Human capital management: Small and medium businesses no longer have a reason to put off implementing document management software solutions. At an affordable price point, DMS gives even a small business a fast return on investment in cost savings and productivity improvements.
In a recent article on Aberdeen Essentials, DocStar VP of Marketing Jeff Frankel weighed in on how HR professionals can see improvements across the entire employee lifecycle and human capital management with document management software. Here’s an excerpt and be sure to read the article in its entirety on Aberdeen Essentials.
“In the Human Resource department, unique requirements for security, integration and workflow made implementing these early solutions even more complex. HR managers, charged with keeping track of large volumes of paper documents, also had the added responsibility of manually securing confidential employee records with controlled and limited access. The need to allow people to see only what they should see further complicated the technology required. This added security requirement for documents “at rest” or in transit, made early solutions even more expensive and usually put HR last on the list to implement new technology.
An Aberdeen Group survey, Handling Paper in a Digital Age: The Impact of Document Management, reported that the top three reasons why respondents adopted document management technology were the same, whether you were an SMB or a large, multi-national company. Of the companies surveyed:
These issues are compounded in HR, which generates a staggering amount of documentation that starts before an employee is hired and continues even after he or she has left the company. The typical on-boarding process, for example, takes 20 documents and over 30 minutes of data entry per employee, according to a study by Provoke Research Partners. Multiply the productivity gains and savings of HR document automation across all HR processes, like annual re-enrollment in insurance plans or employee compensation claims, and the compounding return on process improvement becomes clear.”