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New Year, New Me? Business Resolutions for 2017

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Routinely, the first few days of every new year are drowned in the classic acclamation of New Year, New Me. This phenomenon can be traced as far back to the Babylonians. The practice of promising improvements, good deeds and self-betterment has been around for thousands of years and we expect so too has the reneging on these promises.

Hands up if you’ve ever bought gym membership in January?

Breaking our comfortable routine in the aim of exercising, reducing alcohol consumption, reading more, smoking less is a challenge many of us fail to complete. The lack of accountability and repercussions makes flaking on our resolutions far too easy – on a personal level.

But what about on a business level? With heightened accountability, KPIs, company oversight and corporate governance, businesses can use the structures already in place to make real change in their organisations in 2017.

Setting company goals and targets at this time of year is familiar practice, but what about company resolutions? New Year’s resolutions for companies need not be a wish-wash of vague jargon, but rather implementable practices that can contribute to achieving the goals and targets of the company.

Resolution #1 – Increase Efficiency

“Efficiency Is Doing Better What Is Already Being Done”
– Peter Drucker

Successful companies have successful practices in place. However, improving technological advances are continually giving companies the opportunity to improve efficiency. Take for example Inpute’s Digital Mailroom solution.

Organisations large and small are under pressure from the continued growth in the volume of their mail across the paper and digital spectrum. Traditional mailroom processes are slow and inefficient and are dominated by paper documents. The challenge of managing these volumes and the distribution and routing of mail puts pressure on the operational efficiency of these companies.

Inpute’s Digital Mailroom solution provides for the automation of the delivery of mail whether the source is traditional or electronic. The Digital Mailroom automatically captures and classifies all information entering an organisation, then routes it to the appropriate person, department, backend ERP, CRM, Enterprise Content Management system or workflow solution.

It also provides tracking and auditing of that correspondence. Return on investment is rapid, costs are reduced and significant gains in productivity and customer service are achieved. By digitising the incoming mail process efficiencies are achieved, control of the process is gained and compliance requirements are adhered to.

Resolution #2 – Reduce Costs

“Beware of little expenses. A small leak will sink a great ship”
– Benjamin Franklin, 1758

Primary maths would tell us if we reduce costs we will have more profit. However, there is a business cost to irresponsibly cutting costs. Responsible cost cutting is not about removing services, tools or staff. Rather, it is about replacing tired, not fit for purpose, stagnant practices and replacing them with cost saving, efficient alternatives. Take for example Inpute AP.

Accounts Payable processes pose problems for most businesses. Research suggests that processing an invoice can cost as much as €27 and even higher if an invoice has been misplaced. By automating the AP process, efficiencies are significantly improved and costs reduced.

Inpute AP meets these challenges by automating the data capture and approval processes. Business logic is applied, validation is achieved and exceptions are flagged for review, with data automatically exported to third party applications, as required.

At the approval stage, Inpute AP routes transactions to business users for review electronically while the AP team has visibility of an invoice’s status, with approval limits and rules automatically applied. Once a transaction has been completed, data is automatically exported to leading accounting platforms.

“While most AP departments are condemned to a life of paper and back-office bottlenecks, smart leaders realise that improving AP operations can actually be key to saving money and creating efficiencies company-wide.” – Danielle Simer.

Resolution #3 – Move to a Paper Free Office

“Scanning enables you to go all digital internally while waiting for the rest of the world to catch up.” – Bill Gates, 1999

Inpute are championing the move businesses should make to decrease the masses of paper in their offices and move to a paper free environment.

We know first-hand the cost saving and productivity increasing potential that a paper free office can achieve. Our expertise in this areas means our clients have efficiently moved towards being completely paper free with solutions such as our intelligent Digital Mailroom solution as mentioned above.

The Association for Information and Image Management’s (AIIM) research indicated a “hybrid approach of centralised and distributed capture is in place for 29% of [their] respondents” meaning over 70% of responding businesses are still in need of an automated system that captures and classifies all information entering an organisation.

Kevin Craine, CEO Craine Communications Group further cites AIIM’s research stating “a majority of companies (67%) feel that handwriting and annotations will “play a key role” and are “quite important” for their future capture strategies.” As a driver of handwriting capture, Inpute having been marketing, implementing and supporting document capture solutions since 1998 and over this period have built unmatched levels of experience in implementing enterprise wide capture solutions.

Think about your businesses goals and targets. Is your mailroom cluttered with paper? Are errors being made in the AR or AP departments? Is searching through filing cabinets for wrongly indexed files reducing productivity?

Could making a few corporate resolutions help with these issues? If so, get in touch.

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