Conventional methods have long hindered companies from realising the ultimate potential of BGV. However, businesses are now refusing to settle. Across industries, a transformative journey is underway. A new era of BGV, marked by heightened efficiency, accuracy, and speed in the screening process. If you’ve yet to embark on this evolution, this material is for you.
In the new normal: Digital transformation propels employee background checks forward. 72% of companies acknowledge that technology assets and tools have made BGV smarter, faster, and significantly more accurate. (Source: Economic Times)
The global pandemic has introduced uncertainty across sectors, prompting businesses to diligently adapt to the new normal. As the magnitude and depth of frauds expand, there emerges an enhanced focus on redefining human capital risks. Adoption of technological tools will be the game-changer.
According to a global survey, companies worldwide are racing against time, with 68% prioritising speed in screening, and 49% emphasising accuracy. This has fueled the adoption of tech-powered BGV. Companies unapologetically seek higher accuracy, reduced application dropouts, and quicker TATs. Not to forget, compliance.
The transition from slow and clunky traditional manual processes to digital BGV signifies a significant leap in HR. This shift is driven by some alarming statistics: A global study reveals that a 57% surge in discrepancies has been caused due to human error. (Source: Indeed)
Time for robust and automated verification systems is now.
Take this case: Previously, Address Verifications relied heavily on physical checks. It used to be more detective work than BGV. However, a recent breakthrough introduces Digital Address Verification (DAV) solutions as true showstoppers. With DAV, companies can seamlessly verify a candidate’s identity and address in real-time across any part of the country. This process utilises image recognition, GEO-tagging coordinates, and face match technologies, all completely automated, 100% digital, and accessible through a smartphone. This is just one of the many examples.
Accuverse harnesses the power of technology for real-time verification, accelerating the process, eliminating human error, ensuring secure data exchange, enhancing the candidate experience, and effortlessly scaling to meet high-volume hiring demands. Clever. Reliable. And breathtakingly fast.
Cherries on top: Not only do you receive real-time results with zero human errors, but you also reduce labour and logistics costs, enhancing operational efficiency. Viola!
While technology has undoubtedly automated processes, the necessity for a reliable partner well-versed in the intricacies of BGV remains paramount for businesses.
Understand this: While technology automates and expedites checks, companies also require a reliable partner capable of conducting holistic business analysis and providing tailored checks for their diverse objectives (dual employment, eligibility for directorship, etc.). Technology alone isn’t enough.
At Accuverse, we are led by risk intelligence, cognizance of human capital, and supremacy in technology. Our tech-powered solutions analyse extensive data sets, identify discrepancies, and provide fast real-time results, minimising hiring process duration and ensuring the onboarding of authentic candidates. Additionally, we tailor our screenings to align with your diverse business objectives — the real 360-degree approach. Technology-driven but smarter.
HRs must introspect: As technology becomes accessible to all, the likelihood of discrepancies increases. Combating fraud is a constant challenge. The demand for smart solutions will only grow with increased digital adoption and trends like remote working. Companies have no patience for slow and cumbersome verification processes. They are compelled to resolve tech challenges with tech solutions. Accurate, safe, fast — companies want it all, and they want it promptly.
