Your Document Management Knowledge Center

Although most financial institutions are challenged by the current economic situation, credit unions are especially under pressure to make sound financial decisions. Credit unions are owned and controlled by their members. They want to ensure that the credit union is always making business decisions that will benefit the members, and that budgets are not exceeded. Because of this, credit unions hesitate to allocate money towards implementing the newest technology.

The economy has hit businesses hard and it's causing a ripple effect in the nonprofit industry. To save on costs due to a reduction in revenue, companies have not only cut the donations they have given to charities in the past, but they have reduced available volunteer hours due to a reduction in staff and the need to have more people working in the office driving revenue. This cut in donations and volunteers has left non-profits with a heavy burden.

While many organizations are built of teams that wear many hats, this could not be truer for a nonprofit. With fewer volunteers in the field, the staff in the office now needs to get involved outside the office, causing workflows to back-up.

Technology can play an integral role in making the job of these non-profits easier. However, most non-profits struggle with information technology because of the lack of resources; IT expertise and money to fund technology.

It's important for non-profits to allocate the time to research what software and hardware solutions may be available to help them better manage their business. Often times, spending a small amount on technology to improve your business can save you a greater amount of money in other areas, including hiring more staff. One of the greatest areas where savings can be realized is in workflow and processing of paper documents.

Many non-profit organizations spend extra time processing their paperwork in a traditional manner because their technology budgets just do not include the funds for expensive, up-to-date software which typically needs hardware as well. These organizations can benefit from an inexpensive and easy alternative in which they will not have to rely on an IT support team to properly function. An online application that includes document management and compliance management is an affordable, easy-to-use, alternative providing immediate ROI...

How would an electronic document management (EDM) system satisfy the needs of a non-profit organization (NPO)?

Many citizens struggle to make their mortgage payments as the foreclosure crisis impacts communities. Because of this, affordable housing departments are experiencing an influx of applications for funding assistance with First Time Home Buyer Down Payments, Housing Rehabilitation, Neighborhood Stabilization, Refinance Assistance and Foreclosure Assistance programs.

Healthcare providers are required to retain their Explanation of Benefits (EOB's)for seven years, which can pose quite a challenge. Many of these statements are between one and several-hundred pages long and all need to be reviewed closely to ensure billings are accurate and your services are being paid. Managing paper EOB's can be a tedious, labor-intensive process, even managing the electronic EOB's can be challenging. With a retention period of seven years, healthcare providers need to be sure they have the right system in place to protect these documents from being lost or destroyed.

Most recently, health care providers are also seeking to improve overall operating efficiencies and eliminate rigorous paper processes. Online EOB document retention systems provide solutions to protect information, retain important documents for compliance, and help these providers overcome such operational obstacles. They can:

As the fourth tip in our "HR Management Essentials: Tips for Controlling the Chaos Online,” series, today we are talking about managing company policies, procedures, manuals, handbooks and required forms by keeping them up-to-date with an online document and records management application. 

Tampa, FL (July 15, 2009) – Document Advantage Corporation, (DocuVantage) has partnered with Tampa area Metropolitan Ministries in their effort to fight poverty and homelessness.  During the months of July and August, DocuVantage will make a donation to Metropolitan Ministries in the name of each new customer that subscribes to DocuVantage OnDemand® as part of their “Software for Soft Hearts” promotion.

As a continuation of our DocuVantage series on "HR Management Essentials: Tips for Controlling the Chaos Online," today we are talking about time sheet management, another one of the many responsibilities of a Human Resources department.

As a continuation of our series on "HR Management Essentials: Tips for Controlling the Chaos Online," we now want to discuss a couple of the challenges Human Resources face in managing a new-hire and recruiting process.

The latest edition of the DocuVantage May Newsletter is Now Available Featuring:

• 5 Tips to Stay Compliant with Document Retention
• Feel Safe in a SaaS World
• OnDemand Success Story: Health Integrated
  
• Industry News
• Fast Track Offer: Support UNITED CEREBRAL PALSY

Read the DocuVantage May Newsletter and learn tips to make your business more efficient today!