It’s no secret that accounting and HR are two areas SMBs find themselves struggling to manage. Why? Because, on top of being a business owner you’re also tasked with being Sales, Marketing, IT, HR, and Accounting. If you aren’t doing everything yourself and you have a team of employees, it’s also likely they wear multiple hats too.
So how can you be productive in any one area? Fortunately, doing more with less is in the DNA of most small businesses. Removing some paperwork or automating a few processes can free up you or your employees to focus on the more important responsibilities they were hired for in the first place. SMBs are uniquely positioned to benefit from this approach since change can happen more quickly and easily than in larger organizations.
Here are two common scenarios that play out for small and mid-sized businesses and how Ricoh can help:
Your accounting people are drowning in paperwork.
Like most small or mid-sized businesses, the team that handles your accounting runs lean. If you’re lucky you have one or two dedicated employees. More likely someone on your staff manages the finances in addition to their primary responsibilities or maybe you do it all yourself.
Paperwork is still pervasive
75% of small businesses still use pen and paper to sign documents3.
Only 24% of accounting employees time is spent on value-adding insight-generating activities4.
Bad processes add risk
Disorganized accounting processes can increase the likelihood of security breaches, fraud or compliance issues.
60% of accounting errors result from simple bookkeeping mistakes or misapplication of easily understood accounting standards5.
Digital beats paper
All those hours filling out paperwork really add up. Moving to digital processes can drastically cut down on the amount of time required to handle transactions and reduce costs.
Focus on workflows
Once you’ve gone digital you’ve opened up a world of opportunity for process optimization and even automation. Invoices can be scanned directly into the system. Requests can be approved, sent back for adjustments or filled into accounting software with a few clicks.
Your HR processes are…messy.
Most small and mid-sized businesses don’t have much in the way of dedicated HR staff. In many instances, they don’t have an HR-only employee at all, in which case those responsibilities often fall to the owner or office manager.
HR is time-consuming for owners
On average, HR work consumes 25-35% percent of a small business owner’s time; up to 25% is just handling employee paperwork6
Turnover destroys productivity
A new employee may take 1-2 years to reach the productivity level of the person they’re replacing and turnover can cost 75-150% of an employee’s salary6
Compliance can be costly
Small and mid-sized businesses spend as much as 80% more per employee than large companies to maintain regulatory compliance9
KEEP BETTER RECORDS
AUTOMATE THE PROCESSES
When it comes time to collect employee information, completing forms, going through onboarding checklists – much of the work remains the same regardless of the new hire. Why not automate repeatable steps and standardize the processes that consume valuable time?
Ricoh’s Docuware Solution for Employee Management makes all this possible and more. Check out the brochure for more information.
To learn more about Ricoh’s digital workplace solutions that can help your small business redefine work go to services.ricoh.ca.