Document management has become an increasingly popular tool for accounts payable and accounts receivable departments, but did you know that your company’s human resources department can also benefit from it?
While we typically imagine accounting departments as the ones taken over by paper, HR has document problems of its own. Job applications, resumes, time sheets, government documents, performance review forms – Managing paper can be a daunting task for HR, too.
But document management can give your stressed human resources managers a bit of a reprieve as it provides a way to streamline processes and minimize paper. Here’s how:
- Electronically manage payroll: It takes a lot of paper and a lot of time to manually enter employee work hours, determine taxation and distribute payroll stubs. Document management can help eliminate this, meaning you no longer have to worry about filing tax documents in expensive filing cabinets, or risk miscalculating employee hours and having to re-do pay stubs due to manual data entry. Also, toss those binders and track employee compensation and benefits in the cloud instead!
- Throw out the timesheets: The days of collecting employee paper timesheets is over. Or, at least, it should be. Use document management to make collecting, reviewing and approving hours a little easier, as well as managing PTO, sick leave, vacation, etc.
- Get real-time insight: Manual HR departments don’t have the ability to capture real-time business data, which means that human resources specialists gain very little insight into business processes. A document management solution provides dashboards and reports of real-time data for quick and informed decision-making.
- Cut the costs: Paper is expensive. And so are mistakes. By automating HR processes, you can eliminate the expensive of hand-delivering or mailing monthly payroll stubs and other documents. Send them electronically, instead, so that employees can see information in their email. Automated processes have also proven to be more accurate, saving you the time and money of having to reprint documents due to typos and other errors.
Today, document management is not just for AP and AR. It’s time for HR to join in on the fun and enjoy the benefits of streamlined processes and less paper.