2021 in Review: How Technology & BPO Benefited Business Operations
Amid lockdowns, supply chain blockages, and staff shortages, the world faced yet another year of pandemic-related challenges that shifted the ways we collaborate and work. With so much uncertainty over the past two years, it’s no surprise that many are still feeling a little overwhelmed.
Despite all the challenges, many organizations implemented creative and technology-based solutions to improve operations – even while working remotely. Below, we look back at the past year through some of our most widely read content around how technology and business process outsourcing (BPO) reduced remote work security risks, resolved the issue of being short-staffed, and helped organizations operate more sustainably.
Working Remotely with Security in Mind
Throughout 2021, fraud remained at the forefront of technology implementation. And after a 2020 survey conducted by the Association of Certified Fraud Examiners (ACFE) revealed that 71% of the anti-fraud professional respondents expected fraud levels to increase over the next year, organizations were right to prioritize remote security.
2021 proved that increased remote work increases security risks, particularly if your organization utilizes a shared drive vs. a more secure document management software solution. Unlike a shared drive, document management software provides an organization-wide solution to security risks as well as other remote work challenges. How? Through role or group-based security, temporary guest access options, and secure remote accessibility.
While adopting secure tools is critical across all departments, many companies particularly prioritized fraud prevention in their accounting departments. Organizations spent time learning how the right AP automation and outsourcing solutions can help avoid the ongoing risks of fraud all while alleviating the busywork of accounts payable tasks and facilitating remote efficiency.
Key components of the ideal AP automation solution include digital mailroom, workflow automation, and cloud document management software. A solution made up of these leading technologies can integrate with existing enterprise resource planning (ERP) or accounting software, so employees can retrieve invoices from the system they’re used to working in, from anywhere, workflow automation, and cloud document management software. A solution made up of these leading technologies can integrate with existing enterprise resource planning (ERP) or accounting software, so employees can retrieve invoices from the system they’re used to working in, from anywhere.
Overcoming “The Great Resignation” with the Right Tools
After a record number of employees quit their jobs, it’s no secret that 2021 was the year of “The Great Resignation.” According to the U.S. Bureau of Labor Statistics, 4.5 million Americans quit their jobs in November 2021 alone.
The historic high quit rates left companies without the resources they needed to effectively complete tasks. Fortunately, digital transformation solutions came to the rescue.
Such solutions automate processes, enabling smaller teams to complete larger amounts of work faster and more cost-effectively. Not to mention, they can help attract and retain top talent for companies that require additional staff by creating a secure work-from-home environment. With one of the primary factors that contributed to the record high quit rates being the heightened demand for remote work flexibility, this is key to overcoming “The Great Resignation.”
Increasing Sustainability with Paperless Solutions
Sustainability was a significant topic throughout 2021 as organizations found new ways to shrink their environmental footprints. According to the Science Based Targets initiative (SBTi), which is a partnership between CDP, the United Nations Global Impact, World Resources Institute, and the World Wide Fund for Nature, over 2,000 organizations across the world are taking action to make the zero-carbon transition.
Going paperless is just one way to reduce carbon dioxide emissions and your environmental impact. You can utilize technologies like workflow automation software, document management systems, and e-form software to support a zero-waste future. Document scanning is also a game changer when it comes to going paperless. While it doesn’t completely eliminate paper, it does eliminate the need to create more copies of documents for physical distribution.
Adopting paperless solutions is an eco-friendly tactic for helping the planet, supporting an increasingly digital, remote workforce, and ensuring business continuity.
Your Trusted Digital Transformation Partner
With 30+ years of experience and a wealth of diverse technology and BPO services, MetaSource can help you to identify and implement the right productivity solution for your needs. If you’d like help in accelerating your digital transformation this year with whatever 2022 has in store for you, you can download our digital transformation guide or contact us today.