same on your computer or tablet

Now let me mention the importance of backing upfor Catastrophic Events!

Are you Prepared for a Natural Disaster

Do you have a Plan?

Onsite Backup, and who is watching

Off site Backup, and who is testing

If Cloud Based, No Problem

Just go to any computer and get to work

If Server Based, How & Where will you Reinstall?Have a base of operations planned in advance!

Have you Tested Your Backup Lately?

And if you don’t use Digital Document Storage………?

What will you do if the picture in the Background was your Club?

No Electricity NoBuilding

Where & How will you Operate?

Digital Document Storage

Start now, the benefits are worth it!

Thank You;Ed ClossExpert Club Software