How to Slash Your HR Budget with Automation

At one time or another, many businesses have had to make tough financial decisions. One way they offset costs is to cut their HR budget by automating certain processes like hiring, payroll, and communication.

Automation is becoming increasingly popular in human resources as a way to save time and money. Intelligent document processing (IDP), in particular, is an AI-powered solution that enables companies to streamline HR processes, reduce costs, and eliminate errors. It can also help to ensure compliance with labor laws and regulations.

Explore the benefits of automation for your HR department and how switching to an IDP platform can slash your budget without sacrificing quality and productivity.

Advantages of HR document automation

IDP is a powerful automation tool that uses AI and machine learning technologies to accurately capture data from documents, such as invoices or employee records. See why more organizations are implementing this automation solution to improve HR operations.

Reduced manual labor

Automation eliminates the need for time-consuming manual processes, such as data entry or filing paperwork, allowing HR departments to free up resources that would otherwise be spent on tedious manual tasks. This time savings translates into reduced manual labor.

Lowered costs

Document automation cuts costs associated with printing, storing, and managing paperwork. Digital documents are much easier to access than physical copies, and they don’t come with moving costs when relocating to another place.

Increased agility

IDP is the fastest and most accurate solution to process documents, which makes HR departments much more agile and efficient. By reducing manual workloads, employees can focus on more value-driven work like responding to candidate inquiries or onboarding new employees.

Improved employee satisfaction

With document automation, businesses can store employee files securely in the cloud and efficiently share those records between different departments. HR teams can access these files from anywhere, quickly approve documents, and enjoy an improved experience overall.

Increased compliance

Automation can help organizations comply with HR laws and regulations by increasing document security and privacy protections. By using an IDP platform, departments can ensure documents are securely stored, tracked, and managed in compliance with applicable standards.

How to reduce your HR budget with automation

HR teams are often challenged with costly manual processes, piles of paperwork, and slow turnaround times. Fortunately, automation solves all these issues and more. Here are the different ways you can use IDP automation to streamline operations and slash your HR budget:

Payroll

For HR departments trying to simplify payroll management, IDP is a great tool since it allows for automatic data capture of relevant information that enables faster, more accurate payments for employees. Effective payroll enhances company culture and lowers turnover rates.

Budgeting

The right technology plays an important role in making HR processes better and more efficient. IDP not only can save time and money but also improve budget decision-making with advanced analytics of your entire document operation.

Employee onboarding

Get new employees up and running faster! IDP improves onboarding by automating mundane tasks and speeding up the entire process from start to finish. It eliminates the need for manual intake and data entry, as well as streamlines data validation in employee documents.

Benefits management

With most employee-employer communications now stored electronically, the need to move away from traditional methods and adopt a streamlined system is more important than ever. 

IDP provides companies with a digital transformation solution that can greatly enhance the efficiency, accuracy, and cost savings of benefits management. 

T&E

IDP makes it easier and faster to catalog and extract travel expenses from documents, such as receipts, invoices, and other financial records. I can automate the entire process of tracking and approving employee expenses, from submission to reimbursement. 

This reduces manual labor and administrative costs associated with managing travel and expense claims.

Save money and time with HR automation

Despite advances in technology over the years, many businesses have yet to modernize their HR processes with automation tools — which can lead to inefficiencies that cost time and money, as well as reduce morale. By automating HR processes, businesses can increase efficiency and accuracy while staying compliant with regulations.

Intelligent document processing is an automation technology that can be quickly deployed, delivering cost and time savings almost immediately. Request a free demo now to see how Rossum can help slash your HR budget while accelerating productivity.