Founded in 2009, Practo is a leading integrated healthcare company that brings seekers and providers of medical expertise on a common platform. Right from finding and booking an appointment with verified doctors, booking diagnostic tests, obtaining medicines, to storing health records, etc, Practo provides patients with a wide range of healthcare services that are high-quality, trusted and affordable. The digital healthcare expert has been leveraging the power of new-age technologies to impart superior experiences to the masses.
Practo has a large, diverse team comprising of over 2,500 employees. The company keeps increasing its pool of people in order to fulfil the evolving business requirements. Human Resources (HR) therefore plays a pivotal role in the organisation, since new employees need to be continually recruited, onboarded and engaged within the organisation. Besides this, Practo also continues to tie up with more and more doctors globally on an ongoing basis. All this involves a great deal of signing and documentation work.
Traditionally, prior to integration with MSB Docs, all HR processes including employee onboarding, engagement, payroll, employee exits, etc were conducted manually at Practo. Important documents such as job contracts, background check reports, contract extensions letters, offer letters, NDAs or confidentiality agreements, etc had to be manually generated and circulated around to gather physical, ink signatures. Often, signatories were located across different company offices, in the case of which print outs were taken and shipped out to different locations. The signed documents were then collected back and manually archived. The same process was repeated for tying up with doctors globally.
Over the period of time, the company realized that the manual way of signing and documentation was extremely slow, exhausting and inefficient. A few of the challenges that Practo faced are listed below.
Delayed Employee Onboarding
The manual way of document handling resulted in a high document turnaround time, due to which it often took several weeks to finalize and onboard a new hire. With employees joining later than expected, the output at work gradually started getting impacted. Also, such sharp delays many a times led to a loss of interest from the candidates, which could also hamper the company’s reputation.
Decreased HR Productivity
The HR team at Practo was spending too many hours in conducting recurring paperwork. This involved taking document printouts, running around to get hard copies filled and signed, faxing/ couriering documents, storing them in physical cabinets and locating them for audit purposes. These routine, administrative tasks took a toll on the productivity of HR personnel, who were unable to perform other tasks such as employee engagement, retention, etc.
Greater Chances of Errors
The pen and paper way of filling and signing documents invited greater chances of errors. Often, there were instances of forms being incompletely or incorrectly filled. These forms had to then go back and forth multiple times before finally getting approved.
Since the paper-based records were physically stored, retrieval of information was quite a difficult task. Also, physical storage of documents led to greater security issues, which could possibly invite troubles from the compliance, audit and regulatory perspective.
The cost of paper and paper-based processes was significant for the company and was severely impacting their revenues.
As Practo continued to grow, it felt an acute need to streamline its complex signing/ documentation processes, enhance efficiency and minimize costs. The health-tech platform wanted to do away with the existing operational inefficiencies/ bottlenecks and was thus looking for a new-age, scalable solution for the same.
eSignature solution that works exactly how you need it
MSB Docs enables businesses of all kinds to adapt seamless, error-free workflows.
Practo turned to MSB Docs for incorporating its advanced electronic signatures into their workflows. MSB Docs took the lead and automated all the HR workflows of the company. The highlights of the eSignature solution implemented by MSB Docs are given below
- All the physical HR documents were seamlessly converted into electronic documents, and physical signatures were replaced with electronic signatures.
- HR professionals at Practo can now simply send a link to the applicants, clicking on which they can review, complete and sign the onboarding documents directly from any internet-enable device. As a result, all forms can now be signed and completed speedily within a few minutes, eliminating delays which were present in the manual onboarding process.
- Once the forms and documents are electronically signed, they get stored automatically, and one can quickly move on to the next stage of employee onboarding.
- The HR professionals at Practo can now get multiple employee contracts, forms and other documents simultaneously and speedily.
At Practo, paper-based documentation and manual signatures have become a thing of the past. The company is now able to operate in a time and cost-efficient manner, with the following benefits being reaped
- Improvement in document turnaround time – As the cumbersome processes of printing, scanning, faxing, couriering, sending attachments, etc were eliminated, Practo was successfully able to reduce its document processing time by a whopping 79%.
- Reduction in costs – As all contracts and documents are now created and signed digitally, the company has been able to save significant costs related to paper and paper-based processes.
- Enhanced HR Productivity – As the HR employees now spend lesser time on administrative paperwork, they are able to productively perform other valuable tasks such as scouting for new talent, employee engagement, training, retention, etc.
- Secure storage leading to improved compliance – For Practo, ensuring safety of patient records and other critical information is extremely important. With MSB Docs on board, all the company’s documents are now securely stored and safeguarded against fraud, tampering or any external threat. This has in turn ed to improved compliance.