According to AIIM research, the number and types of incoming business documents that must be managed is accelerating, causing data capture to be a key challenge in organizations today. For 67% of survey respondents, half or more of their main processes involve connecting multi-channel inbound content to one managed process. From shipping information to employee demographics, finances and more, the data we collect on a daily basis is widespread and often lacks structure. Even with a basic scanning process in place, capturing and processing this data can cause tremendous strain on administrative staff.
Another school year is about to begin as students across the nation are back to school shopping and stocking up on their classroom essentials. Meanwhile their teachers are managing the administrative side of welcoming new students, each with records to be securely filed, yet easily accessible for future grading, notes and revisions.
How often do you transport files in and out of the office? Do you constantly worry about misplacing confidential records or damaging them during travel? Research shows that an estimated 7.5% of a company’s paper documents are lost, costing an average of $122 to find or replace. That means if your company manages 10,000 documents, about 750 of them will be go missing, costing around $91,500 for the time and supplies it would take to recreate them.
From student enrollment to transfer applications, parent-teacher conferences and payroll, the education system distributes large quantities of documents every day. Whether a student, teacher, or faculty member, all are affected by the heavy paper trails existing in school districts from elementary to high school, college and beyond. The management of this paperwork is critical to ensuring a respectable reputable educational environment, and it must be organized efficiently.
When you go to the doctor one thing is for certain. You can always count on having to fill out tedious forms as soon as you walk in the door. The same goes when applying for a job or attending a new school. Think about how many times you have filled out paperwork in your lifetime – probably more than you could count. Paper-based forms are hard to avoid.
Properly managing internal paperwork is critical for company success, which is why Human Resources is one of the most important areas of business. HR departments are the core of a company, handling business sensitive paperwork that is always subject to change. Managing the lifecycle of each employee that walks through the door is no easy task. If paperwork is damaged or lost, it can negatively impact employees, processes and business structure.
As Q4 comes to an end, businesses must now take the time to review their P&Ls and finalize a suitable budget for the upcoming year. Visual numerical data instantly shows decision makers if and how a new implementation has impacted costs. However, not all business solutions deliver hard ROI figures.
Proven for paper-intensive work environments, Enterprise Content Management software allows businesses to become more efficient with the seamless ability to capture, index, process, retrieve and archive digital documents. A main goal of implementing content management solutions is to reduce costs, however increased efficiency does not always correlate to recognizable cost savings. This is, of course, without a little thought and exploration. Let’s identify common business inefficiencies where the ROI benefits of content management software come to light.
Essentially every business, regardless of industry, manages a Purchase to Pay process. For financial departments, Purchase to Pay is common knowledge, but those in other areas of business might struggle to understand this process in its entirety. Also called ‘Procure to Pay’ and more commonly referred to as P2P, Purchase to Pay is the process of events which occurs in a business between the purchase of goods and services and the payment of an invoice.
From purchase requisition to purchase order, delivery confirmation and final payment, P2P is a document-intensive cycle and involves the proper management of detailed paperwork including checks, invoices and proof of deliveries (PODs), among others. A critical cross-functional process, various people and departments are involved, making paper-based Purchase to Pay initiatives time-consuming and highly inefficient.
Increasingly more businesses are transitioning into high-tech office environments with digital kiosks, collaborative workspaces and progressive amenities. Filing cabinets are vanishing as companies worldwide are taking business digital. The office of the future is paperless, and employers maintaining their documents electronically are realizing storage efficiencies, improved accessibility and workflow at drastically lower costs.
Moving a business paperless saves time and money while improving productivity, security and collaboration. The easiest way to get started is by digitizing personnel documents within the Human Resources department. Doing so allows the immediate benefits of paperless efficiency to be realized company-wide. Let technology do the work for you and, with these five tips, soon your company can experience the impacts of going digital.
Increasingly more physician practices and medical organizations are moving forward with the electronic processing of patient health information (PHI) in order to stay competitive within the healthcare sector and abide by the Health Insurance Portability and Accountability Act (HIPAA). The Security Standards of HIPAA consist of complex regulations built to ensure the safeguarding of PHI. These regulations include secure access control to records, tracked document actions, the ability to block sensitive data and ensuring the entire staff is properly trained on digital information management procedures.