Company information is growing at a rapid pace. The quantity of documents, the multiple versions, and the various repositories present unique challenges, especially when we attempt to take these challenges on the road.
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From onboarding and training to performance reviews and career development, effectively managing your workforce enables you to retain talent and maximise operational expertise.
The overriding issue within most HR departments is the mountain of paperwork, much of which can contain sensitive employee information.
The HR team is responsible for maintaining and organising all employee information. Therefore, if there is still a dependence on outdated paper forms, time and resources could be wasted. Not to mention, unstructured information is particularly vulnerable to compliance and security issues.
There is no better time to re-evaluate your business processes, reflect on what is currently working and find out what steps could be taken to make improvements.
Manual, paper-based processes are the reason many organisations struggle to manage their accounts payable function. Without a clear view of every piece of information, how can you be well prepared for an audit or supplier query?
If you are still manually entering data into your accounting system, you could be experiencing unnecessary errors and time wastage from highly skilled employees.
A recent survey showed that paper is still a burden for many businesses.
81% confessed to printing out at least one document a day, with 55% still using manual, paper-based processes for capturing signatures and approving documents.
HR departments can work more efficiently and streamline key processes by leveraging a metadata-driven enterprise information management (EIM) solution.
Metadata is structured information that describes, explains, locates, or otherwise makes it easier to retrieve, use or manage an information resource.
The bulk of many organisations’ information backbone is not easily accessed, understood or used. Gartner estimated that over 80% of all corporate data is unstructured.
Much of this data is deemed redundant, obsolete or trivial (ROT), representing a significant cost to the organisation in managing and storing information. This can be considered “dark data”, a source of risk to the business, as the contents of these documents remains largely unknown.
Digital Transformation is a key goal for many organisations.
Transforming manual, paper-based processes into seamless digital ones is at the heart of many digital transformation strategies. Digitisation can reduce human error, free up employees to focus on more complex or strategic tasks, speed up essential operations, and create more unification and consolidation amongst back office processes.
If you are still manually handling, processing and filing supplier invoices, your business could be leaving significant savings on the table.
Manual processes are inefficient, particularly when companies receive most of their supplier invoices outside of a centralised system. Handling and processing supplier invoices, purchase orders and employee expenses using paper-based processes is time consuming and repetitive.
Faced with increasing regulation and high demands from clients, accounting firms and financial institutions are turning to a new kind of workforce to support some of their most time-consuming duties.
This new supply of support is being called upon by some of the top tax and accounting companies and can sort through information, understand requests, and support increasingly complex tasks without demanding a monthly wage. That is because this new workforce is not human, but artificial.