The dream of paperless bookkeeping was born with the market entry of the first computer terminals with video displays. In the 1970s the head of Xerox’s Palo Alto Research Center was imaging a feature without paper. Even back then, people could see the possible process speed increase and simplification for all stakeholders.
Today, nearly 50 years later, we can pay with our mobile phones and watches. However, for bookkeeping purposes, we have to keep every receipt and invoice in paper form. We have to stack them in folders and store them in file cabinets for 10 years.
But the tides are changing.