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Millennia Group Blog

Not so fast with “bring on the auditors”

Steps - by Jordan Schwarts via Flickr

As a follow up to our last post about having a system of record to make audits seem like a walk in the park, there is more to it.  Recall that a system of record document management solution holds the confirmed supporting documentation for your critical company data, such as, transactions, client accounts, vendor contracts, etc.  If your current file storage solution is not working and you want to convert it to a system of record there are a few things that are required. 

Like all good things, it will take some effort on the front end.  But as we stated in the last post, it is well worth it.  And the value is more than just having a better audit experience.  Its worth it because…

You need a smaller house

Via Flickr - Nicolas Boullosa

Has anyone experienced the dad who angrily says ‘where’s my screwdriver’, because it wasn’t put back where he thought it should be.  Are some of your family members more organized than others?  Is one more detail oriented or creative or devil-may-care?  Maybe if your house was a lot smaller, say one room, you wouldn’t have this problem.

Ok, blow that up by 1,000 work associates and think about your critical information.  You can’t make that “house” smaller.  No HR department can choose work associates who all think and work alike.  And you can’t effectively force a single method.  What can be done to give users a reasonable chance to avoid wasting time looking for that screwdriver?  Or more importantly, avoid a negative compliance or…

Are file rooms making a comeback?

Via Flickr - Mohamed Baseeth

There was a time when all important company information was on a shelf or in a file cabinet.  Well organized companies could be fairly satisfied that people could find legal documents in the legal department and accounting files in the accounting department.  And with photocopiers and overnight delivery services, documents could even be shared.  When the department appointed a czar to manage their stash of documents, it all seemed to work even better.

But we all know how the story ends.  The czar retired, the company bought four other companies, people forgot the alphabet and this new-fangled computer thing arrived.  Then people weren’t so happy.  Documents weren’t easy to find.  However, with email and the internet, documents did become easier to create and…

Risk – Identify, Calculate, Assume, Navigate

Business is full of risk and yes, I CAN live with it.  In fact, having a risk management approach to your business can be hugely beneficial.  Once you have identified the risk and calculated the amount of risk, you can either assume or avoid the risk.  If you assume the risk, then it is imperative to navigate or manage that risk.

Most businesses manage a variety of risks usually around customer, vendor, market or government.  Lately that has expanded to include environmental and social media risk.  It turns out that beyond being excellent tools for improving efficiency and enabling remote work, document management and workflow are risk management tools as well.  Here are some thoughts on how the two work together and how these tools will…

Wow that’s messy

How can artificial intelligence (“AI”) help you?  Cleaning out the garage or basement?  Reorganizing your closet?  Organizing your family photographs?  Some readers are experiencing anxiety just reading those words much less actually trying to complete those tasks.  But AI is not going to help in those scenarios.

Here’s another anxiety generator – reorganizing and cleaning out your company file server.  Imagine how good that would feel, especially if AI did it all.  Sorry, but that is not likely to happen either.  At least not on its own.  But you if you want to achieve the significant benefits of well organized, accessible information, here are some tips for such a large, complex project.

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A record of the truth

What’s the core record for your business?  The order, contract, application, evaluation, presentation and subscription all come to mind.  It doesn’t matter if your business sells cars, office space, ideas or medical services, there is a necessary recording of the transaction and end product to the transaction. 

The progression over the past 30+ years has been to devise ways to make the recording, tracking and documentation of your business as streamlined as possible.  That entailed digitizing that path.  But digital data isn’t always what it seems and therefore the support for the transaction is still a key component of every business.  What is your key Record?

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Is this the real end of paper?

The paperless office concept has been talked about for years.  In fact, at least for all of the 25 years that Millennia Group has been in business with that as our focus.  But, here we are and our facility is full of boxes of paper documents that our clients want scanned.  And more boxes arrived today.

But now the concept is no office, not just no paper.  So if there isn’t an office, that pretty much means no paper, right?  What else does it mean?

There is scanning work to be done.  If there was an office and now there will be no office, then any legacy paper files will need to be scanned.  This is achievable with either internal or external…

Pandemic Pajama Plan

via Flickr - Nelson PavloskyThese 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.

Top 9 Pandemic Pajama Plan Items:

  1. Purge old electronic files.  Have employees purge files from their personal folders or shared folders that are not necessary for company purposes.  The three main records retention classifications include: legally required, operationally required and historically important.  Don’t destroy records that are need for legal or compliance reasons.  Don’t destroy records that…

Friday the 13th can happen any day

via Flickr - Stefano CobucciNormally we don’t do a blog post on a Friday, but since this is Friday the 13th it seems like a good time to remind everyone that document disasters can happen any day.  The cause of these disasters is usually us and we can screw up today or any day.  So be careful, be diligent and try to be organized.    

What are the typical disasters that can happen?  Accidental deletion of a document, a file dragged and dropped into the abyss, version nightmares ie. V1, V2, V998 and counting, files that are too large to email or upload or download, and on and on. 

Accidental deletion is a bad one.  The only advice here is to be extra extra careful if you know the file storage location doesn’t have backup or only has backup nightly. …

Digital War Rooms – Avoid Casualties

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…