November 30, 2021

Two vital measures to preserve the competitiveness of your company: automation and agility

Talent and on-demand services, automation and captivating user experiences: these are the key components of the business model of the new economy. Steve Glaveski, founder of Collective Campus

As Tim O’Reilly explains in his latest bestseller, titled “WTF ?: What’s the Future and Why It’s Up to Us”, the business model of the new economy is based on services and access to talent. demand, on automation as well as on the excellence of the customer experience. This model, most of the tech players have already adopted. This is not necessarily the case for consulting firms that struggle to generate value or the case of other companies.

Thanks to the importance given to innovation at Collective Campus, Mr. Glaveski says he generates four to five times more revenue per employee than the average of the big names in the sector. He believes that the players capable of competing with his company’s results are only those who still manage to charge extremely high fees, but they will not be able to rely on this strategy indefinitely. Today’s customers demand not only a great experience, but also value.

Its goal is to put in place effective practices that allow its employees to do more in less time.

He optimistically predicts that as his business grows, he will be able to further increase turnover per employee by at least 20%, without increasing working hours. The effectiveness of Collective Campus is based in particular on automation and the measures put in place to improve the agility of the company.

Let’s find out how improving two key areas – automation and agility – can increase both the value companies deliver to customers and the return on investment of their efforts:

1. Automate as much as possible

Are the best people in the business wasting time managing manual processes that could be easily automated with the right tools?

  • Manual processes are extremely time consuming and prone to errors.

Mr. Glaveski explains that it is not acceptable to charge clients full price if advisors spend their time dealing with simple expense reports. This process is usually time consuming, as it requires complex spreadsheets, emailed as attachments to other departments who make their changes and pass them on to another department who sends them to yet another department for validation or for update, until the documents return to the original sender.

Some recipients won’t see the email in their packed inbox or in their junk mail, causing delays. And even when all goes according to plan, the advisor making the request must then sort through the changes and compile them into a verified and actionable file. Which is time consuming and prone to errors.

This process can take hours, days, or even weeks – during this time, no one has access to the latest information. The circulation of this document through different devices also represents a major security risk. While authorized recipients wait patiently for the updated document, unauthorized users may be accessing one of its versions.

Customers today demand transparency, efficiency and security throughout the project: this old-fashioned way does not meet any of these expectations.

  • An automated system to improve the efficiency of business processes

Ideally, the original document remains stored in its original location. This can be a central repository or other storage medium, such as the owner’s server. All users in the channel receive a message indicating that they have a task to complete. This message simply contains a link to the shared storage location where the document resides. Stakeholders can add their own edits and comments, which are retained without overwriting the original content of the document.

When all users have completed their task, the owner just needs to see the changes and comments, as well as a full history of user activity.

  • Fewer labor-intensive, error-prone and monotonous tasks

An intelligent information management system automates tasks such as entering and classifying data by pre-filling fields, suggesting tags and applying modification rules. Whether these tasks are performed by external contractors or by full-time employees, the system makes it easy to define security roles so that all parties can collaborate on specific documents.

These benefits are not limited to ordinary tasks and can apply to outsourcing to technical writers, graphic designers or even specialist advisers. Either way, the right information management solutions will facilitate the secure sharing of information.

2. Reduce costs and waste for increased agility and better customer experience

In recent years, customer expectations have evolved: today they demand to work with organizations as modern as theirs, if not more. They want transparent information, collaboration, self-service options, and efficient use of resources. At the same time, they expect the security of their sensitive information to be guaranteed and – just as importantly – to comply with all applicable regulations to which they are subject.

  • Leverage information management to improve the customer experience

Customers today want information available on demand, more convenient and useful interactions and, of course, a partner who helps them manage their information and analytics more effectively. If they improve their own agility, clients expect the consulting companies they hire to support them in this process.

For example, companies often need to view and manage information stored in different systems or repositories. This information may vary depending on the supplier, customer, employees and contractors. CRM, server files, cloud, or even laptops and smartphones … there are many storage possibilities. Without a solution to bring all this disparate data together, a company will systematically waste time searching for the information it needs, and it will be impossible for it to make a good impression by showing its control and management capabilities.

Companies that do not offer this agility will expose themselves to disappointment from their customers. Conversely, actors able to demonstrate their performance in terms of information management will be able to offer more value, or even inspire and encourage their customers to follow their example. An intelligent information management system can connect to or integrate disparate data sources, allowing users to search faster from a central interface, requiring a single connection. In addition, this access remains available at all times, on almost all devices connected to the Internet.

Businesses that allow their employees and customers to access information quickly and easily improve their productivity and provide a better customer experience.

The acronym ROT stands for Redundant, Obsolete or Trivial data. In other words, it is information for which the cost of storing is greater than the potential value it can provide.

Businesses can spend over $ 34 million to keep unnecessary data that it could completely delete. Compliance, Governance and Oversight Council

In some cases, the information may be of no value to the organization, but pose a major risk if malicious actors take hold of it. This data may also be useful, but when information management is compartmentalized and disorganized, no one can find it or even know it exists.

Consulting firms can be particularly vulnerable to these poor management practices because the information they process comes from many different clients or stakeholders. They are also at increased risk, as information stored in their files or on an employee’s laptop may belong to other companies or to former customers.

Intelligent document management can help reduce ROT content and enable organizations to more effectively control, find and manage the information they need.

  • Guarantee the satisfaction of the best talents

In many companies, success depends on the quality of information and the performance of employees. Successful employees expect you to provide them with a modern information system that they can use with pride and even promote to your customers. The flexibility provided by tools that allow people to connect from home or at the office improves productivity, agility and even team morale.

Employees no longer have to waste time scouring their inbox, CRM, or other repositories to find the data they need. They can access documents through the intelligent search functions of the Intelligent Tools system, or through simple, shared links. Additionally, collaboration tools like co-authoring, version tracking, and shared edit make it easier for them to work with their team and clients.

Finally, the automation of workflows ensures that business processes run smoothly, while reducing frustration and wasted time.

For their part, project managers will be able to consult more easily the progress of the work, the contributions of each employee, and the tasks to be completed.

Operate your transformation with intelligent information management

The time has come for all companies to carry out their digital transformation to improve their competitiveness and profitability. It is now possible, with intelligent information management solutions, to do this without planning a time-consuming and expensive migration process before you can use it.

Sources

https://medium.com/steveglaveski/the-professional-services-firm-of-the-future-6ea51a5128d5