The Benefits of Centralizing Your Business with an ERP System

Posted on by Antony
BORN Views
The Benefits of Centralizing Your Business with an ERP System

In today’s digital world, no other decision is perhaps as all-encompassing and essential as choosing an effective Enterprise Resource Planning (ERP) system. One of the questions confronting executives is understanding and implementing the appropriate system to fit their current and future needs. Does a firm go with several individual applications for business analytics, Key Performance Indicator (KPI) tracking, project management, resource management, and other metrics? Or does an executive seek a range of features in a single ERP solution that addresses each of these needs together?

There are other concerns, such as company-level organizational goals, that executives and resource/project managers take into account when considering an ERP solution. These goals include gaining better visibility across the organization in order to achieve insight into the operations of disparate areas of the firm. Another key component that comes in making the decision of an ERP solution is the ability to streamline operations. Rather than hold on to difficult and convoluted processes, an executive will prioritize solutions that allow for better workflow and tighter integration. Upgrading legacy systems with a more current solution positions an organization for growth and overall company improvement.

Specific areas of growth include the ability to scale operations in an efficient manner. Executives want to see concrete productivity improvements along with increased profitability. Today, firms must adapt to many kinds of changes, especially those demanded by the industry. Firms require technological solutions that adapt to what Forbes had dubbed the fast-paced Agility Era—a phrase that refers to the industry’s preference for flexibility and streamlined production over stable and unshakable client relationships1. These are goals that an effective ERP solution will help bring to life. Such an ERP solution gains its effectiveness by integrating multiple interrelated parts into a single application, providing a centralized hub for all creative projects. There are several reasons that a single solution with multiple functionalities is preferable over using several separate applications. 

To begin, the need to switch between more than one application to perform a single task introduces the potential for human error, which increases as the task becomes more complicated. Along with that human error, such a human-led process introduces significant room for error that multiplies over time. Furthermore, using more than one application can have a significant decline in visibility into performance2. Many of the metrics available to an effective ERP solution will simply not be viewable through separate apps.

We’ve broken this article into two components that together provide a comprehensive guide to centralizing business operations leveraging a single ERP solution. In the first section, ‘Roles in an Integrated ERP Solution,’ we’ll look at the ability to switch between different user profiles in order to take advantage of the different ERP features such as the dashboard display and custom KPI metrics. Here we’ll explore some of the advantages of cloud-based systems such as the ability to log on via a web browser using any device from any location. We’ll also look briefly at analytics and time-based metric displays.

In the second section, ‘Integrated ERP Solutions and Resource/Project Management,’ we’ll outline how an ERP solution allows for effective resource allocation with team calendars and availability updated in real-time, along with automatic reminders and notifications once a team member is allocated to a project. We’ll also cover, in the cases where an internal resource is not available, the ability to consult outside talent through freelance resources—all through the same interface accessed through a consolidated ERP solution.

Roles and Metrics in an Integrated ERP Solution

The key to centralizing projects within a single ERP solution lies in the use of clearly defined and separated roles. Oracle’s NetSuite ERP solution, for instance, allows users that fit different profiles to log in accordingly. In one scenario, a user can log in as an executive and receive full access to KPIs, employee data, transaction logs, and other important and potentially sensitive data. In another case, one can log in as a project manager and be greeted by a different but related dashboard, replete with issue tracking, task management, budgetary numbers, and team member status. Still another profile, such as a resource manager, can be accessed with its own set of tools and settings. This profile might focus on resource allocation, timesheets, and financial data.

The paradigm outlined here is known as a role-based platform. The ERP defines exactly what one can see and do within the system and this role-based system is based on a set of defined permissions and access levels. As NetSuite describes it, “roles are based on a robust set of permissions and are the means by which we manage our segregation of duties.”3 These permissions are correlated to different respective user profiles that contain specific levels of access. While not every scenario is contained within the existing user profile sets, the profiles can be modified and tailored to suit the interests of any user. This role-based functionality is essential to centralizing your projects within a single ERP solution by enabling everyone on the team to have a one-stop portal.

Metrics, analytics, and KPIs are valuable as they provide useful insights, especially for executive users and managers. Using an executive role login, a user can select a KPI (or set of KPIs) to display as a graph over time. This will show fluctuations in performance during the selected time window. For instance, an executive may want to view a utilization summary—which shows hours tracked to billable services against project actuals4—over the course of a single quarter. Other KPIs may include timesheet summaries, jobs by company, and a full jobs summary, all data that benefit project managers and other users5.

Beyond the view of graph data displaying a longer period of time, a user can also drill down into specific numbers included in KPI and data views such as revenue reports. When viewing revenue from an income statement, for instance, an executive can choose between different time periods—monthly, quarterly, yearly, etc.—and compare the results. The same executive user can drill further down into the number to reveal details at the transaction level. From there, information pertaining to the client, along with associated brands (or other parent/child information), is available for the user to peruse. 

An effective ERP solution gains its traction by centralizing these kinds of metrics in one single location across multiple user profiles. Rather than requiring several different applications, all of the necessary information is displayed in one convenient location. KPIs, metrics, and analytics provide invaluable visibility across the performance of a business, all viewable from a single dashboard. This strength is extended further through the advantage of multiple user profiles wherein views are customized and duties are segregated and related to user permissions.

Integrated ERP Solutions and Resource/Project Management

Another challenge for today’s businesses is the ability for resource and project managers to have clear visibility into the availability of those in their resource pools. Determining availability and forecasting for new hires and freelancers can be difficult, especially when relevant data is inaccurate or not up-to-date. With such unreliable information, resources can easily become double-booked and can often fail to keep track of regular assignments6. Attempting to cobble together this data from multiple sources may only add further confusion to an already challenging situation. This is why a single integrated ERP solution for resource and project management is imperative.

Using an integrated ERP solution for resource allocation allows a resource/project manager full visibility into the calendars and availability across the entire resource pool. The resource manager user profile, for instance, contains a home dashboard with metrics and query results that provide insight into the status of the team’s various projects7. Resource managers need to be kept up to date on this information through reminders, report links, and portlets that relate to hourly burn reports and overdue task and milestone indicators. Only a comprehensive and cross-functional ERP solution will allow such visibility for resource managers while displaying imperative data for other user profiles as well.

An effective ERP solution such as Oracle NetSuite will provide a resource manager a full view of each project which they are currently assigned. Such a view provides a full work breakdown structure with a display of tasks that remain to be completed, the resources required to complete them, how much work has already been executed, and the amount the agency expects to collect when complete8. The view will also display scheduling requirements along with standard billing rates for each resource9. From there, each task can be assigned to a specific resource such as a designer. The replacement will then appear throughout the project displays.

Another important tool included in an effective ERP system is a calendar that shows individual resources and their respective utilization. What is the current utilization of team members throughout your resource pool? Who, among your designers, is available for a two-week period starting one month from today? A resource allocation chart tool allows a resource manager detailed insight into these variables. It allows a resource manager the ability to assign resources without overworking team members, causing burnout, or neglecting important talent. Upon selecting a team member, with an integrated ERP solution, the calendar of that resource will be updated automatically.

Conclusion

Executives and project managers face important decisions on a daily basis. Choosing the right ERP solution is one of those decisions that has a deep and lasting impact on a firm’s success. A number of concerns figure into this decision. At the top of this list of concerns should be the centralization of functionality into a single solution. 

Does the ERP solution require numerous third-party applications to work? Or does it truly scale with your business as you grow? Does it work to streamline your business’s mission-critical processes10? Does the solution provide better visibility across the organization overall in order to achieve insight into the operations of disparate areas of the firm?

We’ve seen here how multiple user profiles—from executive to project manager to resource manager—allows multi-functional ERP within a single elegant solution. We’ve also explored how KPIs, metrics, and analytics can be used to monitor performance to ensure the health and viability of an organization. Then we turned to resource management and saw how an integrated ERP solution can keep resources organized and ultimately help to streamline operations. 

Centralizing all of this functionality into one single location is critical for an effective ERP solution. As opposed to launching multiple applications and using up valuable resources on human error and mistakes, a single elegant ERP solution saves both time and money. By using a flexible dashboard that adapts to different profiles, users can see what’s genuinely important to them on a project. When one considers these benefits, a multi-use ERP solution will greatly benefit companies in both the short and long run. 

For more information surrounding BORN Group’s ERP practice, please visit here.

__________

Footnotes

1. https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/onmarketing/2014/08/27/how-a-creative-cfo-will-save-advertising/&refURL=&referrer=#2607740412ea

2. https://view.pointdrive.linkedin.com/presentations/5e7289ae-cbb3-4f8c-9581-1c7af9e58433/preview/34cf1b5b-c90d-4c76-8f7e-8a0ecaacf931?auth=48e9df2d-f52b-4b02-af8c-93c80239e39f

3. https://view.pointdrive.linkedin.com/presentations/5e7289ae-cbb3-4f8c-9581-1c7af9e58433/preview/34cf1b5b-c90d-4c76-8f7e-8a0ecaacf931?auth=48e9df2d-f52b-4b02-af8c-93c80239e39f

4. https://functionpoint.com/4-important-kpis-to-measure-in-your-ad-agency/

5. https://functionpoint.com/4-important-kpis-to-measure-in-your-ad-agency/

6. https://view.pointdrive.linkedin.com/presentations/5e7289ae-cbb3-4f8c-9581-1c7af9e58433/preview/c57918a7-ae28-47f7-87a1-dd19c39db461?auth=48e9df2d-f52b-4b02-af8c-93c80239e39f

7. https://view.pointdrive.linkedin.com/presentations/5e7289ae-cbb3-4f8c-9581-1c7af9e58433/preview/c57918a7-ae28-47f7-87a1-dd19c39db461?auth=48e9df2d-f52b-4b02-af8c-93c80239e39f

8. https://view.pointdrive.linkedin.com/presentations/5e7289ae-cbb3-4f8c-9581-1c7af9e58433/preview/c57918a7-ae28-47f7-87a1-dd19c39db461?auth=48e9df2d-f52b-4b02-af8c-93c80239e39f

9. https://view.pointdrive.linkedin.com/presentations/5e7289ae-cbb3-4f8c-9581-1c7af9e58433/preview/c57918a7-ae28-47f7-87a1-dd19c39db461?auth=48e9df2d-f52b-4b02-af8c-93c80239e39f

10. http://www.netsuite.com/portal/products/erp.shtml

Best Practices: 11 Trends in ERP Systems

Posted on by Antony
BORN Views
Best Practices: 11 Trends in ERP Implementation

Enterprise Resource Planning (ERP) software has undergone significant changes since its earliest incarnations. ERP has historically consisted of monolithic standalone systems dedicated to specific business processes found, for instance, in early Manufacturing Resource Management (MRM) systems1. These implementations were limited in scope and restricted to local instances, unlike the distributed systems in use more recently. 

Current ERP solutions are more flexible and configurable than ever, with many ERP vendors moving to cloud-based solutions. These systems can be upgraded and configured on the fly with little to no need for on-site support. Alongside this shift toward reconfigurability and flexibility afforded by cloud solutions, we’ve also seen a broader movement to integrate a range of innovative contemporary technological paradigms. For instance, with the use of the cloud, many vendors have begun to conceive of ERP as a SaaS rather than a traditional licensing model. Other offerings include increased integration of data and analytics, which can help improve productivity, more tiered ERP services, security features, support for mobile devices, the Internet of Things, and the use of Artificial Intelligence.

Overall, many of these trends can be attributed to a significant change in the landscape of the ERP vendor industry. Here we outline 11 top trends in ERP systems today, especially as they apply to digital agencies.

Trends in ERP Systems #1: Cloud-based ERP 

Cloud-based ERP solutions are becoming increasingly popular due to their flexibility, scalability, and cost-effectiveness. Traditional ERP systems require businesses to make a significant upfront investment in hardware and software, which can be a major barrier to entry. Businesses pay a subscription fee based on usage, making it a more affordable option for businesses of all sizes. Additionally, cloud ERP offers greater flexibility, allowing businesses to scale their operations up or down as needed.

Note that the shift to cloud-based ERP solutions didn’t fall out of the sky. The trend has been emerging since the mid-1990s wherein, rather than concentrating on enhancing core functionality, ERP companies are moving toward reconfiguring their systems for cloud compatibility. As Frank Scavo, president of management consulting firm Strativa, explains, “Many companies are finding it easier to add in cloud-based point solutions for things like human capital management, CRM (customer relationship management), expense management, and other functions.”2 With the cloud, such improvements can be thrown in ad-hoc with minimal to no downtime.

Trends in ERP Systems #2: Mobile Apps & Remote Work

Mobile ERP apps are becoming more popular as remote work becomes the norm. These apps provide employees with access to critical business data and functions from their mobile devices, making it easier for them to stay connected and productive.

Mobile ERP apps allow employees to access the system from anywhere at any time. This is especially important for businesses with remote workers or employees who travel frequently. Mobile apps also allow employees to collaborate more easily, regardless of their physical location.

Trends in ERP Systems #3: SaaS systems

As part and parcel of the move to the cloud, many ERP solutions have begun to operate through a software subscription model or as a Software as a Service, or SaaS. This adds an important layer of convenience and flexibility for digital agencies over a traditional software licensing model. With ERP delivered as SaaS, many of the time-consuming software pitfalls, like site-wide upgrades, security issues, and costly user provisioning, are reduced or eliminated altogether. As PCMag explains, “Traditional ERP applications are stored on your servers, which means you’re responsible for upfront hardware costs, long-term hardware maintenance and expansion, and data backup and recovery. SaaS-based apps are stored on cloud-based servers, which are much less expensive, much quicker to update and scale, and don’t take up any valuable office space”3. By using a multi-tenant SaaS model, your ERP is fully scalable and grows as your agency increases in size, impact, and productivity.

Trends in ERP Systems #4: Data Utilization

The move to the cloud has also allowed the broad-level use of data to improve ERP functionality. Imagine a customer relationship management software that is capable of building sophisticated models of your highest-performing customer demographics and then integrating this information across your agency’s business operations. Or perhaps you’d like to base a proposed HR investment in business development on analytics that relate BD employee performance with overall profit figures. These are only a few of the applications that become possible with a robust ERP solution that integrates powerful data sources for a competitive advantage. Such possibilities based on the integration of data in ERP solutions will only continue to expand. The best advice for marketing and ad agencies: start utilizing data in your ERP solution today.

Trends in ERP Systems #5: More tiered services

As digital agencies grow, some will adopt multi-tiered business structures. If your agency does not already have an HQ and subsidiaries, the prospect may be around the corner, or it may remain for some time a distant goal. Traditionally, ERPs have not addressed these tiered structures directly; ERP functionality was generally the same regardless of which business hierarchy was using it. Over the years, many have asked how an effective ERP solution could better support such a tiered business structure. Thankfully, ERP systems have begun to fully support such tiered structures, for instance, by offering specific services to the top-tier headquarters and others designated for the operation of subsidiaries4. Regardless of the size of your agency, you’ll want to seriously consider the benefits of future-proofing your operation by choosing an ERP solution that supports tiered services.

Trends in ERP Systems #6: Security

The need for intelligent and reliable security has grown exponentially alongside the increased dependency on cloud-based connected ERP solutions. Importantly, the shift toward cloud-based ERP solutions has occurred alongside a sharp increase in security threats across the board, creating a potentially alarming demand for security as an integral component of an effective ERP solution. Cyber attacks, in general, can cause immense irreparable damage. Estimates have put the total global cost of cybercrime at over $8 trillion in 20235. A trend that will be increasingly important for agencies is the prevention of such cyber attacks, especially where an ERP system is involved.

Trends in ERP Systems #7: Artificial Intelligence (AI) & Customer Experience

AI has been a driving force in the rapid transformation of technologies across industries, and the ERP landscape is not exempt from these changes. Broadly speaking, AI is a field of computer science that is concerned with the modeling of human cognitive processes for use in any and all computational applications. The implications for ERP systems are innumerable in that virtually every ERP component can utilize AI for performance enhancements and improvements in integration and productivity.

Take, for instance, the use of AI for improving customer relationship management. A noteworthy CIO article states, “An AI-enabled ERP solution for customer service integrates the customer interaction with the work order management process. The AI solution understands and learns from historical inspection reports and work orders.” The article explains further, “Depending on the nature of the customer inquiry, it gives a proposed answer to the service agent. The AI solution assists with the planning and scheduling of the work by finding the earliest possible date to dispatch a service technician,” which is possible because the AI agent knows the required skill set and availability of the required parts.

Trends in ERP Systems #8: Internet of Things (IoT) 

IoT refers to the proliferation of devices, products, and objects that are connected to the Internet. What this means for ERP systems is that your entire infrastructure—including hardware, physical systems, and even employees—can be monitored and tracked. The data produced through this process can then be integrated into the functionality of the ERP system. Want to track how often a workspace is used in your ad agency to help determine future infrastructure plans? A room equipped with sensors and biometric tracking can provide real-time analytics to help with critical resource allocation decisions. Such a scenario represents only the beginning of the possibilities that will arise with IoT.

Trends in ERP Systems #9: Startups

As noted above, many recent and forthcoming innovations on the ERP landscape’s horizon can be attributed to the dynamism introduced by the increased presence of startups. For instance, the push toward cloud-based solutions has come to a large extent from smaller ERP startups whose cloud-based features have, in turn, influenced larger vendors to follow suit. This is an example of the phenomenon that occurs when a smaller company is able to use its flexibility to its advantage by fulfilling a unique position in the marketplace. Such a situation is doubtless a boon to marketing and ad agencies, who continue to benefit from the rapid innovation we regularly see from startup disruptors.

Trends in ERP Systems #10: Content Management

ERP systems are increasingly being used for content management. By integrating with content management systems (CMS), businesses can manage all their content in a single system. This can improve efficiency and reduce the need for multiple systems.

Content management features include asset management for documents and digital assets and web content management. These features allow businesses to manage all their content in a single system, reducing the time and resources required to manage multiple systems. 

Trends in ERP Systems #11: Empowered Users

Enhanced ERP features related to cloud-based services, SaaS systems, data integration, tiered services, security, AI, mobile devices, and IoT all mean ERP users are more empowered than ever to choose an ERP solution. With the introduction of new startups to an ERP landscape formerly dominated purely by large-scale vendors, the result is a more rapid turnover of new features and competitive functionality.

An equally valuable shift is the decrease in cost for ERP customers. As Amit Patel, managing director in the enterprise solutions business at Huron, has explained, “ERP vendors are being very aggressive in protecting their core offering and, as a result, pricing models are being updated to ensure they remain competitive6. This means customers now get the best and most comprehensive ERP features at highly competitive prices.

For more information on BORN Group’s service offerings across ERP, please visit here.

[1] http://whatis.techtarget.com/definition/Manufacturing-resource-planning-MRP-II

[2] http://searcherp.techtarget.com/feature/The-top-seven-ERP-trends-for-2017-and-beyond

[3] https://www.pcmag.com/article/351807/5-enterprise-resource-planning-erp-trends-to-know-in-2017

[4] http://searcherp.techtarget.com/feature/The-top-seven-ERP-trends-for-2017-and-beyond

[5] https://securityintelligence.com/articles/7-reasons-global-attacks-will-soar-2023/

[6] http://searcherp.techtarget.com/feature/The-top-seven-ERP-trends-for-2017-and-beyond

How Structured Archiving Delivers an Enterprise Advantage

Posted on by Antony
BORN Views
How Structured Archiving Delivers an Enterprise Advantage

Imagine a typical business success story: a mid-sized company built from the ground up starts by making an impressive mark on the industry. Over the years, the business improves operations while profits steadily increase. With only a few and relatively minor setbacks, the company flourishes, and business continues to grow. Concurrent with this growth are some important correlated changes. Specifically, in order to account for an expanding roster of clients, more and more database storage is required. And, in an effort to stay current technologically, new enterprise applications are brought on board while others are retired. Finally, discussions of compliance and compatibility with these new information technology components become an important part of infrastructure and development.

Everyone celebrates growth. Businesses need it. And, overall, commerce relies upon it. After all, growth is perhaps the primary goal of any business. What organization wouldn’t welcome an offer of expanded operations, broader market influence, and substantial increases among its market base? With such growth, though, businesses also see a requisite amount of change. Not only the faces of new clients and geographical environments, but shifts in technological platforms and IT infrastructure are expected parts of the success story of every business.

All firms are in the process of constantly acquiring new clients and business partners. And along with this regular accumulation of data, the question arises: where to put it for long-term storage? What happens to important archival documents when a company needs to significantly upgrade their IT infrastructure? One cannot simply discard such data—even from clients the company no longer works with. What happens, for instance, when such information is needed for litigation or an audit?

This is where structured archiving comes in. Structured archiving refers to the ability to store and catalog application data in secondary databases or standalone files for long-term retention, often by using less costly storage [1]. Such enterprise-level archival processes have a number of specific applications and related benefits that this blog post will explore in-depth. Taken together, these applications account for some of the various reasons for the increased import structured archiving has had for businesses across the board via management of data growth, application decommissioning, and compliance with enterprise IT infrastructure and legal.

Data Growth Management

Increases in data are a common part of the development of every business. Sales data, customer records, employee and HR information, client contracts, patents, project data, data from Enterprise Resource Planning (ERP) systems, and analytics are just a few of the many points of information that are crucial to businesses today. As the sheer volume of data increases, some have suggested an updated framework for conceiving of the element that many consider to be the bedrock of modern commerce.

This framework is known, of course, as big data. Big data refers to extremely large sets of data that can be used to provide predictive behavioral analysis and other kinds of analytics and metrics. The regular use of such large volumes of data has become increasingly important to businesses. Big data can improve internal communications, customer relations and experiences while providing better overall market intelligence[2]. And the reliance upon big data will only increase. As Forbes recently noted, “It doesn’t matter what field you operate in or the size of your business; as data collection, analysis, and interpretation become more readily accessible, they will have an impact on every business in several important ways”[3]. Big data will only become a bigger part of businesses everywhere.

How, then, does one approach archiving such extensive sets of data as a business matures? What happens when a business needs to store different kinds of data, for instance, or structured data versus document-centric records? Thankfully, there are different archival approaches suited for different purposes. The first, and perhaps most relevant archiving method, is known as full schema archiving. Full schema archiving takes the complex relational database format of structured data and transforms it to a structure that fits with the archival system to be used[4]. This means that the data remains “searchable” using existing business queries, which may deliver either structured or unstructured records. An important part of this archival method is the archiving of the actual meaning of the data—just how is the data structured?—not just the data itself.[5]

With table or partial schema archiving, only a specific table or part of the full database is used. Partial schema archiving can be a result of partitioning, which limits the size of what would otherwise be an inflated database with unnecessary or redundant entries. The example Paragon gives: “In supply chain manufacturing you might have an instrument calibration and maintenance system—Maximo, ProCal and other type systems. Perhaps the record is defined in terms of plant floor equipment and work orders that can be extracted from the whole and defined in a partial schema or cut of the database whole[6].” As long as the records and the data models are well-defined, this partial schema method here will suffice.

The last archiving method we’ll look at here is print streaming or report-based archiving. This technique works by archiving only the kinds of reports that are run mostly typically by a business. These can be common reports run by managers or technical queries for audits or litigation purposes.[7] A benefit of this archival approach is its potentially drastic reduction in the resulting storage size. Reducing a large database down, on the one hand, to its essential and/or commonly used elements can dramatically shrink an otherwise unwieldy dataset. On the other hand, though, this archival technique can leave a substantial amount of data out of the mix, as often critical data consists of entries not typically if ever queried in the past. As always, such techniques must be considered alongside a cost savings and benefits analysis to determine which is right for a specific business and a given application.

Application Decommissioning

During the lifespan of nearly every business, there will arise the need to retire certain applications as programs are superseded by comprehensive upgrades and other important changes to the IT environment.This process, known as application decommissioning, is a notable part of the structured archiving process. An example would be when a company adopts a new Enterprise Resource Planning (ERP) solution. Typically, with such an upgrade the older system would be completely replaced. However, there remains a storehouse of important data accumulated through the legacy ERP system.[8] Application decommissioning deals with how this data is preserved. And the process has important consequences on the life and integrity of business data, hence it is crucial for the overall goals of a business.

There are an important set of questions that any business should ask itself when considering the process of decommissioning one or more legacy applications. The first of course is: precisely which applications should be retired and which should remain in operation?[9] The answer to this question involves a number of variables and can often appear as points of controversy for companies that have invested years of time and energy learning an IT platform. At the end of the day, though, a cost-benefit analysis can resolve the set of reservations concerning the prospect of any specific piece of legacy software. Such an analysis will reveal specifically how much will be gained by implementing the new system versus the losses of having to retire the current application or environment.

 Another important consideration regarding application decommissioning is preservation of the actual data accumulated through the usage of the application in question. For many platforms, not all of the data created will need to be stored. For instance, many applications, in addition to actual document data and database entries, will create preference documents along with various technical log files and operating system records. These data, for the most part, do not need to be stored. Most businesses will want to separate out the intentionally created documents—especially those deemed important data sources—from the more trivial data during the process of archiving. This way, once the legacy system is replaced by a newer version, the business will still have access to the legacy system’s most pertinent data.

Structured archiving can offer a measured solution to many of the problems that arise during application decommissioning. Of course, some of the problems may require intuitive responses if a full plan of action has not been drafted in advance. For instance, permissions for the archived data will need to be sorted out, along with the duration of the data storage. Additionally, a business may need to consider the way specific queries appear when accessing data from legacy applications. Thankfully, the majority of these issues can be decided before the application decommissioning process. By carefully considering these and other issues ahead of time, the structured archiving process will be a smooth and productive one with lasting impact.

Compliance with Enterprise IT Infrastructure and Legal

This last section will cover some of the issues that arise pertaining to compatibility with IT infrastructure and structured archiving along with compliance with emerging legal requirements. There are several reasons to be concerned with compliance and compatibility in this context. In fact, IT infrastructure compatibility arises as both a reason to retire legacy applications and emerges as an important consequence once such changes are put into place. In addition to software compatibility issues, similar problems arise from changes, for instance, in legislation that affects the IT industry. In any structured archival process, therefore, these issues will inevitably play a key role in an effective solution.

Take a common example of IT infrastructure compatibility: a new Customer Relationship Management (CRM) system is implemented. As a result of this change, many existing CRM documents will no longer be read by the new system. Therefore, a comprehensive structured archival process must be initiated in order to account for this data. This is, indeed, another way of thinking about decommissioning legacy applications. However, in this instance, we’re considering the consequences of an upgrade as requiring structured archiving due to compatibility problems instead of a broader plan to phase out legacy applications. Either way one views it, the process should include an archival approach that accounts for the best value in terms of the data will need to be chosen.

Regulatory compliance is an area that relates closely to the problem of infrastructure compatibility. Indeed, concerns about compliance are only due to increase as more applications are added to an IT infrastructure, but also relate to shifts in legal structures and cultural norms. As Jeroen van Rotterdam writes, “Regulatory compliance requirements are increasing and undergoing rapid change with new legislation,” going on to cite legislation such as the Markets in Financial Instruments Directive (MiFID), the “right to be forgotten,” and new legislation around privacy issues.[10] Taken together such changes can result in the same kinds of compatibility issues that arise from software and version problems.

We’ve now seen three different but related contexts in which structured archiving plays a crucial role for businesses today. Whether a company is managing significant data growth, decommissioning legacy applications, or working to maintain compliance with IT infrastructure or legal mandates, knowing and understanding effective approaches to structured archiving is invaluable for every business in operation today.

____

Footnotes:

[1]https://www.cmswire.com/cms/information-management/these-trends-are-driving-structured-data-archiving-025614.php

[2]https://www.forbes.com/sites/bernardmarr/2015/09/08/4-ways-big-data-will-change-every-business/#1bbdc7c42729

[3]https://www.forbes.com/sites/bernardmarr/2015/09/08/4-ways-big-data-will-change-every-business/#1bbdc7c42729

[4] http://www.consultparagon.com/blog/data-archiving-structured

[5] http://www.consultparagon.com/blog/enterprise-archiving-advantages

[6] http://www.consultparagon.com/blog/data-archiving-structured

[7] http://www.consultparagon.com/blog/data-archiving-structured

[8] https://www.consultparagon.com/blog/decommissioning-legacy-applications

[9] https://www.consultparagon.com/blog/decommissioning-legacy-applications

[10]https://blog.dellemc.com/en-us/emc-named-leader-structured-data-archiving-magic-quadrant-application-retirement/

Insights, Trends, and Predictions for 2021

Posted on by Antony
BORN Views
Insights, Trends, and Predictions for 2021

The next few months should see us at the cusp of a post-pandemic economy – with multiple vaccines looming over the horizon, there is a light at the end of the tunnel for another tumultuous year globally – a new US President and people adjusting to a post pandemic world. There’s a few trends born out of the disruptions over the year to note when considering the state of eCommerce moving into 2021, and I’ve decided to highlight what we believe are the five most important trends. Of course, I hasten to add, every single one of my predictions could be wrong. I have learned at a very young age that I have no orbuculum at my disposal and my scrying is a game of dice!  

Each trend connects with a greater cluster of users, from the consumer all the way to the integrity of the digital economy, so understanding each pillar of these predictions can go a long way in preparing for future disruptions and innovations ahead.

Hyper-personalizations: Considering the Consumer Alone

As buyer profiles grow more and more distinct with the aggregation of big data and the development of machine learning, hyper-personalization is a vital component of building modern customer experience. The world will move from broad segmentation to one to one marketing as the technology to further target content to the individual advances. We’ve begun to see this already to great effect in social media eCommerce as platforms like TikTok and Instagram have mastered the endless scroll via tailoring content specific to the individual, and now we see clear opportunities for early adopters in both B2B and B2C spaces to capture significant growth. Marketing to broad segments like Millennials or Baby Boomers won’t do. Everyone in these segments is unique so think about how you deliver 1:1 personalization. 

The Elastic Enterprise: Reevaluating Business Models

With demand and supply becoming global, business models will change. We will see more Direct to Consumer (DTC) and composite hybrids – B2B, B2C and B2B2C power the digital economy. Both DTC and B2B2C are now proven business models that have challenged conventional wisdoms in eCommerce and thrived in the wake of their disruption. Throughout the pandemic, DTC models have transformed household essentials into subscription based services that are tailored to one’s needs and personalized to their wants. B2B2C models on the other hand have allowed businesses to specialize in providing services to other smaller businesses who you may engage – like an air conditioning supplier (B) who works with the small business contractor (b) you (c) trust. 

The Longitudinal Book of Record: Understanding Connected Data Science

So I know your name and email. Over time I get to know your preferences.I keep building the small stub of information I have on you- like building a longitudinal book of record. Omnichannel has long been an established pillar of the digital economy, but going into the next decade, connected channels and the data science behind them will only skyrocket in significance. Companies will rely on building an infinitely extendable longitudinal book of record by collecting and compiling data from various channels – connected channels will be the next big thing. Efficient and effective CRMs, OMS’, and ERP solutions will help ensure that a business has that central node by which all customer interactions can connect towards. Building that book of record is the key piece in accumulating and executing the data to accomplish the sort of CX transformations like hyper-personalization that distinguish one commerce practice from another.

The Speed of the Human Mind: Powering Mass Consumption Instantly via 5G

Infrastructure across nations, cities, homes and businesses will upgrade to 5G to cater to mass consumption of information, instantly, everywhere, and as a result, the consequences to the digital economy will be staggering. Already we’ve seen brick and mortar rapidly erode from its conventional use-case as the nexus of shopping into a portal of customer experiences and tailored moments to match robust eCommerce solutions. 5G and the ensuing wave of digital infrastructure will only accelerate those trends further as it becomes even easier to search, engage, and purchase via any electronic device. Furthermore, that digital infrastructure can capture new consumer markets globally, putting more emphasis on useful technologies that can ensure fulfillment and tax liability across the world. So are you ready to deliver rich media. Chips, computers, phones, infra and 5G are ready to deliver it. 

Resilience: Safeguarding Your Business and the Digital Economy

All it took is one pandemic to change the nature of business irrevocably. Companies will seek to protect themselves from such events – a mindset to be battle ready in all circumstances has emerged. Both digital security protocols and multiple routes of fulfillment will be top of mind for businesses as the world moves closer to a pandemic vaccine. Tools to ensure credit monitoring and ID theft protection will find more and more value as we tilt even further into a digital first economy.

All in all, these insights reveal a commanding trend towards leveraging new technologies to heighten CX in the space. Between personalization, distribution, speed, and safety, disruption comes in many waves that each elevate a business towards the most efficient and effective commerce experience. We’re excited to implement these insights and heighten the brands we work with over the next years, and capture our onwards and upwards sentiment with the changing digital economy. In short: is your business capable of change. Rapidly.