Captains of Industry are Building Conglomerations
Lost Document Cost? – The Search & Wrong Answers
When Is Automated Workflow Justified?
Active vs Final Documents – Co-habitation?
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…
Fear of change is okay, if it only lasts 5 minutes
Today, manufacturers and businesses of all types are struggling to meet the new era’s requirements and challenges including personalization and on-demand. The only way to manage in this environment is to have a workforce and applications that embrace and smooth the way for change – in 5 minutes or less.
Unfortunately most employees, even younger ones, fear change. The fear comes not only from having to learn something new, but also from a break in routine or loss of time. With the crazy busy schedules that most employees have…
Poor Man’s Business Intelligence
During a recent lunch conversation a comment was made about the great benefits of business intelligence (“BI”) – a tool used to connect lots of information dots to generate useful data. However, that was quickly followed by a second comment about the often failed attainment of those benefits. The culprit seems to be bad or incomplete historical data, ie data stuck in documents or inconsistently entered data.
Another discussion at this lunch centered on co-tenancy, a complicated topic that impacts the commercial real estate industry. As an example, a co-tenancy clause could allow one tenant to reduce its rent if another, typically significant, tenant exits the property. The significant tenant is a draw to the property that benefits other tenants. So how do these two topics…
Document Sharing – Why Overcomplicate it?
Workflow Metrics, the Extra Benefit
A Life Lesson – Sharing is Good
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