How to Reduce Costs with Electronic Forms

The-Impact-of-InefficiencyThere are plenty of businesses who use forms both internally and externally.

We often see internal forms such as time-off requests, purchase orders, reimbursement requests, and managerial reports. These are frequent and, to be frank, they're not going anywhere anytime soon.

In fact, internal forms are only going to increase as your company scales. The more employees are added, the struggle to keep up with the appropriate forms and submissions becomes a serious strain on common departments such as accounting and human resources.

Managers and executives know that the most common way to handle a problem of increased workload is to hire another team member for the department being taxed - this can be costly and often will not show ROI for work completed initially due to training and unfamiliarity with internal systems.

This is a great opportunity for electronic forms and process automation to alleviate the stress on departments in your company.

With electronic forms, the information for purchase orders or reimbursement requests can be filled out in a web browser and then submitted automatically to the appropriate approving authority, established by existing business rules that are easily programmed into the software.

This takes the processing time for each set of forms from potentially days down to minutes, and allows the company to focus on hiring value-adding employees to the company, who can help increase the company's revenue instead of trying to handle the scaling internal workload.

With this theory, a company could then start implementing external forms - allowing customers to fill out applications or forms online, that become visible and transparent in a portal. Making your process visible to your customers and clients gives them peace of mind while they are awaiting task approval or completion and keeps them informed.

For the business, it allows customers to be acquired quickly, and allows for less manual tracking and processing of submitted information by more of the same automation mentioned above - the documents required, for example, in a financial institutions client onboarding process, will push the documents along with notifications to the appropriate staff members inside the organization, allowing for more prompt and quality service to the clients and higher efficiency inside your organization.

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