Enhance productivity with document management software that onboards quickly — and is easy for employees to learn.
In early June 2023, the jobs report from the US Bureau of Labor Statistics showed the unemployment rate continuing to hold close to its lowest level in 70 years. Yet, business owners across multiple sectors report still having difficulty filling job vacancies. What gives?
Indeed, so-called “prime-age” workers are employed, according to the news website Axios Markets. The labor force participation rate among those age 25-53 was above 83% in May—slightly higher than pre-pandemic levels in February 2020. However, overall labor force participation (the share of total population either working or looking for work) is still slightly lower than where it was then–partly due to an increase in older workers retiring.
But even the hot job market can’t solve America’s labor shortage, reported Axios. “For one, more and more Americans are getting too old to work,” wrote Emily Peck. “The percentage of Americans aged 55 and over has doubled over the last 20 years . . . and that population (the baby boomers) is expected to grow.” This demographic trend was accelerated by the COVID-19 virus: “Moody’s [Investors Service] estimates that 70% of the decline in labor force participation since the end of 2019 was because of aging workers—about 1.4 million additional Americans retired,” Peck reported.
Plus, declining fertility rates and increasing life expectancies are expected to lead to a drop in working-age populations across all G20 countries, projects Moody’s. “Korea, Germany and the U.S. are expected to see the sharpest declines over the next decade,” states the bond/financial research firm. So, who is going to do the work—and how?
Tech Can Foster Productive Document Workflows
The availability of talented workers ebbs and flows over time, but one thing is certain no matter the business marketplace: From finance and healthcare to legal and the manufacturing sector, employers no longer have the luxury of bringing on new people and giving them months to be trained. Automation is the key to expediting work today, and an intuitive user experience (UX) is what allows workers to learn and execute quickly.
Workflow automation technology is booming as the digital transformation continues from paper-based to electronic document management. The $5.18 billion (USD) document management software tech market is expected to reach $12.21 billion by 2030, according to Data Bridge Market Research. Some 45% of corporate teams create automated systems to improve business efficiency, reports Workato Inc. And it’s safe to say the percentage is rising with the expanded use of AI (artificial intelligence) and ChatGPT.
Powerful, user-friendly products, such as Eclipse’s DocOrigin solution, can help companies put document design and composition into the hands of business units. “DocOrigin enterprise document software is integrated tightly in our core software,” notes Richard Card, CEO of global software firm Advantage 360. “This provides our customer the ability to generate high-value personalized communication in every customer-facing document and form, including marketing and statistics that give subscribers a crystal-clear understanding of their bills, thereby reducing customer service calls and collection issues.”
DocOrigin generates professional, dynamic, high-fidelity business documents. Whether you need to produce large volumes of invoices or statements, or a single customer letter, it can handle requirements quickly, easily, and affordably. Leverage data stored in legacy, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and other line‐of‐business applications to provide customers, suppliers, and employees with documents that contain accurate information, in the preferred output formats, delivered to the desired devices.
DocOrigin can provide a valuable “assist” with printed labels, too, a critical component for manufacturers such as Pella Windows & Doors, according to IT Director for Enterprise Applications Brad Postma. “We needed a company that … had the experience to offer a stable solution for the capacity of labels we generate every day,” he says. Postma reports that Pella experienced a glitch during roll-out for some of its older printers, “and Eclipse was right there and helped us get it up and running.”
Meanwhile, McKesson Corp.’s medical-surgical unit sought a next-generation solution to replace its print program. “We process large volumes of print, especially at peak times, and needed a more modern and efficient solution,” explains Don Fauth, application development VP. Fauth chose DocOrigin after a previous software platform caused slowdowns that had a negative impact on shipments to customers.
The Ottawa Food Bank is a fan of Eclipse, too. “Given DocOrigin’s flexible architecture, our current data streams could be used as is,” notes Gary McCarthy, operations manager. “Gathered data was readily saved in our desired processing formats, and support was provided every step of the way–from form creation to integration with current server processing,” McCarthy concludes. “Our member agency coordinators now have a much better sense of comfort and knowledge in using the system and feel more in control.”
Competition for highly skilled workers with knowledge and experience in forms design and document composition is expected to be fierce. The demographics and overall labor statistics virtually guarantee that hiring will be challenging. But businesses still need to maintain their company’s library of forms and documents. They need to create new applications as business needs or regulations change. A platform such as DocOrigin can shorten the learning curve and allow complex document design to be performed within business units rather than relying on forms specialists who may be difficult to find.