Document management has been in the spotlight most of the past year. Well, now that 2017 is upon us, there is no more time for excuses. This is the year your business will implement document management software and improve your management and workflows. With prices more affordable than ever, small- to mid-sized businesses can enjoy all of the same benefits that their larger counterparts have already discovered.
Recognizing Human Capital
Regardless of your business size or industry, every company has one thing in common—people. And supporting and managing the people who comprise your business is integral to your success. While the term “human capital” may sound draconian, in truth it recognizes the value of your work population concerning their skills and experience. So, what is the best way to manage human capital? Document management.
Managing Human Capital
Anyone who has even worked for a company that lacked a formal human resources department can attest to their hidden value. HR is one of those departments that employees do not always appreciate until they need them. Due to the unique nature of human resources, they always have explicit management needs, including handling excessive amounts of private data. Document management has the potential to improve the entire employee lifecycle—from onboarding to retirement.
HR management, more than any other segment of your business, generates an astounding amount of data and documentation, some before an employee has been hired and some that must be kept even after they have left. This documentation must be kept confidential and managed in a smooth manner, which is extremely time-consuming. Document management has the potential to modernize standard processes like onboarding and insurance enrollment processes.
The Costs and the Savings
While many smaller businesses fear the implementation costs of a document management program, the long-term benefits and savings vastly outweigh the initial expenses. Statistics from an Aberdeen Group survey report that the reason for DM was consistent, regardless of business size or budget. Of the companies surveyed, 39 percent said that using and processing documents takes too long, while 29 percent concluded that document volume is growing too quickly and that the cost of manually managing and working with documents is too high.
So, if you are ready to save time and money while maximizing human capital, contact Hilyard’s Business Solutions to get more information.
