How Technology Reduces Paperwork for Companies

One of the most annoying realities of running a business, any business, is the spectacular amount of paperwork that has to be filled on a daily basis and whose handling starts occupying the better part of the workday for the owner, as well as many other people in their company.

The good news is that this is the 21st century and that there are plenty of technological advances that allow the modern business owner to reduce the amount of time spent on the menial task of paperwork.

Today, we will be investigating all of the ways in which modern technology enables this.

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HR is Fantastically Streamlined

Human resources, the part of the business world that is concerned with finding and hiring the right people and making sure they are as productive and happy as possible, has traditionally been mired in paperwork. Handling so many different people’s profiles and data demanded enormous amounts of paperwork and it ended up being so that HR experts spent most of their time doing nothing but filling in forms.

Today, the world of HR is dramatically changed when it comes to the menial paperwork tasks.

For example, instead of job applicants sending in their resumes and letters of application on paper, they can do this electronically, allowing hiring managers to easily find and sift through all of the applications. Correspondence with the most attractive applicants can also be done electronically, speeding up the process even more.

Once an applicant is hired, the company can easily process them and put them on the payroll in matter of minutes using specialized software. Moreover, the onboarding process and the training take a digital form, further simplifying things.

Performance reviews are also made simpler and they do not end up in stacks of paper that make very little sense after a few weeks have passed.

Not only has HR been saved from all the paperwork, it has also become more efficient thanks to various software solutions developed for the industry.

Licenses and Taxes Done the Easy Way

One of the more complicated things to do when running a business is making sure that you have all the right licenses, insurance and whatnot and also that you pay your taxes regularly and in full.

Considering how many licenses and papers you need for a single company, this was paperwork hell and it is a good thing that most countries have done fantastically well to enable their business owners to do much of it online.

You will have to register your business with the local government, the local chamber of commerce and about half a dozen other agencies and authorities. You will need to get licenses for your premises and you will want to make sure that you are in compliance with local regulations when it comes to the day-to-day operation of your company. If you decide to pursue government contracts, you will need to purchase a bid bond.

Nowadays, you can do all or at least most of it online and this definitely takes the edge off it. Furthermore, thanks to the internet, it is far easier to find out exactly what you need and how to get it without wasting weeks on all of it.

When it comes to taxes, modern accounting software will make your returns much more precise and it will ensure that you do not get in troubles with the tax authorities. This is something no one needs in their life and new technologies prevent this from happening.

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Communication and Contracts

This may sound weird to someone whose career began after the year 2005, but there was a time when companies actually used paper to communicate, both internally and externally.

First of all, there were these things called letters and there were innumerable versions of them sent to suppliers, partners and even customers. Then, there were these things called faxes (which are still surprisingly vital, actually) which were, still, paper. Companies relied heavily on internal memos that were always printed on paper and very official.

The only way you could sign contracts with anyone was on paper, usually in hundred copies, for some weird reason.

After a couple of years, a small company which employed maybe 15 people had entire cupboards of nothing but correspondence and contracts and finding something in all that paperwork was just incredibly difficult.

Today, most of the communication and correspondence is done digitally. Video conferencing tools, emails and other digital communication tools have made it so much easier for everyone involved.

When we are talking contracts, there is an ever-increasing number of companies that use electronic signatures which hold all the validity of traditional, hand-signed contracts printed on paper.

In addition to making communication and contracts simpler, the digital revolution has also made it much easier to find the thing that you need. Instead of sifting through cupboards and cupboards of paperwork, you simply type ctrl+F and find what you need in a matter of seconds.

Closing Word

It is simply incredible the amount of time that business owners and managers can save nowadays when it comes to paperwork. Instead of wasting precious hours on filling in one form after another, businesspeople can now spend their time on what really matters – getting their companies ahead.

And it is all thanks to new tech.