PleaseTech blog

We aim to provide useful, pertinent and sometimes fun insights into the world of document collaboration and the workings of a technology company

Technology...that works and meets my needs...

Posted by Sarah Edmonds on 30. June 2016 09:41

The other half of marketing... Google


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  Are we now so burnt by all the negative experiences that we’d rather put up with outdated and sometimes clumsy IT solutions, rather than seek out an alternative?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...

 

Industrial strength and ROI are the key

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!

 

 

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