When it comes to software, it is important to have the right features, but you also need good functionality and some risk takers to get the most out of the investment. Features are the capabilities of the software. Functionality is all about how easy it is to use those features and apply them to real world tasks.
Most if not all users will discover the basic features and will become functional once they are trained. Only super users will play around with the application enough to figure out all the features. But how quickly will they translate the discovered features into functional solutions? That depends on how many risk takers there are in the company.
I heard someone say the other day that they would try the new application – “why not, I can’t… Lost Document Cost? – The Search & Wrong Answers
What is the cost of a lost document? There are two components to the cost regardless of the document being either lost or just misplaced.
One component is the potential cost that a decision is made or action taken with incomplete information and there are negative consequences. For instance, if a contract is lost, one party to the agreement could take advantage of the other party. This situation might occur even if a replacement document could be obtained, but maybe not in a timely manner. Therefore, the employee makes a decision based on what they remembered. We call this the “Oh Sh&#” cost because it usually doesn’t get noticed until it is a surprise, and its usually a bad surprise.
Another component is the cost to try to locate the document. Some amount of… When Is Automated Workflow Justified?
There are dozens of processes that every employee must participate in during the typical work week. Review the budget, create the report, enter the new contract. When does it make sense to automate that process?
If the process happens every day all day, yes, automate it. If the process is complicated and prone to errors, yes automate that. What if the process only happens once a week or once a month? Let’s look at a few other key reasons to automate.
Having a flexible solution might help grow the company by attracting new business or expanding in a current area of focus. For instance, if a process requires a special skill set but those employees are difficult to hire, having a cloud based workflow might allow you to offer a work from home option.
Some… It’s Tax Day – Do you know where your Supporting Documents Are?
IRS Publication 4837, otherwise known as “Achieving Quality Examinations through Effective Planning, Execution and Resolution” published by the IRS Large Business and International Division, indicates that it would be wise to have supporting documents readily available when audited. Because you want to defend your position and you really don’t want the cost of responding to the audit to be greater than the potential tax impact.
The IRS will make Information Document Requests (“IDRs”) to support claims made on any entities tax return involved in an audit. Various types of documentation support revenue recognition and expense claims. It is highly recommended that this documentation being organized, accessible and easily reproduced – sounds like a perfect scenario to justify an electronic document management system (“EDMS”).
Some types of documents that support revenue recognition are contracts, leases and licenses. To support transactional events like…
Do we really need a Secretary of the Future?
There are plenty of references in our daily lives to the future and yet, somehow, we don’t always spend time to really consider the future. Songs refer to the future, books refer to the future, so do TV shows and movies, the news and much more. Even the Government is now talking about a Secretary of the Future.
In fact, it may be very useful for all of us to spend a little time each week to consider the future. Not the dreamy type future, but the realistic future that is occurring right before our eyes. For instance, will you need a pen ten years from now or will every contract be signed digitally? Amazing how a simple thought like that can set a process of critical thinking in motion.
Try this to start… Workflow Metrics, the Extra Benefit
All of our clients that have implemented our workflow solution have done so to improve their efficiency and profitability. However, it has become very apparent that there are significant added benefits derived from the process metrics reports that are generated.
A quick definition of process metrics is the number and duration of activities throughout each workflow process, ie. how many completed and how long did it take. Additional measurements are possible depending on other data available within the system, such as completions by region, by person, by amount, etc.
At first glance, gathering the data and measuring the metrics seems like a big brother approach. However, when you look closely, this is a win win situation for the company and the employees and here are a few reasons why:
A win for the company:
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