Every business, regardless of size, can benefit by the use of automation. It simplifies areas of a business by automatically accomplishing tasks that an employee would otherwise have to do manually. This is especially true for back office processes for small businesses. The Small and Medium Business Trends Report from Salesforce from 2017 surveyed nearly 500 small business owners and leaders and reported that “small businesses automating their processes in some way are 1.6-times more likely to be growing than those that don’t. Likewise, growing small businesses are twice as likely to adopt artificial intelligence (AI) as stagnant businesses.”
Processing invoices from intake through payment is not a profit center for any company. Because of this, many companies don’t spend much time, if any, optimizing this process. Instead many rely on the age-old “this is how it’s always been done” mindset with no real measurement around it beyond “did it get paid in time.” The best operations, however, are always boiling down each process to a cost per number. For accounts payable, that number is cost per invoice. When considering the options for AP process automation, it's impossible to determine if there is value in changing your current process if you don’t know what it's costing you to process an invoice today.
Finally getting rid of all your paper documents is exciting and can make your workplace more organized and efficient without all of that wasted money and space. Moving your documents into a document management solution, like Recordsforce Cloud, will give you fast, easy and secure access to your documents. However, once the document preparation process has started, most businesses realize they have a lot more documents than they originally thought. If documents are not properly prepared, it can delay the delivery of accurate work to the subsequent processes of digitizing the documents. There are a few things you can do to help prepare your documents for scanning, which will not only streamline the process and allow us to input your documents faster and avoid potential issues, but will also save you costs in outsourced document preparation.
We’ve all been there — starting a project, unsure if we should do it ourselves or hire an expert to get the job done. Before starting any project, it’s always important to estimate how much time and resources you need to complete the job. When it comes to scanning and digitizing your documents, it can be more difficult than you think to estimate how long it will take. Figuring out how many documents you actually have, and the state of your documents can drastically affect the pace of your project.
Today, business is more competitive than ever. The need to provide employees with the best tools to do business in a financially limited environment is a constant challenge. The debate over “going in-house” versus “outsourcing” has run on for years with companies doing one or the other, or both. For your business, the decision is even more difficult if you have an existing set of records and no equipment or expertise left in the office to handle the responsibility.
If you have documents that you need to keep for regulatory or compliance reasons, you might have considered storing them off site or getting them scanned. Having a framework to help you make the decision as to which is best in what cases can be helpful in understanding when you should continue to store your documents and when scanning them would produce a return on investment.