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AN SMB PLAYBOOK FOR BETTER ACCOUNTING & HR PRODUCTIVITY

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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:

The Situation:

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.

The Challenges:

Paperwork is still pervasive

75% of small businesses still use pen and paper to sign documents3.

Busywork abounds

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.

Mistakes happen

60% of accounting errors result from simple bookkeeping mistakes or misapplication of easily understood accounting standards5.


The Solutions:

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.

Ricoh’s Digital Accounting Solutions are flexible, intuitive and easy to implement. Meaning no time wasted on steep learning curves or complicated technology.


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.

Ricoh’s Docuware Solution for Invoice Processing is the perfect next step towards maturing your accounting processes.


The Situation:

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.

The Challenges:

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


The Solutions:

KEEP BETTER RECORDS

Organize and store all your employee records digitally, in one easy-to-access, secure space so that information is accessible from anywhere and on any device by only the people who should have access.

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.

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To learn more about Ricoh’s digital workplace solutions that can help your small business redefine work go to services.ricoh.ca.

1 hbr.org/2015/08/the-research-is-clear-long-hours-backfire-for-people-and-for-companies

2 salon.com/2012/03/14/bring_back_the_40_hour_work_week

3 https://searchcontentmanagement.techtarget.com/news/252467571/Adobe-Sign-for-small-businesses-supports-SMB-digitization

4 https://www.pwc.com/il/en/consulting/assets/finance-effectiveness-benchmark-report-july-2017.pdf

5 accountingweb.com/aa/law-and-enforcement/accounting-errors-fraud-are-common-problems-for-small-businesses

6 score.org/resources/work-me-people-statistics-small-business-human-resource-trends

9 trinet.com/resources/white_papers/TriNet_WP_top5_Concerns_for_SMB.htm

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