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Millennia Group Blog

Why is the mustard in the fruit drawer?

Tuesday, July 18, 2017

Via Celeste Lindell at FlickrHave you ever found a jar of mustard in the fruit drawer of your refrigerator?  How about the Penske file in the folder labeled Clients D-E?  Let’s face it, there are those of us that are very organized and there are others that aren’t.  This could be at home or at the office and it can be both frustrating and in the case of the office, costly. 

We were recently asked if there is an optimal company size that dictates when it’s time to use an electronic document management system (EDMS) rather than a file storage solution like a network drive?  I would say as soon as you find the mustard in the fruit drawer, it’s time.  However, there are several factors that should be taken into consideration when considering the need for an EDMS and two stand out, number of employees and industry the business operates in. 

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Search for the needle OR the haystack

Wednesday, June 28, 2017

via Peter Pearson, FlickrThere are many benefits to using electronic documents versus paper.  One of those benefits is being able to do a search to quickly locate the one document that you are looking for.  This takes only a matter of a few seconds in most any document management system.

But what if you are looking for more than one document?  What if you need a collection of documents, like all of the contracts for customers with model number 123abc?  What if you aren’t exactly sure what documents you need and only have a few pieces of information to go on?  This is where you will get your money’s worth when properly configuring your document management solution.

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Looking well beyond the next quarter

Friday, June 16, 2017

Millennia Group just wrapped up being a sponsor and participant in the 19th annual Realcomm IBCON tradeshow in San Diego.  This is a show dedicated to the understanding and use of technology in the commercial real estate industry.  As one might expect for a technology show, there were some familiar topics including robotics, artificial intelligence, blockchain, virtual reality and renewable energy.

The current news touches on these topics, but from a different angle; the death of the retail industry, the reshaping of office workers and their environments and Amazon warehouses – they’re popping up everywhere.  After 19 years of participating in this industry trade show, it is still very clear, there is a long term focus in this industry, well beyond how these external forces will impact the next quarter.

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Technology goggles make work flow

Wednesday, May 31, 2017

via Flickr - Chief RangerThe first thing that comes to mind when you hear about workflow is most likely order and process.  There is validity in that thought.  Workflow is intended to deliver efficiency and cost saving by using defined order and automated process. 

Defining what the process should be is the tricky but necessary part and it’s the fun part.  Yes, fun.  When you dig in and people realize how many time wasting tasks can be eliminated, you can feel the joy.  So how do you re-connect the dots to create an effective digital workflow and really make work flow?  Put on your technology goggles and look at the process.

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Blockchain vs Digital Signatures

Monday, May 15, 2017

via Flickr, Jon PhillipsBitcoin continues to make news and inroads into the world of finance.  Two of the basic technologies that drive Bitcoin include blockchain and peer to peer computing.  These two concepts are relatively understandable.  Blockchain uses a distributed ledger, which is essentially a list that is shared across many computers (peer to peer).  Because many computers contain a time-stamped replica of the data, it is very difficult, and expensive to hack or change the data in a fraudulent way – and its encrypted.

These concepts are moving into other areas such as smart contracts.  However, these contracts are not documents as that term is generally understood.  The smart contract is essentially a perfectly known set of conditions and data, that when met, results in a payment or action.  The contract is essentially data points; house address, meter number and usage, bank account or Bitcoin account, electricity rate, dates.  All immutable data that can be kept in a ledger. 

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Digital War Rooms – Avoid Casualties

Thursday, April 13, 2017

Via Flickr - Gustav von RosenhelmFor the past 15 years or so the standard process for transaction due diligence is to upload information and documentation into cloud based digital war rooms.  These secure, online document management systems have been beneficial to buyers and sellers and especially lawyers and financial analysts.  Reduced travel and less time spent in windowless rooms reviewing and copying documents by the thousands are just two of the many benefits.

The information that is uploaded is driven to satisfy the seller’s requirement of disclosure but not optimized for the buyers post deal operations.  If the buyer leaves the information in the native structure, there will always be user frustration when searching.  Multiply one dis-organized silo by many transactions and now you have a whole lot of user frustration.  Here are some suggestions for tackling the transition so that operations is able to perform at peak levels.

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To Purge or Not to Purge

Friday, March 31, 2017

via Flickr, Liz WestBased on my observation the world consists of two types of people, purge people and non-purge people.  We all know which category we fall into, but as a reminder:  Purge people frequently empty out desk drawers, closets and the garage of useless documents, old clothes and stuff. Non-Purge people don’t.  And yet, we all co-exist.

There is a business practice that you may be familiar with called Legal Hold.  If a company is aware of or suspects litigation, that company should place all records and information related to the litigation on legal hold – don’t let the purge people get to it.  Of course, nobody is happy when there is litigation, but how is it possible to lock down (or not over accumulate [non-purge people]) information in this day and age?

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I need a little wiggle room to be productive

Wednesday, March 15, 2017

via FlickrThe security of the information that our clients have entrusted us to host in our document management system is paramount.  Clients demand that their information remain private and confidential and we absolutely understand and abide by that.  The SEC, auditors and sound business practices demand it too.

Our clients concern certainly includes stopping bad actors, but it also includes the people that they set up as valid users – they should only see and share what they are allowed to see and share.  However, as far as sharing goes, some flexibility is needed so that users can be productive.  Here are some thoughts on why wiggle room is needed and how sharing information can be protected.

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My PDFs are Dazed and Confused

Tuesday, February 28, 2017

One of the core principles that Millennia Group advocates and adheres to is that the official copy of a digital document should be a singular unit.  What this means is that the digital version, a PDF in most cases, should contain only one document.  What our users encounter, and sometimes want, is a different story.

A user may receive a single PDF from an external party that contains many documents.  The other situation is where the user receives multiple PDFs that together comprise a single document.  In one case the file needs to be split and in the other case, the files need to be merged.  Here are some examples of why this principle of a singular unit makes sense when your PDFs are dazed and confused.    

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Active vs Final - Revisited

Wednesday, February 15, 2017

Via Flickr - Martin HostThe good thing about this blog is that I don’t really need to have answers.  That is especially good since I am re-visiting the discussion about working documents versus final documents.  It comes up in most every discussion about effective document management – how do I have one system that provides the functionality that I need for both working documents and final documents.

Recall from our earlier post about how creators of working documents tend to like fast and simple – a system where the user can create any collection of folders and subfolders to suit their needs and drag and drop files at will.  A user of final documents requires structure and certainty because having quick access to the right documents gets the job done.  However, at some point the documents in that web of active folders become the source of final documents.  So, is the method of transition from one status to the other the answer, are document police the answer or should there just be two systems?

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