Archive Systems has been recognized as a sample vendor in Gartner’s Hype Cycle for Human Capital Management Software, 2014i. Is that a big deal? You bet it is! It is always cool to be recognized for the work that you are doing. The really cool thing though, is that this is the first time the category for Digital HR Document Management has been included in this particular Hype Cycle. That means, the word is out – HR Document Management is in.
Author of the Document Management section, Gartner Research Director, Ron Hanscome, gives a benefit rating of “high” for HR departments to adopt a document management solution. We couldn’t agree more.
Hanscome writes, “Digitization of HR documents can result in productivity savings of 15% or greater due to the time saved searching for information versus manually looking through paper files in responding to information requests or compliance audits, and the delivery of secured access to data to HR administrators and managers to support HR processes. Full compliance with complex document retention and storage requirements has the potential for substantial additional savings due to avoiding fines and potential litigation.”
In addition, Hanscome advises organizations to look for Digital HR document management tools that will “enable enterprises to more effectively store, access and manage HR documents while complying with multijurisdictional regulatory requirements for security and retention.” It’s not just large, enterprise companies that are being addressed here. If you have employees, then you have to maintain personnel files. These files are some of the most sensitive within an organization which means that HR document compliance is not just a “nice to have;” it is essential. With both state and federal regulations increasing at a rapid pace, it is almost impossible to maintain proper compliance without a solution to help you automate your HR business processes.
The research indicates that Digital Document Management for Human Capital Management is “on the rise”, meaning that now is the time to get on board and to embrace the digital revolution in HR Document Management. It is not going away, the need is only going to increase and the more paper you continue to produce, the more it will cost you down the road. Moral of the story? Find the right technology now to help your organization reach greater efficiencies, reduce costs and mitigate risk for the long term.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
i. Gartner “Hype Cycle for Human Capital Management Software, 2014” by Jeff Freyermuth, 07/31/2014.