Energy & Utility Management

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Category customer experience

The Key to a Successful Digital Transformation in the Work From Home Era

Regardless of the type of business, you’re talking about, organizations invest in digital transformation for a myriad of different reasons.

Some turn to the power of modern technology to improve efficiency – empowering employees to communicate from department to department easier than ever before. Others want to guarantee that data can flow freely across the enterprise, making sure that the critical information that people need to do their jobs is always in the right hands. Others still do it for cost savings. Not only can a digital transformation save a tremendous amount of money upfront, but it’s an investment that will also continue to pay dividends for years to come.

All of these benefits have always been important – but they’re especially so given everything going on in the world right now with the COVID-19 pandemic.

In March of 2020, as the pandemic first began to make its way across the world, millions of employees suddenly found themselves working from home indefinitely. As a result, many organizations suddenly realized that they lacked the infrastructure needed to support this revolution. In addition to not having access to the tools people needed to work as productively as possible, they found themselves in dire need of solutions that would allow them to share critical information as securely as possible. This is especially true in an industry like accounting and financial services, where firms are dealing with data that is decidedly more sensitive than most.

Even though vaccines are rolling out across the world, the number of remote workers isn’t exactly dropping. One recent study revealed that in August of 2021, about 13% of people were still working remotely full-time due to concerns about the pandemic and the newly emerged Delta variant, among others.

Indeed, working from home is a trend that shows absolutely no signs of slowing down anytime soon – which means that organizations who were preparing for digital transformations prior to the pandemic need to seriously rethink their approach. The world has changed in a dramatic way and there’s no putting that particular genie back in the bottle. This is only a negative thing if you allow it to be. If you approach your digital transformation from the right perspective, you stand to gain enormously in a wide range of different ways, all of which are worth a closer look.

The Shifting Landscape of Post-Pandemic Life

Not too long ago, the team at M-Files partnered with Accountancy Age on a report that detailed what digital transformation – and business in general – has been like before, during, and (hopefully) after the pandemic. It featured survey respondents from a mix of organization sizes, ranging from those with 51 employees all the way up to those with 1,000 or more.

Overwhelmingly, the report revealed that accountancy firms in particular were simply not ready for the transition to fully remote work when lockdown restrictions were originally imposed. A massive 76.6% of respondents said that they initially battled significant challenges in terms of enabling staff to work productively from home – not to mention the difficulty they experienced in servicing clients as effectively as possible.

So much of this has to do with the fact that the accounting industry has long adopted a myriad of different applications and solutions to share, manage and store sensitive business data. This includes but is not limited to chat and video conferencing tools, enterprise content management systems, and more.

The issue here is that this almost immediately runs the risk of creating data silos that firms simply cannot afford to have existed. Again, information needs to be able to flow freely from one segment of the business to the next – regardless of where those employees happen to be. This is true not only in terms of allowing people to effectively collaborate with one another but with regard to empowering workflows as well. If critical data is trapped in a single repository and the person who needs it to do their job doesn’t have access to it – or worse, isn’t sure it exists at all – this only runs contrary to a firm’s goals.

Initially, in an effort to combat some of these risks, many accountancy firms took to sharing information with clients by sending physical copies in the mail. This was true of 44.4% of respondents. Another 79.4% of respondents said that they shared the same information via email. Not only do these methods pose a significant security risk, but they also affect traceability as well – leading to a poor client experience when the opposite should be your primary objective.

The Future of the Workforce Has Arrived

All of these things underline the importance of digital transformation in the modern era – particularly during a time when the “new normal” that we’re all about to return to will likely have little resemblance to the one we left behind.

Case in point: data security. As stated, accountancy firms in particular lacked the infrastructure needed to truly support remote workers in the most secure way possible. In addition to email folders, respondents to the aforementioned survey said that they used files and folders across shared network drives, solutions like Microsoft SharePoint, CRM and ERP systems, dedicated accounting solutions, file sharing applications like Google Drive, and more to manage and share business and client documents within the firm itself.

The right approach to digital transformation is an opportunity to consolidate all of this down into one simple, easy-to-use system that is built with modern workflows in mind. M-Files, for example, is a document management system that allows information to be accessed based on not where a file is stored, but on what is contained within it. All data is stored via a system that can be accessed anywhere, at any time, on any device. More than that, permissions can be set to make sure that only the people who need a particular file to do their jobs have access to it – thus preventing that information from falling into the wrong hands.

Likewise, a digital transformation can be a great opportunity to create branded, customizable client portals that themselves can help accountancy firms better collaborate with clients. Not only does this guarantee the security and privacy of client documents, but it also improves the digital client experience as well.

In the end, a digital transformation is a massive undertaking, yes – but for most accountancy firms, the pandemic has proven that it’s an investment that is well worth making. “Change” and “disruption” are only negative words if you allow them to be. With the right perspective, you can see them for what they really are – opportunities just waiting to be taken advantage of to propel the next decade of your firm’s success and beyond.

Source: https://resources.m-files.com/blog/the-key-to-a-successful-digital-transformation-in-the-work-from-home-era

What You Need to Know About Telling Stories with Your Data

One of the most important things to understand about the data that your business is creating is that you’re talking about so much more than just a collection of files sitting on a hard drive somewhere. Contained within that data is the context and insight you need to not only understand how far your organization has come, but also to better predict where it might be headed. It holds the key to better understanding your target audience, all so that you can serve them in a far more effective way than ever. It has what you need to understand everything you’ve already worked so hard to build on a fundamental level, thus allowing you to reinforce and strengthen your position moving forward. In other words, hidden inside that data is a story — and it’s one that absolutely needs to be told. Data storytelling itself can take many forms — from simple visualizations to complicated investigative pieces and everything in between. But regardless of the exact shape data storytelling takes, the end result is clear — it’s an opportunity to better inform and persuade audiences on just about any topic that you can think of. Using data to tell stories is one of the best chances you have to engage with key audiences like never before. Thankfully, getting to this point isn’t nearly as difficult as one might think. You just need to keep a few key things in mind along the way.

The Art of Data Storytelling: Breaking Things Down

One of the major reasons why data storytelling is so effective ultimately comes down to the power of stories themselves. Not only are stories inherently memorable, but they’re also essential to help us process the world around us. Stories help people detect patterns, understand context, and derive meaning from experiences in a way that they may not otherwise be able to. They help us focus on key information and remember it for far longer than we otherwise would. But within the context of your business, it’s important to understand that the types of data professionals you’re likely working with don’t necessarily get training related to storytelling. They understand how to help you work with your data, but they lack the skills needed to do so more effectively than ever. Therefore, building up your data storytelling skills and empowering those professionals becomes one of the best chances you have to do all of this and more.

Putting Data Storytelling to Work for You

In an effort to empower your own data storytelling efforts, you need to first understand more about the core elements of data stories. The first, obviously, is the data itself. This means that as your storytelling efforts begin, you need to think about what data you should include for the best results. This means having not only an understanding of your data but also the context of that information, the quality and even the metadata. Familiarizing yourself with the core fundamentals of this data will give you everything you need to build a better story from here. Speaking of the story, the next most important element that you’ll want to focus on is the narrative itself. What, exactly, are you trying to say with your data? What is your data trying to say to you? Whether you’re attempting to summarize data, make comparisons between two or more ideas, or even highlight outliers, it doesn’t actually matter — you need to understand the goal of your data story before you can begin to tell it in the most effective way. Start with the main idea that you’re trying to get across and then work your way back to the data, choosing those sources that support the narrative as it unfolds. Finally, you have the technique of data visualization — something that can help tell your story in a natural and organic way. Human beings are visual learners — they always have been, and they always will be. When information is presented to us visually, we don’t just understand it better — we also remember it for far longer, too. That’s why data visualization is another crucial element of your data storytelling efforts. By showing, not telling, you make it easier to get your point across in a way that resonates with your audience. But in the end, you can’t forget to focus on the most important element of all: your audience. By taking the time at the beginning of this process to define who your audience actually is, you put yourself in the best position to get the right story in front of them at exactly the right time. source: https://resources.m-files.com/blog/what-you-need-to-know-about-telling-stories-with-your-data

Productive Processes and Profit Begins at Home!

In this age of 24/7 Client focus, it is easy for Practice Management to lose sight of the fundamentally important job of looking for internal systematic operating process bottlenecks.

In many cases hidden away in the business, there are functions that remain supported primarily by a mixture of seemingly permanent ‘temporary Shadow Systems” such as spreadsheets and shared drives, all supported by manually driven processes.

Quite often, due to budget prioritization, resource focus or simply not allocating “your own business review time”, opportunities to introduce robust, low-risk digital solutions to help improve productivity and bottom-line profitability are missed.

Typical questions that need to be asked include:

  • Can we ensure our compliance and governance processes are adhered to?
  • Are our data sources secure and controlled?
  • Are we maximizing the value of our data?
  • Do our processes work seamlessly across the Practice and externally to our Clients?
  • Can we guarantee that the GDPR request can be answered?
  • Am I sure that my KPI’s are based upon fact?
  • How can we work smarter?

Many organizations do not have an accurate accounting of their own IT estate. How many and what types of servers? How many and what types of applications? How well utilized is the IT estate? Are there redundancies in application licenses and maintenance? How much of the estate is at the end of service life (EOSL)? Can the estate be consolidated based on newer infrastructure?

Regular analysis of the costs and performance of your legacy applications identifies the gaps, performance degradation, outages, and service interruptions that inevitably arise.  The resulting analytics highlight areas that need to be modernized to improve the performance, availability, and support of your systems.

Importantly, the benefits of process optimization have a wider reach than just the business processes. The operational knowledge and experience needed to manage and oversee people-dependent processes tend to be concentrated in the heads of a few key individuals. This results in greater risk to the business.

Ironically, fewer people with complete knowledge of key processes, also complicate succession planning, making transitions prone to disruptions, relationships with partners strained, and general discontent within the organization.

Ultimately, a more structured, stress-free working environment that enables your teams to function effectively, enhances well-being, and can contribute to staff retention, will enhance productivity, increase customer satisfaction and contribute to greater profitability.

Source: https://resources.m-files.com/blog/productive-processes-and-profit-begins-at-home

Our Take: Gartner Peer Insights and Our Amazing Customers

At M-Files, our goal is to provide knowledge workers with the connected content and intelligent automation they need to empower a smarter way to work. However, we wouldn’t be who we are today without our amazing customers. Our customers are our guiding “why” — and as of today*, we are proud to share that because of them, we have achieved a 4.4 out of 5-star rating in the Content Services category on  Gartner Peer Insights[1], which documents customer experience through verified ratings and peer reviews from enterprise IT professionals.
The satisfaction of our customers has, and always will be, our number one priority. We’re humbled that as of August 1, 2021, 88% of Gartner Peer Insights respondents would recommend M-Files as a Content Services Platform, based on 78 reviews over the past twelve months. We believe achieving such a reputable Gartner Peer Insights rating showcases our on-going commitment to providing customers with new, innovative ways to manage, secure and collaborate around content.
The reviews speak for themselves, and we couldn’t be more humbled our customers think so highly of us:
  • “It is a mastermind software to have when it comes to managing data. I have used M-Files for a long time and I am completely satisfied with the breadth of functionalities it offers.” – Consultant, Services [read full review]
  • “One of the best document management system available in market. Easy to store and manage large files in this application. Collaboration made easy with this application.” – Senior Analyst, Services [read full review]
  • “M-Files is one of the best content management software which lets users to create, manage and store the data. The product is very easy to use and implement.” – Analyst, Services [read full review]
  • “M-Files is a document management software where users can firstly and quickly manage and organize electronic documents. The user interface is very good and the user can perform the multi-task at one time directly from the central dashboard.” – Software Engineer, Services [read full review]
We strive to provide a modern approach to information management that increases the productivity of knowledge workers, ensures a seamless digital experience, strengthens collaboration, enables business continuity, and reduces business risk. Over this past year, it has been our greatest pleasure helping organizations navigate, control, and manage overwhelming amounts of data brought on by digital transformation and the pandemic. We are humbled our customers see the value in our metadata-driven approach and look forward to helping our customers continue to see greater productivity and ROIs across their organizations. *August 1, 2021, based on 78 reviews [1]  Gartner Peer Insights reviews constitute the subjective opinions of individual end users based on their own experiences and do not represent the views of Gartner or its affiliates. Source: https://resources.m-files.com/blog/our-take-gartner-peer-insights-and-our-amazing-customers

M-Files and Hubshare: Delivering a Best-in-Class Digital Client Experience

A key component of most successful organizations is truly seamless collaboration. Oftentimes, there is a tendency to think about collaboration with an internal focus – is everyone at my company able to collaborate? While that is certainly an important part of the equation, of equal or greater importance is the ability for companies to effectively collaborate with their customers and clients. Within the bounds of a single organization, it is possible to deploy a standard set of tools and processes that help aid in fostering a collaborative environment that is efficient, secure, and controlled. Outside those “walls”? Well, that’s another story. A confusing mix of email attachments, various file sync and share solutions, SharePoint repositories, and collaboration apps like Teams and Slack can create more complications than valuable connections. Relying on a hodgepodge mix of point solutions to share files, manage electronic signatures, or review project documents limit productivity and can increase business risk. Things can be simpler, intuitive, and more secure. M-Files’ mission is to profoundly improve how companies do business in the digital, work-from-anywhere world. We feel like we’ve made great strides to meet that mission head-on and integrating Hubshare into our product portfolio is a key component of fully realizing our mission. Getting the right documents and information to the right people, when they need it, no matter where they are. With Hubshare, we are expanding that reach to include external parties and clients. Hubshare offers a secure digital workplace portal that enhances user and client engagement through collaborative working, secure file sharing, and project management. Businesses can quickly and easily customize each portal to their client or project needs and provide users and external parties access to documents, processes, people, discussions, and more. The environment for Professional Services and client-facing companies is fraught with challenges. Meeting and exceeding client expectations in an ever-evolving business landscape while ensuring workforce productivity is no small feat. Over the last year, we’ve all learned how important is to remain flexible and agile. The good news is that there are powerful solutions that can help your organization and your clients’ businesses thrive, no matter what lies ahead. Contact us to learn more about how M-Files and Hubshare can strengthen your external content sharing capabilities and help you deliver best-in-class digital client experiences. Source: https://resources.m-files.com/blog/m-files-and-hubshare-delivering-a-best-in-class-digital-client-experience

M-Files Acquires Hubshare to Strengthen External Content Sharing and Collaboration, Deliver Best-in-Class Digital Client Experiences

M-Files, the intelligent information management company, today announced the acquisition of Hubshare to bolster external content sharing and collaboration and deliver an improved digital client experience. Hubshare offers a secure digital workplace portal that enhances user and client engagement through collaborative working, secure file sharing, and project management.

Now part of the M-Files product portfolio, Hubshare provides a secure information exchange platform where companies can be forerunners in driving digitalization and improving the customer experience using branded, customizable client portals. The portals can be quickly and easily tailored to meet individual client needs which drive collaboration and productivity.

“The Hubshare acquisition helps us deliver a unique digital client experience and better serve knowledge worker industries such as Professional Services, where information sharing and external collaboration are critical requirements,” said Antti Nivala, founder, and CEO at M‑Files. “Our integrated offering takes M‑Files from the back office to the frontline of our customer’s business, helping provide a digital window for our customer’s clients as they drive digitization across the organizations they serve.”

Unlike typical file sync-based document portal solutions where information is copied from an enterprise content repository, M-Files now offers a secure and integrated solution for internal and external collaboration without data duplication. While the M-Files user experience is optimized for streamlining internal document management processes, the new Hubshare hub in M-Files provides key information such as documents, people, processes, discussions, and more to external users, such as clients, via a branded portal that is optimized for an improved external user experience. This helps strengthen customer satisfaction with a better and more compliant collaboration experience.

“Today, with the announcement of our acquisition, we celebrate our common vision and goal of making work smarter and collaboration more efficient for our clients,” said Nicholas Child, CEO, Hubshare. “Our combined offering will undoubtedly benefit organizations across the globe seeking a more secure and integrated solution for internal and external collaboration. We are delighted to be an integral part of the M-Files journey, delivering our digital client experience and collaborative workspace solution alongside the visionary M-Files intelligent information management platform.”

M-Files’ mission is to profoundly improve how companies do business in the digital, work-from-anywhere world. M-Files connects siloed systems, applications, and repositories and provides a full view of all relevant information across an organization. Delivering connected content and intelligent automation, M-Files increases the productivity of knowledge workers, ensures a seamless digital experience, enables business continuity, and reduces business risk.

About M-Files Corporation

M-Files’ AI-powered intelligent information management solution connects all documents and information, across every platform and repository, then analyzes them to place them in context. This makes it possible to serve up the right information to the right people right when they need it—and automate information-driven business processes—while maintaining complete control and compliance. Thousands of organizations in more than 100 countries (including NBC Universal, OMV, SAS Institute, and ThyssenKrupp) use M-Files to manage their business information and processes—and give their employees A Smarter Way to Work. For more information, visit http://www.m-files.com.

M-Files is a registered trademark of M-Files Corporation. All other registered trademarks belong to their respective owners.

About Hubshare

Hubshare enhances user and client engagement through collaborative working, secure file-sharing, and project management. The solution provides an all-in-one, flexible, and customizable digital workspace that allows unlimited customer-specific portals, each one unique to each customer’s requirements. Hubshare helps its worldwide users boost their productivity and facilitate external and internal collaboration. Hubshare has offices in France and distributors in the UK, Hong Kong, Australia, and North America, and resellers in numerous other countries.

source: https://resources.m-files.com/blog/m-files-acquires-hubshare-to-strengthen-external-content-sharing-and-collaboration-deliver-best-in-class-digital-client-experiences-2