December 1, 2022
While Enterprise Content Management (ECM) is a key driver for a wide variety of fields and industries, there are a few specific areas where ECM solutions have proven time and time again to be the critical component for efficient operations. These include departments such as human resources, accounts, and contract management, typically where large amounts of paperwork, content, and data must flow through multiple controls and processes.
Paperwork and manual processes are a nightmare in those departments. Account Payable personnel have to track the status of payments, match invoices & purchase orders, receive reports, and route payments through the system. Meanwhile, Account Receivable teams would painstakingly enter data manually, ensuring they have proof of payment and keeping track of missed, late, and early payments. HR is subjected to constantly changing records, a vast number of forms, and various other things that require redundant information. Contract writers must track changes manually and revisions while making sure they are staying compliant with legal guidelines. Many companies still do this today. The process is labor-intensive, time-consuming, and prone to error. It's all a massive headache, but with ECM solutions, you can eliminate much of the paperwork and manual processes and drastically reduce the stress and burden.
ECM software typically comes with a plethora of tools and features as well as integrations to financial software to streamline accounting & bookkeeping processes. With the help of easy-to-use digital indexing and data fields, you can simplify the document entry process, which will save hours. Invoice matching and automation let your business operate with ease by routing your invoices to the correct departments for approval. With a streamlined workflow, you're able to notify busy managers about invoices in one click and let them approve or reject them. ECM platforms can really keep inefficiencies out of the way, allowing organizations to get things done faster and more efficiently.
ECM enables the enforcement of a standardized onboarding process for HR. Using an ECM system, W-4s and I-is are submitted digitally to the HR department and filed correctly, avoiding potential misfiling, which could lead to fines ranging from $375 to $16,000 per violation. Collaboration between the HR department and other departments is also streamlined by digitally pushing application submissions to interviewers. Web forms are used when there are many forms where the same data needs to be gathered, stored, and reused. They allow the user to fill in the information once and have it automatically pre-populated and stored for later use. When new employees fill out their personal information, those data can be automatically entered into all related and associated documents, including I-9 and W-4 forms, saving time and reducing errors. All data is accessible only by users with the proper access privileges, ensuring compliance with several regulatory requirements.
It's always challenging to keep track of the many changes in a legal document like a contract. When you're using an ECM solution, you don't have to worry about it. You'll be able to easily collaborate, manage, and negotiate contracts while making sure to stay within the bounds of written terms and conditions. It's simple to create a document that integrates with applications that manage electronic agreements, making it really easy and efficient to get contracts signed. Organizations can also track contract performance using an entire audit trail and automating the contract approval process.
Enterprise Content Management (ECM) systems have capabilities to automate, streamline, and increase efficiency & productivity for all the aforementioned departments. By integrating with other lines of business applications, the capabilities of an ECM system can be extended even further. Compared to manual workflows and disparate systems, countless hours of data entry, searching & retrieving, and filing can be cut down.
Helix International is the industry-leading ECM solution provider with over 30 years of track record in implementing and migrating Enterprise Content Management systems. With over 80+ ECM developers and data engineers around the world, Helix has the expertise and experience to execute and deliver any ECM-related projects with a 100% success rate.
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