Posted by Sarah Edmonds on 30. June 2016 09:41
The other half of marketing...
How much of the technology in your life fails to work when you need it to, or simply isn’t up to the job in question? How many times have you wandered up and down streets looking for a phone signal, or nearly thrown your laptop out of a window when software that’s supposed to make your life easier, leaves you with a headache?
Whilst all we want is the technology we have to work properly, the focus seems to be on bringing more and more new tech onto the market. Our needs are now anticipated before we know we even have them, yet looking for the right technology to meet our genuine needs can sometimes feel overwhelming. Is it the right solution to the problem in question? How reliable is it? Is it easy to use or am I going to need a degree in computing to figure it out? Yes, it looks great, but HOW MUCH?
And what exactly is it that stops us seeking out the right technology? Are we now so burnt by all the negative experiences that we’d rather put up with outdated and sometimes clumsy IT solutions, rather than seek out an alternative? At PleaseTech we’ve researched this topic a number of times, and as you’d expect, time and money come up time and time again as the key barriers.
Specifically looking at this from a business perspective, it’s the chicken and the egg, on the one hand poor processes cost organizations millions of dollars a year in lost productivity, whilst on the other you have employees struggling with poor software tools who don’t have the time to research an alternative. All too often, even if a solution is found, the cost is simply too high to get it past management. They eventually get fed up, quit and the business in question then has to spend thousands of dollars replacing skilled workers. In fact on average, a study from Oxford Economics found that the cost of replacing a member of staff is $44,798, as detailed in a survey conducted in 2015 by Osterman Research for PleaseTech.
And it’s not just the cost of recruitment that’s a problem. The Osterman research found that 77% of workers say their organizations report problems finding workers to recruit, and that IT plays an important role in their retention and motivation – for over half of respondents, it plays an important or even critical role.
Quite simply, better IT tools mean better results. Osterman found that for 85% of respondents, it resulted in increased productivity; for 64% the ability to make decisions more quickly; for 55% better results; for 53% a happier and more satisfactory working environment, and for almost one in five, they would be more likely to stay with an organization.
So what happens when you have that magic moment, you’re surfing the web or you're at a trade show when you come across a solution that could be the genuine answer to your problems? We already know that cost is an issue, so how do you build a business case?
Following on from our 2016 research with Osterman, we’ve been looking at exactly this issue. The research is nearly complete and we’ll be holding a series of webinars in the fall to look at the findings in detail.
Meanwhile, we’d love to hear about your experiences. How did you prove the business case, what clinched the deal? What were the key stumbling blocks you came up against? What’s life like now you’ve found a piece of software you don’t want to throw out of the window? Let us know...
Posted by David Cornwell on 15. June 2016 11:36
Founder/CEO of PleaseTech Ltd - collaborative document review and co-authoring for the enterprise.
I thought I would share an excerpt from an article I recently wrote for CIOReview, an enterprise technology magazine, where I consider the future of document creation.
As the CEO of a technology company I constantly consider the future. Naturally, a major consideration is whether a disruptive new technology is coming along which could make our products obsolete.
I believe that only the paranoid survive and I’m forever scanning the horizon for the missile which is aimed squarely at our technology - that of document review. What is this disruptive new technology (or, as Nicholas Taleb would put it, black swan event) which will hurt us?
Let me define ‘document review’ as the term means different things in different industries. For us, document review is the generic term for the process by which peers, specialists or other interested parties comment upon and suggest changes to the content of a document prior to its finalization, approval and dissemination. Specifically, it is the review element of the document creation process.
Whatever the document, the basic creation process is the same: create; review; finalize; approve; and finally, disseminate. I simply don’t see this process changing in the foreseeable future. No black swans there.
PleaseTech operates in the B2B marketspace where disruptive new technology takes time to infiltrate.
One area of disruption which impacts us is the ongoing Office suite apps battle between Google and Microsoft. The Microsoft Office Suite has, for the last 20 years, been the dominant application for the creation of documents, spreadsheets and presentations in the business world. Our competitive advantage is based around our deep understanding of Microsoft Word and, to a lesser extent, the remainder of the Office Suite. So is the Office Suite under attack? The answer is: yes - of course. The real question is: how successfully?
A couple of years ago it seemed that Google was making decent inroads into Microsoft’s market share However, with the undoubted success of Office 365, Microsoft is fighting back with companies now switching from Google Apps to Office 365.
There is, of course, the whole cloud vs on premise debate. Whilst the cloud is a fine invention and our cloud business is growing rapidly, not everyone wants their valuable intellectual property in the cloud.
Is a company really prepared to entrust valuable documents to a generic cloud? Obviously not, so we see on premise being equally as important as cloud and, that of course, is where Microsoft wins again with its Office Suite. Its commercial competitors are all 100% cloud based.
What about the future of documents themselves? With individuals entering the workforce now being classified as ‘digital natives’, does the whole concept of a ‘document’ go away? Is this our black swan?
I’m of an age where I recall typing pools. Professional Engineers (as I was attempting to be as I entered the workforce back then) didn’t type their own documents. They were submitted to a typing pool, where they were created, printed and returned to you for review. A red pen was then used and the cycle continued. However, the introduction of PCs and word processors was a disruptive technology and the typing pool vanished. Yet, despite the disruption, the concept of paper document format lived on electronically with Adobe Acrobat. The delivery mechanism may have changed but the concept of a document is still very much alive.
Do digital natives think the same way? The research suggests not. They think in social media terms and moving them beyond this is one of the challenges educators are having to deal with. Can we see contracts being agreed in informal language? I think not. One of the first lessons in business is understanding that the way something is worded can form the basis of a legal contract or instruction. The language used is all important.
So it seems to be that the document creation process of create, review, finalize, approve, disseminate isn’t going to change anytime soon – certainly not in my business career and probably not in my children’s business career.
It’s hard to see something replacing Word even with initiatives such as the Open Document Format (ODF) supported by the UK Government. However the whole point of a Black Swan event is that it comes out of left field and is extremely difficult to predict. So who knows what the future holds?
If you believe that document creation is as important as I do, I suggest you contact us at PleaseTech to find out how we could help you better face what the future might throw at you.
Posted by David Cornwell on 28. April 2016 09:51
Founder/CEO of PleaseTech Ltd - collaborative document review and co-authoring for the enterprise.
I gave an ‘Introduction to PleaseTech’ presentation recently in which one of the key points was that PleaseReview is ‘industrial strength’. Hundreds of documents, thousands of comments and scores of reviewers are the norm, I explained. Conveniently, a set of statistics crossed my inbox last week to confirm this.
Statistics of three relatively large hosted customers were in the email. Two of these are in the life sciences market. Two of the customers are each creating over 1,300 reviews per year. The other is creating just under 1,000. Across all three, each review includes an average of 2 – 3 documents and generates an average of just over 50 comments. So that’s, on average, per company: > 3,000 documents per year and > 60,000 comment/changes per year.
Firstly, imagine trying to do that by email? Or, if you are using an annotation technology, imagine copying and pasting over 60,000 comments/changes per year? What a waste of time!
In my blog in October 2014 I discussed the fact that a client had taken the conservative estimate that PleaseReview provides a saving of 8 hours per document for each review cycle. So, if we do the maths, PleaseReview is saving these companies, conservatively, 24,000 hours per year. If we then allocate an hourly rate of $88 per hour, (that’s an average salary of $105K per year with a typical business overhead of 75% on top of salary) that’s a saving of $2.1 million per customer per year. A fairly impressive ROI – and remember all these figures are conservative!
I think the key point here is that we constantly need to remind ourselves that document review is a business critical problem. It’s also a non-trivial business critical problem.
Over the years there have been various attempts to solve it. The annotation of PDF documents (or other such generic formats) is one option but, remember, that means that someone has to copy and paste the 60,000 + comments/changes per year! Directly editing the documents (co-authoring) is another option but that opens the document to substantive change by just about anyone involved in the process. None of these solutions has the degree of granular ‘control over who can do what to where’ which PleaseReview offers.
Copying and pasting is one thing. Reporting is another. Many companies manually produce reports on what happened to the 60K+ comments and changes. PleaseReview does that automatically. It’s available in several formats and, when delivered in Excel, is designed for analysis. Indeed some companies consider metrics so important that a number of our larger customers have developed reports directly from the database using standard corporate reporting tools.
However, despite its unique functionality and positioning and its impressive ROI, no company is going to invest in a product which isn’t industrial strength and not able to scale to the customer's requirements. Being confident in the performance of the tools one has is, of course, vital. When that critical document deadline is approaching no-one wants to be nervous about systems failing.
Whilst industrial strength and great ROI are very important, we must also recognize that there is a major push from corporate IT departments to reduce the number of systems a user ‘touches’ in their standard day-to-day activity.
So seamless integration with 3rd party systems is another key to success. We have a whole team dedicated to developing and improving integrations with other enterprise systems.
So, with the increasing document workload, businesses want solutions which are industrial strength, have proven ROI and work with their enterprise applications. It’s a tough ask - that’s why there are so few solutions out there that can solve this business issue: if it were easy everyone would do it - it’s not easy and that's why we do!
Posted by Sarah Holden on 23. March 2016 09:44
Half of the PleaseTech marketing team.
Here at PleaseTech, partnerships with other players in the document collaboration space are very important.
An example in kind is a recent blog post published by OpenText, a global player in Enterprise Content Management. It introduces the launch of PleaseReview for OpenText Content Server, their content repository system. In their blog they explain “As organizations continue to churn out vast amounts of information on a daily basis, collaboration can become more and more challenging—with issues including the navigation of various document versions, widespread email chaos when dealing with multiple reviewers, and control issues due to the lack of complete audit trails. The end result is often missed deadlines, inferior document quality, compliance issues—and then ultimately, frustrated employees.”
The purpose of this post was to publicize a webinar that was shortly to take place: ‘PleaseTech PleaseReview for OpenText™ Content Server’.
A bit of history – whilst there has been an integration in place for over 8 years between PleaseReview and Content Server, last year OpenText recognized that effective document review was a growing issue for existing and prospective clients, especially with marketing hype surrounding Office365 and SharePoint. Recognizing that to stay a step ahead of their competitors in helping organizations collaborate more effectively in the document review process, OpenText extended the existing partnership by making PleaseTech a Technology Partner. As a result, PleaseReview can now be purchased directly from OpenText as an optional module for Content Server,
The webinar was held earlier this month introducing PleaseReview to OpenText’s audience, and was extremely well attended. This is just the first step and we will continue to support their sales force as they start to actively promote PleaseReview.
If you want to see how PleaseReview can improve productivity in your organization, you had better watch the webinar recording!
Posted by David Cornwell on 12. January 2016 16:26
Founder/CEO of PleaseTech Ltd - collaborative document review and co-authoring for the enterprise.
As is traditional, the first part of my January blog is somewhat repetitive as I say 'the previous year was yet another successful one for PleaseTech with revenue growth, new clients and some great new people having joined the team'!
2015 delivered revenue growth of 40% compared to 2014 with 50 new clients (itself a 35% YoY increase). Amongst this new business we count some major strategic wins with some very large organizations – never a bad thing! We also maintained a healthy growth in annual recurring revenue (ARR) of 27%. Alongside these strong results, the uptake of our cloud services has provided us with our highest percentage growth, reflecting industry trends.
Those of you who read my blogs regularly know that I am a fully paid up member of the ‘turnover is vanity, profit is sanity and cash is reality’ brigade. So I’m delighted to report that we remain profitable and continue to retain a healthy cash balance. Profit gives us the ability to invest in new people and to further grow the business - exactly what we plan to do this year.
Accounting for over 80% of 2015 sales, Life Sciences remains our largest market sector. Once again, North America is our largest market with over 75% of all sales – which is directly in line with the trend of the last five years.
We had a commensurate growth in staff numbers increasing headcount by 40% with new starters in both the UK and Malaysia. Suffice it to say, we no longer rattle around the new UK office which we moved to in late 2014.
The marketing department continued to work hard to spread the word. PleaseTech exhibited at a total of 23 shows/conferences in 2015, attended a couple as ‘delegate only’, fulfilled several speaking engagements and ran very successful ‘Word Masterclass’ webinars with the APMP and AMWA membership organizations. Additionally, we ran our first user group meeting for Life Sciences customers. We learnt a lot from this experience and are currently evaluating our future plans in this area. Watch this space!
In terms of product development, 2015 saw the introduction of a new agile development process which is designed to provide scalability as the company grows. The introduction of this process has not been without its trials. The amount of disruption and impact on productivity was unexpected, delaying the PleaseReview v6 release into this year.
However, we can’t blame the v6 delay entirely on the introduction of agile. I think everyone in the company underestimated how difficult it would be to rewrite the PleaseReview interface. There is a huge amount of functionality which has built up from its first introduction in 2004. Using it daily it's easy to forget how sophisticated it is! The good news is that v6 is coming along and a brief demo of the future was given at the user group meeting, which was very well received.
In other product news, we released a significantly enhanced integration with Veeva Vault on which we have had great feedback. We have also decided to temporarily (we hope) retire PleaseCompose (our structured authoring offering) to focus all our attention on PleaseReview. PleaseReview is where we make our money, is incredibly successful and, therefore, we feel it important to ‘put the wood behind the arrowhead’ or, as Peters and Waterman would have it, ‘stick to the knitting’.
However, to say that we are a single product company would be to miss the point. We have several integrations with ECM/eDMS platforms and each integration is a separate product with its own life cycle and which needs to be maintained and enhanced. Add into the mix support for various SAML2 providers and we have plenty plates to keep spinning.
During 2015 we continued to focus on working with partners and an agreement with Open Text saw ‘PleaseReview for Content Server’ added to the Open Text price list. Needless to say this is an exciting development for us and will hopefully give us access to organizations which would be/are difficult to approach directly.
Once again 2015 saw customer praise for our service and support. Nick and his team continue to enhance our reputation in this vital area. To quote one client: "Thanks to you and your team for the fantastic support that we have been getting". Whether Please Review is being rolled out to hundreds of users in a complex integrated enterprise environment (as it was in this case) or we are providing support to our standalone cloud users, we pride ourselves on exceeding expectations.
So, all in all a good year!
What can we expect in 2016? Well, from our perspective the answer is: more of the same. We will continue to work hard and deliver excellent customer service. We have a number of exciting prospective customers who we look forward to bringing on-board and are starting to explore APAC as a market territory.
We will release PleaseReview v6.0 which will be a substantial upgrading of PleaseReview’s user interface. The idea is to make the interface much more modern/consumer like so that anyone familiar with standard consumer technologies and web applications will feel immediately ‘at home’ when reviewing a document in PleaseReview. This approach will help further minimize training and will support enterprise-wide rollout and adoption for new and existing clients to increase their ROI.
Work on other integrations and partnerships is a constant theme as is expansion of the team.
So, we have a lot to do over the next 12 months if we want to replicate 2015. Best get to it.