We know it by many names – Paperless Accounts Payable, Automated Accounts Payable, Accounts Receivable Automation – and while it is often associated with accounts payable and accounts receivable, did you know that document management is also the ideal tool for human resources departments?
HR departments are overrun with paper. From job applications to resumes to time sheets and government documents, managing documents in HR can be a daunting and stressful task if you don’t have a way to streamline processes and minimize paper.
According to PayStream Advisors’ report, “A CFO’s Guide to Human Resource Management Solutions,” a recent survey of more than 1,400 small to medium-sized enterprises (SMEs) found that 51% of those asked still store employee data in multiple spreadsheets. Additionally, the survey found that 54% of SMEs are still manually tracking employee hours.
So, what can document management provide your company’s HR department? Here are some of the benefits:
Managing payroll: Document management can eliminate the need to manually enter employee hours worked, determine taxation and distribute payroll stubs. This means no more filing tax documents in big filing cabinets or risking miscalculation of employee hours worked due to manual data entry. You can also keep track of workers’ compensation, retirement and other important payroll information without the binders.
Tracking time and attendance: Collecting employee hours on timesheets can be tedious and inaccurate. Document management helps make the process of collecting, reviewing and approving hours worked a little bit easier. It also allows you to easily manage employee time reporting data such as PTO, sick leave, vacation, etc.
Real-time visibility and reporting: Organizations that use manual HR processes don’t have the ability to capture real-time business information, resulting in limited insight and visibility into business processes. Document management gives you real-time visibility of HR data for quick and informed decision-making. You can easily generate reports, run queries and view data.
Reduced costs: Automating HR processes means that you can eliminate the expense of delivering monthly payroll stubs and 401K documents. Rather than mailing or hand-delivering paper copies to employees, a document management system can send captured documents to staff by email. Think about how much money this will save in both postage and handling!
Don’t let AP and AR have all the fun – your company’s HR department also can greatly benefit from the functionality, efficiency and paper-saving ability of a document management solution.
by MetaViewer Paperless ERP for Microsoft Dynamics
The Difference between Human Resources and Extended Human Resources & Payroll in Microsoft Dynamics GP
ROI of Document Management, Part 1: The price of paper
ROI of Document Management, Part 2: The Advantage of Automation