Traditional Record-Keeping vs. Electronic Record-Keeping in Nigeria

Traditional Record-Keeping Vs. Electronic Record-Keeping in Nigeria.

Record keeping is the process of saving and storing important data that concerns your businesses/organizations, especially for future references and comparisons.

Record keeping is an essential aspect of a business. It doesn’t only deal with the area of accounting, but also ensure that the organization is running smoothly as records of significant activities are saved. This information may include orders, tax documents, profits, employee information, and records of miscellaneous expenses.

They are important because you have an in-depth knowledge of the progress your organization is making. Originally this was done using the manual or traditional means of record-keeping and management, which was paper-based. Still, as we move into the digital age, more business and organization, whether small or upscale, are adopting the electronic means of record-keeping with each passing day.

Still, we cannot deny the fact that a lot of businesses still prefer the traditional type of record-keeping, so now there is a comparison between the traditional and electronic means of record management.

While the traditional method of record-keeping has the following strengths;

  • Less expensive
  • Less risk of corrupted or duplicated data/files
  • Errors are easily corrected.
  • Less risk of losing files due to software issues.
  • It is more simplified and can be managed by anyone, etc.

It’s also important to note that electronic record keeping is also a much-preferred option because it has the following strengths.

  • It backs up your records automatically, which can also be easily recovered.
  • There is less risk of losing files to incidents such as fire or thefts.
  • It allows you to generate these records easily when needed to tally data and provide reporting/auditing functions.
  • It is also an efficient way of keeping track of your business activities without requiring too much storage space.

At Sidmach Technologies, with our superb services, we can give you the best e-filing system both on premise and in the cloud; and if the time comes for you to migrate from on-premise to cloud, we are here to support you 100% of the way using a very cost-effective approach.

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