By HK Bain
Aug. 2, 2012
If I offered to give you $6.12 for each $1.00 you invested, would you be interested?
Of course you would; that’s a 612 percent return on your investment (ROI)! What if you could simultaneously simplify your Human Resources (HR) processes, improve your staff’s efficiency, and better control sensitive information?
Eighty-six percent of businesses still use paper-based documents. This paper conundrum is especially problematic for HR departments, because they manage a wide variety of confidential forms and records. There is a better way! Enterprise Content Management (ECM) can convert paper-based information into electronic files and help you to securely manage sensitive records. Too complicated? It doesn’t have to be. Cloud-based ECM systems move the information storage from your network to one professionally managed by the vendor, and they can dramatically ease implementation and records management challenges without burdening your IT resources.
So where does the $6.12 come in? Nucleus Research, an analyst firm specializing in the financial return on technology investments, noted that the average return for every $1.00 spent on ECM is $6.12. Your returns, especially with cloud ECM, may be much higher. You can’t afford to ignore this opportunity!
Information security, reliable record keeping and regulatory compliance are core elements of a solid HR program. Paper-based record keeping, which is the norm, hinders your ability to achieve these goals. The problem is further complicated by the rapid rate of growth for information that’s already digital. IDC (International Data Corp.) analysts indicate that by 2020 the digital universe will be 44 times the size it was in 2009! Are you prepared to manage your HR files if they increase by 44 times over the next seven years?
HIPAA, the Health Insurance Portability and Accountability Act, reaches far beyond the health care industry to also impact employee insurance and health records when they are handled by businesses. Companies must ensure the privacy of personally identifiable records by tracking access to and disclosure of employee health information. In addition, businesses must be able to provide audit reports proving the integrity of these systems.
Many businesses turn to eHRM (Electronic Human Resource Management). Unfortunately, high prices place these systems out of reach for many. Others are scared off by lengthy implementation cycles that sometimes extend months or even years.
ECM technologies can help, and cloud-based ECM does so at a much lower price tag. ECM manages both your electronic HR files and images of paper records, like employment applications, I9, and W4 forms. HR employees can search by keyword to return a listing of all records associated to that value, streamlining access to information. Sophisticated security features can lock down record access to only authorized personnel, and some systems offer the ability to setup electronic routing of records to simplify hiring, discipline, and termination processes.
Look for the following key features when buying ECM:
A system that allows you to integrate paper records, electronic files, email and even print stream data from mainframes
Security settings that customize access on an individual basis and manage the ability of users to read, change, or share documents according to your specific requirements
Data encryption both during transmission and when information is stored
Automated workflow or document routing that can be customized to suit your unique processes
Drop the paper weight! The move to ECM can improve management of personnel records while offering improved productivity, better record security, and cost savings. Cloud ECM makes it even easier to get started. Get your 612 percent today!
HK Bain is president and CEO of Digitech Systems Inc., www.digitechsystems.com. ImageSilo, PaperVision Enterprise, PaperVision Capture and a variety of document and content capturing and management products are available from Digitech Systems.