Why should you get over the traditional paper receipt book and move over to digital receipts? Well, there are many reasons which are sure to convince you to switch to Digital receipts right away. The fact that most people are switching over to digitals receipts is, of course, one of them. But here we go with a couple of more reasons why you should swap the traditional receipts with the digital receipts:
- Everyone’s using them:
When everyone out there with whom you deal with is using digital receipts to record their transactions, you really need to catch up with the pace and change too. If you actually consider, digital receipts don’t require any printing or any other expenses – a simple receipt will be mailed to you, and you got to do the same thing too. It’s just as simple as that – and it’s a lot easier when everyone in the transaction cycle uses digital receipts.
- Cost saving:
Can you even imagine the number of expenses you would cut down on printers and toners when you switch to digital receipts! Not only that, but you would also save a tonne of the paper too! With so much of cost-cutting, it can have a drastic impact on your profit margin too. While you’re always on a lookout for ways and means to cut down on expenses, you can easily start off with this one.
No matter who sends the digital receipt, it will be uniform. Unlike the traditional handwritten receipts which would be written by whoever makes the sale or transfers the goods, the software generated digital receipts are the best way out – you can easily maintain the required uniformity of receipts too.
- Better storage:
Storing those bundles of receipt books is indeed a tedious task – instead, when you have the option of shifting to cloud storage based digital receipts, you should go for it. It is super space saving – you wouldn’t have to spare an extra room to store all the receipt books. Also, another benefit is that when you require a receipt dated years ago, you would find it easily in the digital system rather than having to scrabble through dusty piles of receipt books.
- Easy tax returns:
It’s way easier to gain access to the receipts which are stored in the cloud storage itself rather than referring to the hard copies. Make your tax filing procedure less stressful by switching over to digital receipts!
GDPR is basically an overarching data protection law which indeed applies to all of the European Union residents from the 25th day in the month of May in 2018. It is indeed concerned with personal data, which is, in fact, data that indirectly or directly identifies a person who is residing in the European Union. It can apply to any kind of company or entity which can market goods or services to the people staying in the EU.
Here are some tips for the implementation of the GDPR:
- Do pay heed to what your data protection authority says. Listen to them. Do understand who leads your data protection authority will be on the lookout for and also follow that GDPR guidance communications. Log onto the site and make sure to add yourself in the mailing lists.
- Be sure to understand whether you are a controller or a processor in all of your business relationships since the rules are different for each, even though many aspects of the GDPR cover processors. If you are indeed a controller, then check that you actually meet individuals’ rights, specifically the new rules around the data portability and the right to be forgotten, etc.
- Do you actually have to rely on consent? You have to take a look at how you are indeed collecting consent and do not use pre-ticked boxes under any circumstances. If you indeed need consent as the legal basis for the processing, the rules have indeed tightened up. You should consider whether ‘performance of a contract’ is a better and well thought of legal condition for the processing of data.
- Do you actually need a representative? Organizations that operate outside of the EU should and must check whether the GDPR solutions impact them. Many regulators have a lot of cross-border co-operations which have agreements in place.https://www.youtube.com/watch?v=6fITStJ-4Es
- Do you actually know what personal data you indeed hold? You have to document all the personal data you hang onto and place it in a secure file; you should know where it came from, who you have shared it with. You may also have to organize an audit of information. Make sure that you know all of your business processes which are involved in processing the personal data and make sure those are documented as well.
- Are you actually prepared for a breach of data? You have to be sure that you have the right procedures in place to detect and report any breaches in data. You should also be ready to perform an investigation of the same.
- You have to manage your privacy risks, as well. Privacy and security are two very important things.
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