Millennia Group Blog
Small businesses are always looking at ways to grow and prosper. This is a ritual that is practiced regularly but more now than ever and it’s not limited to small businesses either. But while owners and executives throw sh** at the wall, whiteboard ideas or put on our rally caps to generate that grand, economy saving solution, it’s important not to forget the X’s and O’s. That means do the little things right so in the end the chances of winning (or surviving, depending on your perspective) improve.
That is sound advice even if it is from the sporting world and not Wall Street. So what are some of the little things your organization can be doing to increase its chances of winning? Remember, its little things we are talking about, not “Increase Sales” or “Outsource Production”. More like - does your CRM have the correct industry code for every client or do we have fraud controls in place for our wire transfers? Let’s take some clues from those head coaches who at half time always say, “we need to do better at the X’s and the O’s."text
These 9 suggestions are meant to help your company come out of this pandemic with a fresh, invigorated attitude and a platform ready to take advantage of the opportunities that come your way. And, if your company has a document management system, substitute “network drive” with the name of that document management system. Good luck and can’t wait to see you on the other side of this.text
There are plenty of companies and individuals making decisions over the past few weeks and for the coming few months that are based on a get-it-done strategy. This is completely understandable as we all face unprecedented business and personal circumstances. Looking on the bright side of things, some of these “as necessary” reactions and solutions may just be the spark that helps a company be a little more productive, a little more efficient or a little less stuck.
So what parts of the business world is grabbing attention that otherwise gets very little? The mail room for sure. Filing cabinets and the documents stuck in them, absolutely. Virtual video conferencing backgrounds so nobody sees your bedroom, I mean home office. The quality of the mobile phone carrier and the quality of headphones will definitely get a look. There will be plenty of stories from people forced to work remotely or otherwise change their work habits.text
Having clean data is important for running any business. Clean data being defined as accurate, suitable for its use, organized and complete. Clean data means revenue is maximized, the IRS stays at bay and your strategy sessions are effective. However, what once seemed clean can end up looking very dirty when that data is exposed through a different lens.
What worked as good data in the old accounting system may fall short in a new system. A well-organized network drive full of supporting files can look like a spaghetti bowl when trying to migrate the files into a document management system. No big deal if the data isn’t perfectly clean, it’s worked so far. That may be true, but what are you missing out on?text
Given that we are coming up to the end of the year, we thought it would be helpful again this year to provide some ideas on how to use your time wisely, if and when projects and meetings slow down at year end. In order to have this supposed time available does presume that you are working. However, even some simple changes or small efforts can produce a tangible and noticeable effect across the company.
Change can be difficult but also extremely rewarding. Reach out to your co-workers, talk to others in your industry or even just friends and family about new things they are doing at work (that make their lives easier). Best of all, talk to existing vendors that you trust and like to work with to see what more they can do to help you. You can even reach out to other vendors to see what other opportunities might exist. Call it R&D. Call it whatever you want and here are some ideas to get you started.text
We have been researching the idea of creating a Bot as an enhancement to our workflow and document management solution. The struggle is defining what this Bot is going to do. There is no single definition of what a Bot is or how it can be used, but we generally think of it as a process automation tool.
Despite “Bot” sounding like it could be a piece of equipment, ie. RoBOTic Process Automation, it is generally a software solution that could be mimicking human thought process or even keystrokes. There are a lot of thought processes and physical processes that could be automated. Is there an ideal use of such a diverse and powerful tool?text
Regardless of the industry, at every trade show, in every webinar and at every lunch and learn the use of artificial intelligence or blockchain has been a topic. It’s been stated and debated about how these technologies are going to revolutionize industries and change our lives. That can be a bit unnerving.
However, there is hope for us, AKA Bob. Blockchain might give us smart contracts built from nothing but data points. No need to also enter the data into another system, the contract is the system. AI will take the document (Word, PDF, etc) and it will interpret the information and populate the system automatically. Poor Bob, who previously found, interpreted and entered the data, gets left out of the process. But wait….text
First, please take note that we used the word “file” and not “document” in this blog title. It’s true that less orders, correspondence, contracts, etc. are being memorialized on paper or a “document”. However, there is still a “file” being created that looks just like the paper document only its PDF or JPG. That PDF receipt is a document and is the buyer’s proof of the transaction so they want it.
The receipt gets emailed to you (system #1) but then you forward it to an accounts payable system for processing (system #2). Later, that same file is sent to a co-worker who had a question about it. Maybe that was sent as an attachment in an instant messenger system like Slack (system #3). Or that file was pushed out to Box as part of a special project (system #4). You get the point, that file is everywhere now. Where isn’t that file is more appropriate today. But why should that be a concern?text
We recently sponsored and exhibited at two technology focused trade shows. As most companies participating in these shows know, it’s a good way to see existing clients and to meet new prospects. But its also a good way to stay informed about industry advancements and news, however optimistic. There can be lots of very optimistic talk and presentations in the tech community.
Here’s the thing, however optimistic some people or companies might be, some of those plans and ideas probably make good sense and will someday become the standard. Of the current crop of hot technology topics, such as artificial intelligence (AI), blockchain, bots and robots, we are optimistic about…text
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