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Quality Management System Software (QMS software) is a type of software application designed to help organizations improve their overall quality performance. It enables organizations to track, manage, and report on quality-related activities and processes, such as customer complaints, corrective and preventive actions, product and process audits, document control, and quality training. QMS software typically includes features such as document management, corrective and preventive action tracking, and non-conformance tracking. It can often be integrated with other enterprise software systems, such as ERP, MRP, and CRM, to provide a comprehensive view of quality management across the organization.
The Quality Management System Software Market research report provides all the information related to the industry. It gives the markets outlook by giving authentic data to its client which helps to make essential decisions. It gives an overview of the market which includes its definition, applications and developments, and manufacturing technology. This Quality Management System Software market research report tracks all the recent developments and innovations in the market. It gives the data regarding the obstacles while establishing the business and guides to overcome the upcoming challenges and obstacles.
The global Quality Management System Software Market is expected to grow at significant CAGR of 10% during the forecasting Period (2023 to 2030).
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Some of the Top companies Influencing this Market include:
SAP, ETQ, PTC, Oracle, AssurX, Veeva, Siemens, Intelex, Sparta, Pilgrim, MasterControl, ComplianceQuest, Cority, TIP Technologies
Competitive landscape:
This Quality Management System Software research report throws light on the major market players thriving in the market; it tracks their business strategies, financial status, and upcoming products.
Market Scenario:
Firstly, this Quality Management System Software research report introduces the market by providing an overview that includes definitions, applications, product launches, developments, challenges, and regions. The market is forecasted to reveal strong development by driven consumption in various markets. An analysis of the current market designs and other basic characteristics is provided in the Quality Management System Software report.
Segmentation Analysis of the market
The market is segmented based on the type, product, end users, raw materials, etc. the segmentation helps to deliver a precise explanation of the market
Market Segmentation: By Type
Cloud-Based
On-Premises
Market Segmentation: By Application
Large Enterprises (1000+Users)
Medium-Sized Enterprise (499-1000 Users)
Small Enterprises (1-499Users)
Regional Coverage:
The region-wise coverage of the market is mentioned in the report, mainly focusing on the regions:
North America
South America
Asia and Pacific region
Middle East and Africa
Europe
An assessment of the market attractiveness about the competition that new players and products are likely to present to older ones has been provided in the publication. The research report also mentions the innovations, new developments, marketing strategies, branding techniques, and products of the key participants in the global Quality Management System Software market. To present a clear vision of the market the competitive landscape has been thoroughly analyzed utilizing the value chain analysis. The opportunities and threats present in the future for the key market players have also been emphasized in the publication.
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This report aims to provide:
A qualitative and quantitative analysis of the current trends, dynamics, and estimations from 2022 to 2029.
The analysis tools such as SWOT analysis and Porter’s five force analysis are utilized, which explain the potency of the buyers and suppliers to make profit-oriented decisions and strengthen their business.
The in-depth market segmentation analysis helps identify the prevailing market opportunities.
In the end, this Quality Management System Software report helps to save you time and money by delivering unbiased information under one roof.
Table of Contents
Global Quality Management System Software Market Research Report 2022 – 2029
Chapter 1 Quality Management System Software Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Quality Management System Software Market Forecast
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Mostly clear early then partly cloudy and windy after midnight. Low 36F. Winds WNW at 20 to 30 mph.
Updated: January 11, 2023 @ 11:38 am

NEW YORK, N.Y., Jan. 10, 2023 (SEND2PRESS NEWSWIRE) — It is with great enthusiasm that EaseText, the world-leading creativity software company, announces the launch of EaseText Audio to Text Converter, the latest iteration of their award-winning speech to text transcription software. With EaseText Audio to Text Converter, users can convert and transcribe audio to text offline on computer with ease.
EaseText Audio to Text Converter is an offline AI-based automatic audio transcription software. It uses artificial intelligence technology to transcribe & convert audio to text in real-time. The transcription can run offline on your computer to keep your data safe and secure. It supports a wide range of languages and offers a range of customization features, including the ability to transcribe multiple speakers and generate summaries of meetings and conversations.
“Unlike using other online transcription software, users need to upload the audio file to a web server in order to transcribe the audio to text,” said Vincent Song, the CEO of EaseText. “Our Audio to Text Converter is an offline tool that provides high quality and accuracy. The whole converting process is done locally on the computer even without internet. This will keep the private data protected and secure.”
Step-by-step tutorial: https://www.easetext.com/tutorial/how-to-transcribe-audio-to-text-freely.html
OTHER FEATURES INCLUDE:
1 — Convert audio file to text in high quality
EaseText Audio to Text Converter can convert audio to text very fast, with high quality and high accuracy. Bath file converting is also supported.
2 — Transcribe speech to text in real time
EaseText Audio to Text Converter is a renowned automatic transcription tool that uses artificial intelligence technology to transcribe audio to text in real-time.
3 — Record Meeting and take notes smoothly
With EaseText, users can easily record meeting & take notes from Zoom, Microsoft Teams, Google Meet, and Cisco Webex, etc. It is a highly efficient tool both in terms of time and cost.
4 — Support saving text transcript as PDF, HTML, TXT and WORD
After converted & transcribed audio to text, users can export and save the content as a document file such as PDF, HTML, TXT or Microsoft Word.
5 — Support 24 languages including English, Spanish, Dutch, Italian, Chinese, etc.
Price and Availability:
For personal 1 computer usage, it is available at $2.95/month. You also can buy the Family edition that $4.95/month for 3 computers.
Learn More:
https://www.easetext.com/tutorial/how-to-transcribe-audio-to-text-freely.html
About EaseText:
EaseText Software is a leading software development company providing data management software solutions. Founded in 2012, EaseText has been an award-winning developer, especially in the image, audio, video, PDF and text converting field.
More information: https://www.easetext.com
Facebook: https://www.facebook.com/easetext
Twitter: https://twitter.com/ease_text
YouTube: https://www.youtube.com/@easetext
###
UPDATED 1.11.23 8:34 a.m. PST

NEWS SOURCE: EaseText Software

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Contract Management vs Contract Lifecycle management… They sound so similar that people easily mix them up, like Slovakia and Slovenia; conscious and conscience; apples and oranges (on second thought, maybe not that last one). But while contract management and contract lifecycle management seem synonymous at first glance, they’re not interchangeable.
If you’re looking for ways to improve your organization’s legal workflows, it’s important to know the difference. Otherwise, you risk being stuck with old-fashioned practices that won’t be of much help. That’s why we’re here. We’ll take you through some of the ins and outs of each so that you’re as familiar with them as the back of your hand.
Definitions
To choose the best possible approach to managing your document workflow, let’s take a peek at their definitions. This will help you choose the best option to control costs, oversee payments, monitor revenue, improve productivity, and reduce error.
Contract Management
Contract management is the process of managing contracts from their creation, through their execution by the chosen party, and to the eventual termination of the contract. We can say that contract management refers to the large scope of processes that encompass all contract-related operations. It can be manual, automated, or hybrid, where some processes are done manually and some are automated.
Contract Lifecycle Management
CLM is a forward-thinking approach to managing contracts. Contract operations are separated into defined stages, and the scope of actions needed at each stage is streamlined to achieve max efficiency. This approach often requires the use of technology to tailor actions across each stage of the contract lifecycle.
Contract Administration
Although this term is sometimes used to describe the same process, in reality, it’s just a part of contract management. Contract administration relates to everything you do before a contract is signed and executed.
Drawbacks of Old-School Contract Management
There are three approaches to contract management:
· Manual (all processes are done manually)
· Hybrid (some processes are manual and some are automated)
· Automated (the whole process is automated)
Doing something manually is an old-fashioned approach, whether you’re doing it all manually or just some. This could be as simple as having a mountain of documents on your desk, and with two minutes remaining before a critical meeting, you have to rapidly sift through them so you can find it.
Automation speeds up processes and eliminates unnecessary involvement of other people. But when we’re talking about contract management, there are other drawbacks aside from speed.
Contract management helps control funds, reduce risks, and stay on top of performance. However, there are many spots where bottlenecks can form, causing spikes in inefficiency.
First off, managing contracts manually may result in the loss of valuable information. If your internal teams don’t know the terms of contracts by heart (which is rarely the case) and can’t quickly check them, how can you be sure that you’re meeting the obligations they contain? In addition, information can’t be quickly reused for new contracts, forcing you to spend a lot of time entering data you already had.
How can you find the data you need among numerous documents if you put the contract away once it’s executed?
A lack of knowledge causes poor planning, misunderstandings, missed deadlines, unnecessary costs, and uncalled-for contract prolongation.
Here’s a quick math problem: If a lawyer’s average hourly rate is $90, how much money does your company lose annually on mere copying and pasting data across legal documents?
On top of that, if contract templates aren’t unified, they might not satisfy government requirements and company policies.
Here are some drawbacks to tracking contracts only from point A to point B:
· Lack of visibility. There are a lot of things you may need information about: dates, terms, costs, addendums, deliverables, party data, counterparty data, and due diligence. And that’s just the tip of the iceberg. With so many elements, it’s easy to lose track and discover that critical info got lost in the shuffle, making it excruciating to sift through and find.
Even if you do only some of these processes manually, it’s already outdated. Most common non-automated approaches are used for document exchange and storage. Let’s consider the drawbacks to old-school ways.
Where’s the Analytics?
When contracts are managed manually, there’s practically no performance analysis. And if there’s no analytics, there’s no chance to improve performance or find opportunities to increase the bottom line. If anything, you run the risk of burning money without even realizing it.
That’s because if data isn’t being pulled automatically, it’s hard to quickly check how well a contract’s performing. By having easy access to executed contracts, you can avoid wasting time searching for and collecting information that you need to analyze. Instead, all your time and effort can focus on monitoring and boosting performance.
Here’s a simple rule to live and work by: If you don’t control the whole lifecycle, you don’t control the workflow.
Document Exchange: Spreadsheets, spreadsheets everywhere!
In manual contract management, companies use programs such as MS Word to create a contract. Document exchange is often made using spreadsheets and emails. This may seem like the first step to increasing visibility and taking control over your contracts, but it’s not as good as it may sound.
The first problem with sharing contracts via spreadsheets and emails is the lack of security. You might send a letter or give access to the wrong person, or your email could be hacked or compromised by a phishing letter. If cybercriminals break into your organization’s system, they can communicate as if they were an employee, get the information they need, request money transfers to their account, or change data in your documents. Only one phishing message is enough to let them spy on your communication. On average, companies receive almost 1,200 such letters each month.
Inefficiency is another problem of manual exchange. It appears due to the following reasons:
Keeping track of contracts, diligent reviews, updates, and data accuracy are crucial for business efficiency. The problem is spreadsheets are not designed to support the whole lifecycle of a contract, nor do they create a comfortable environment for real-time contract redlining and approval.
Storage
Without centralized storage, documents are stored across numerous folders on different computers or even on paper in file cabinets. Having tons of contracts in different forms (paper and electronic) scattered in different locations makes it hard, if not outright impossible, to track, manage, and analyze files. Decentralized ways of storing contracts create several problems:
In addition to colleagues, your clients could suffer as well. It’s difficult to provide proper customer service when colleagues aren’t able to find information quickly and can’t be sure they’re using correct data.
Contract Management vs CLM
CLM uses AI-based technology to control the entire lifecycle of a company’s contracts. Implementing contract management software is the fastest way to improve contract management and remove roadblocks that delay contract authoring, negotiations, approvals, and renewals. Thus contract execution is faster, and real-time visibility allows for easier contract management while decreasing risks and lowering costs.
CLM processes often address automated document drafting, streamlined contract redlining in real time, transparent approval flows, and analytics. Here are some of the ways a CLM system helps manage contracts:
Not to mention, contract lifecycle management saves a huge amount of time. Fast searches, no manual tracking of important dates, no manual data input, and self-service document creation allow you to forget about routine. And as a bonus, happier employees
Final Words
If you want to gain control over your contracts, a manual approach to contract management is not the best option. Even after the contract is terminated, nothing’s over. It still holds valuable information that can be analyzed.
Contract lifecycle management facilitates workflows and streamlines document turnaround by providing centralized storage and easy access to information. Implementing a CLM system is a strategic step that can help you manage your contracts better and gain the best possible value.
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By: Sam Willis – Guest Contributor on July 12, 2022
Although construction is a hands-on type of profession, the most successful contractors leverage technology to the fullest. Whether it be accounting software to help keep financials in order, store locator software to route local customers to business locations, or inventory management software to ensure just-in-time delivery of building supplies, there is no shortage of programs that can give builders an edge in the current digital business environment.
One of the most essential programs for home builders is computer-aided design (CAD) software. Quality CAD software allows contractors to plan and develop every aspect of the home-building process, leading to elite project accuracy and improved client satisfaction.
Keep reading to find out six key benefits of using CAD in new home construction.

Freehand renderings of blueprints cannot match CAD software in terms of accuracy and image quality. CAD software provides engineers and architects with a plethora of tools to design a digital rendering of the home just as they imagined.
The right materials knowledge, such as fiber cement siding specifications or metal stud ceiling framing details, combined with the appropriate mathematical equations allows builders to leverage the software to come up with design concepts that are otherwise difficult to put down on paper.
In addition, a final CAD rendering is more legible and contains fewer errors than freehand efforts, resulting in better image quality and, ultimately, a more accurately constructed home.

CAD drawings in Procore (Source)
There is no shortage of parties who will need to access plans and blueprints when constructing a new home: architects, engineers, project managers, contractors, or even general construction workers.
Without CAD software, updating and distributing these important documents to all parties can be a major chore, often requiring daily construction meetings to make sure that everyone is on the same page. Not only does this keep workers out of the field and slow the construction process, but it prevents architects and engineers from getting started on their next build.
With CAD software, drawings and plans are stored in the cloud. This allows all team members to access documents from their personal devices, making changes as necessary and ensuring that everyone is alerted in real time for optimal project cohesion.
Although there have been incredible advances in building materials innovation in recent years, it can be difficult to tell how materials will perform in action until a home is actually built.
With CAD software, builders can avoid this pitfall by using computer simulations to quickly swap and test different types of building materials.
For example, a single click can switch the building’s framing materials from insulated metal panels to ICF, or roofing materials from asphalt shingles to composite slate tiles.
Not only does this give designers a better visual for how the different materials interact aesthetically, but it allows them to more accurately predict how material changes will impact design specifications.
Rework ends up costing construction firms an average of five percent of their contract value^[1]. This equates to roughly $50,000 of revenue lost for every $1 million built.
However, with the right planning and communication, rework costs can approach zero.
In addition to more accurate digital renderings and document sharing through the cloud, CAD software allows architects to model electricity, plumbing, and other home elements, helping create a more comprehensive design with fewer surprises as construction of a new home progresses.
Just as CAD software can help construction firms avoid costly rework scenarios, it can improve client satisfaction by yielding more accurate project estimates.
Due to greater accuracy and specificity in the design process, firms can pinpoint the number of labor hours needed, predict material quantities with certainty, and better utilize tools and machinery to help arrive at the most accurate, competitive cost possible.
As so much of the construction industry is going digital in 2022, it’s beneficial to integrate CAD software with other construction technology.
Specifically, as enterprise resource planning (ERP) software is central to most construction operations, CAD software can be a critical cog in expediting the time it takes to transition raw materials into a move-in ready home.
One truly innovative way it can facilitate this process is through computer-aided manufacturing (CAM). Using CAM, the CAD model can send a production code for the manufacture of specific materials.
This can be especially beneficial in the fabrication of custom homes where stock supplies may not be sufficient for completing the project as designed.
Of all of the software programs at home builders’ disposal in 2022, arguably none is quite as beneficial as CAD software.
If your contracting firm is unhappy with how its designs are coming to life, invest in CAD software today to help your profitability soar.
To get started bringing your designs to life and creating more accurate designs, faster, get started comparing and learning more about our collection of takeoff and CAD solutions.
Does your construction firm need features beyond CAD? Explore other tools and solutions that can help with all your construction needs.
Note: The application selected in this article is an example to show a feature in context and is not intended as an endorsement or recommendation. It has been obtained from sources believed to be reliable at the time of publication.

Sources
1. The Cost of Rework in Construction and How to Prevent It, eSUB, Inc.
10 Best Construction Project Management Software
The 9 Best Construction Software To Help Your Business Thrive in 2022
A Guide to Construction Software Pricing Models
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Guidance
February 1, 2022
View as PDF
As used herein, the following terms shall have the following meanings:
In accordance with the relevant grant agreements by which MCC provides funds, MCC has the right to review and approve (through a response of No-Objection) or disapprove (through a response of Objection) a wide range of documents and administrative actions proposed by Accountable Entities (AEs).
This guidance seeks to provide AEs with (1) information related to the MCC Technical Review and No-Objection processes, and (2) best practices on the establishment of internal AE processes relating to MCC document reviews. This guidance is intended to help AEs efficiently and effectively manage their internal review process, which can lead to submission of high-quality requests that meet all MCC requirements and can receive timely MCC Feedback and/or No-Objections.
No-Objections are a core component of MCC’s oversight model. Over the course of a compact, AEs typically submit hundreds of requests for No-Objection. Having clearly established processes and procedures to facilitate No-Objection requests is thus critical for program success.
The purpose of MCC’s No-Objection is to ensure that requests submitted by the AE comply with MCC’s policies, standards, and practices and the relevant legal agreements, as part of the agency’s stewardship of U.S. taxpayer dollars. MCC’s No-Objection assures the AE and the partner country that MCC will allow MCC Funds to be used for the proposed action and/or that a Government Expenditure is expected to fulfil the government’s obligations to MCC. No-Objection reviews allow MCC to oversee what is being proposed and how it will be accomplished or implemented, before permitting MCC Funds to be used. This process is critical, as items that move forward without receiving a required No-Objection could be subject to refund by the AE or partner country government or result in a Government Expenditure not being counted toward the government’s obligations to MCC.
Annex 1 identifies the common documents and decisions that require MCC No-Objection. Additional documents and requests for which MCC will provide its No-Objection should be identified and discussed between MCC and the AE on an ongoing basis throughout program implementation. Further, MCC has the right to Opt-in to provide its No-Objection on any document or decision it deems critical to overall program success. MCC may, at its discretion, also choose to Opt-out of No-Objection reviews. In cases where MCC decides to Opt-in or Opt-out of a review, the Country Team Leadership will provide written notification to the AE.
Requests for No-Objection must be submitted to MCC via the Resident Country Mission (RCM), following the standard process established between MCC and the AE (see Section III for additional information). 2 Unless otherwise agreed by MCC in writing, all No-Objection requests should be submitted in English.
Following submission, MCC’s internal review involves a process with many stakeholders—it is not only one person within MCC who assesses a request for No-Objection.
MCC reviews for No-Objection will primarily focus on compliance with MCC requirements, and MCC will only object to a document if the assessment identifies Fatal Flaws.
Fatal Flaws include, without limitation, the following:
For additional details on how these are applied, the AE should consult the MCC Country Team.
When MCC objects, the specific Fatal Flaw(s), and suggested remedies, will be communicated to the AE in writing by the RCM.
Once MCC’s internal review process is complete, the RCM will respond to the AE with either a No-Objection or an Objection, following established procedures as outlined in Section III below. MCC’s response to a request for No-Objection will always be in English, though MCC may include additional attachments in other languages, where appropriate.
If MCC provides a No-Objection, the AE is authorized to move forward with the request. However, if MCC objects, MCC Funds cannot be used for the request. MCC’s Objection would likewise mean that a Government Expenditure used to implement the request would not fulfil the government’s obligations to MCC. Following an Objection, the AE will typically revise the request and resubmit it for No-Objection.
In some cases, MCC may provide its No-Objection, but also provide Feedback on issues that could help improve the document or request but are not considered Fatal Flaws. In these cases, the AE may choose whether to address or respond to the Feedback in the final version. Edits to address MCC Feedback are the only substantive changes an AE is authorized to make after MCC provides its No-Objection. If other substantive changes are introduced after MCC provides its No-Objection, the AE should resubmit the request for No-Objection.
The AE should always submit the final version 5 of the document to MCC, including incorporation of any Feedback. If the final document or decision is materially different from what MCC provided a No-Objection to, MCC could withhold funding, and might even demand refunds of any amounts spent for purposes other than those approved by MCC.
The MCC Country Team Leadership will work with the AE to define typical expected response times for No-Objections. 6 However, the amount of time required for the RCM to respond to a specific request for No-Objection will vary based on the type of request, level of complexity and whether any MCC consultants will be involved in the review process.
Particularly complex requests may require additional processing time and multiple submissions (in addition to Technical Reviews). In cases where the AE submissions have significant deficiencies and/or require additional coordination within MCC, the response time may be longer. AEs should also be aware that if they submit several requests for No-Objection in a short timeframe MCC may require more time than usual to process all the requests. In cases where MCC requires a longer turnaround time than normal, the RCM will alert the AE as early as possible.
To help promote more efficient No-Objection processes, one or more Technical Reviews with
MCC are strongly recommended. This can help ensure that documents are in an acceptable state before they are submitted for No-Objection.
Technical Reviews provide an opportunity to identify and address significant issues that may be Fatal Flaws. Technical Reviews allow the MCC Country Team and AE counterparts to identify and discuss Feedback, varying technical approaches, and professional differences. They also allow the MCC Country Team to identify and recommend changes related to grammar or stylistic issues. In cases where MCC and AE staff disagree, each side should justify their position (based on previous experience, global standards, etc.) such that MCC can determine the way forward.
As discussed in Section III below, MCC and the AE should agree on whether, or in what circumstances, Technical Reviews are required, 7 and the specific protocols for Technical Review submissions. When documents are submitted to MCC for Technical Review, they will be circulated to all MCC staff who will have a role in the No-Objection process.
The timeline for Technical Reviews may vary widely based on the level of complexity of the document(s) and whether any Informal Reviews are completed before the document is submitted for Technical Review. It is important, however, for MCC and the AE to agree up front on an appropriate timeline for a given Technical Review.
At the end of the Technical Review, MCC provides Feedback; an Objection or No-Objection is not issued.
In certain limited circumstances it may be possible for MCC to undertake expedited reviews; however, this is expected to be uncommon and based on a specific, exigent and justified need. In cases where the AE expects to request an expedited review, the AE should consult the RCM as early as possible to determine if it will be possible and if so, to agree on an appropriate review period.
There are many technical documents—those that will ultimately be submitted for No-Objection and those that will not—that AE staff work on together with their MCC counterparts. Some documents, such as consultant deliverables that do not require No-Objection, may go through an Informal Review by MCC but not require any subsequent action/submission. For other documents that do require No-Objection, an Informal Review can precede a Technical Review and/or submission for No-Objection. In cases where individuals undertake Informal Reviews, these can be performed on an informal basis, between MCC and AE counterparts, and do not need to follow standard No-Objection or Technical Review processes, as established through the procedures outlined in this document.
AE staff are encouraged to discuss the substance of upcoming requests directly with their MCC counterparts during the drafting process, and before the item is ready for Technical Review or submission for No-Objection. When documents are shared with technical counterparts for Informal Review, they may be shared with others on the MCC Country Team, but there are no standard requirements or procedures that govern this.
Close and regular communication between MCC and AE counterparts is critical for effective program operations. Close coordination throughout the Informal Review, Technical Review and No-Objection processes can lead to a more rapid clearance process and minimize iterations between MCC and the AE.
AE staff should collaborate closely with their technical counterparts in MCC, discussing upcoming requests and addressing any key questions. This provides an opportunity for MCC staff to share best practices from experience in other countries. It is also an opportunity for AE staff to confirm that the right AE staff are involved in the internal AE review process, and to determine up front what supporting documents may be required for a given No-Objection.
In planning for upcoming reviews, different types of requests could warrant different types of collaboration between counterparts. MCC and AE staff should employ various types of collaboration, including written exchanges, document reviews, phone calls about specific issues, collaborative work sessions to review and jointly edit documents, etc., as appropriate for the specific request.
Following a Technical Review or Objection, and where practical, AEs should “track changes” in documents and submit both clean and tracked changes versions for No-Objection. This will allow MCC to quickly identify what has changed and facilitate a faster and more efficient No-Objection process.
As mentioned above, No-Objections are a critical component of program implementation processes, and delays with the No-Objection process can lead to overall program delays. To help promote success, AEs must work with MCC early in the program to establish protocols for AEs to submit and MCC to respond to requests for Technical Review and No-Objection. This should, at a minimum, include the following elements:
For an example MCC Country Team and AE protocol for managing Technical Review and No-Objection processes, please see Annex 2.
To help inform both AE and MCC planning processes, the AE is encouraged to maintain a tracker or other tool which can provide a summary overview of the items that are expected to be submitted for No-Objection over a given time. Noting the limited bandwidth of individuals and teams, AEs are encouraged to develop an internal prioritization process, whereby expected upcoming submissions for No-Objection are reviewed, prioritized, and submitted in accordance with the established work plans. This can help the AE ensure that items on the critical path are not delayed while other, lower priority items move forward.
Clear communication with MCC, at both the technical and management levels, can help promote appropriate planning on both sides. This is especially critical in cases of time-sensitive, large, or critical documents, requests that may require input from MCC consultants, 8 and/or items that also have to go to the AE’s Board.
Please refer to Annex 3 for an example tracking tool. AEs are also encouraged to incorporate submissions for No-Objection into its master workplan.
For reviews which are undertaken through the MCC Management Information System (MCC MIS), responses are automatically transmitted to the system users. These users are typically the financial and/or procurement leads in the AE, though it is recommended that the appropriate AE executives also have system access and receive notifications. Whether through the system or otherwise, the AE and MCC should establish procedures to ensure that AE leadership is informed when decisions are taken on these requests.
Many items listed in Annex 1, as well as program-specific items that MCC reviews, are typically deliverables prepared by AE contractors, consultants, grantees, or partners (i.e., design documents, resettlement action plans, environmental and social impact assessments, etc.). To ensure that the AE is able to comply with any contractual timelines, the AE should review all contractual deliverables with MCC during the preparation of terms of reference and prior to contract signatures to identify those that will require MCC No-Objection. AEs should then work with MCC to ensure that all contracts, grant agreements, etc. provide sufficient time for MCC to complete the Technical Review and/or No-Objection reviews and the AE to review and consider MCC’s comments before responding to the contractor, consultant, grantee or partner.
Note that although MCC will make its best effort to identify all documents MCC will need to provide No-Objection on during the planning phase, MCC may still Opt-in to document reviews at a later date. In these cases, the AE should promptly communicate with the consultant if there is an expected need to amend contractual timelines or if there are any expected delays in deliverable finalization.
Contract and grant amendments are the subject of many No-Objection requests and often result in significant discussion between the AE and MCC. In accordance with the MCC Program Procurement Guidelines (PPG) and Program Grant Guidelines (PGG), an MCC No-Objection is typically only required for contracts and amendments over certain thresholds.
For contract and grant amendments that require MCC No-Objection, prior amendments and the original contract or grant agreement are often relevant supporting documents that MCC needs to assess the request; this is particularly true in cases where those contracts, grant agreements, or amendments were not previously submitted to MCC for No-Objection. MCC and the AE should establish protocols for how the AE will transmit copies of the original signed contracts/grant agreements and any earlier amendments that preceded the amendment being sent for MCC No-Objection. 10
To facilitate the review process, MCC also recommends that AEs include a cover sheet/justification with No-Objection request for contract/grant amendments. For a template cover sheet for contract amendments, which has been used successfully in some MCC countries, see the Contract Amendment Authorization Form within the MCC Procurement Toolkit for MCA Entities. 11
Contractual scope changes and grant program description changes may also introduce additional issues that MCC and AE staff must carefully consider. For instance, what is initially viewed as a simple change may have implications for expected program outcomes more broadly that will require careful analysis of the costs, benefits, risk, purpose, potential delays, change in economic rates of return (ERRs), etc. For a framework to help teams think through potential scope changes please refer to the AE’s Contract Administration Manual (CAM), Contract Management Manual (CMM), Contract Administration and Management Manual (CAMM), Grants Operational Manual (GOM), Leverage Grant Facilities (LFG) Operational Manual and Partnership Navigator, and/or change management documents, as applicable.
Changes or modifications that impact a project or activity’s scope, cost, ERR, and/or number of beneficiaries may require additional MCC review prior to MCC issuing a response to a request for No-Objection. This may take longer than the normal review period, and these types of requests may have a higher likelihood of not receiving approval. In cases where the AE expects to request this type of modification, the AE should provide a rationale and consult the RCM as early as possible to determine how best to proceed.
For proposed budget reallocations submitted through Schedule A in the Quarterly Disbursement Request Package (QDRP), the AE must submit a budget reallocation request. 12 For other types of program modifications, AEs should consult the MCC Country Team Leadership to determine what specific documentation may be required.
To help facilitate a smooth No-Objection process, the AE is encouraged to establish its own internal protocols for developing and submitting requests for Technical Review and No-Objection.
AEs are encouraged to establish clear responsibilities for monitoring all No-Objection requirements, ensuring that they are submitted in accordance with the work plans, and tracking internal activity. Note that this should be monitored at multiple levels: technical leads monitor No-Objections related to their specific areas of responsibility and higher levels of management monitor the overall No-Objection process for the AE.
Noting the volume of No-Objection requests that are typically submitted over the course of a program, many AEs have found that having a single No-Objection focal point who is responsible for submitting and receiving responses to requests for No-Objection and monitoring the overall process has helped promote process efficiency.
While No-Objections are required as a central tenet of MCC’s oversight processes, it is important to recognize that AE-level reviews are just as critical. To ensure document preparedness and appropriate communications internally and with key external partners, AEs are encouraged to establish an AE-level review and clearance process. In addition to internal AE reviewers, the AE-level review process may also require review, input and/or approval from external stakeholders 13 or consultants. For instance, implementing entities may be closely involved with the review and approval of design documents, resettlement action plans, consultant reports, etc. The internal process established by the AE should appropriately track and document when such external stakeholders review, provide input and/or approve documents prior to submission to MCC for No-Objection.
Similarly, AE Board of Directors (AE Board) bylaws often require approval of many different types of documents. While the Accountable Entity Guidelines (Section 3.2.E), PPG, and PGG Approvals Matrixes outline some specific items that always require AE Board approval, each AE Board establishes its own review and approval requirements. To ensure that both AE and MCC staff understand which documents require AE Board approval within a specific country, the AE should develop a clear list of items requiring AE Board approval; 14 this list should be shared widely within the AE and with the MCC Country Team.
AEs are encouraged to develop one or more process flows to outline the roles, responsibilities, and steps in the AE-level review process. When developing the process flow(s), AEs should establish the order in which reviews take place, including whether the MCC Technical Review and/or No-Objection processes are undertaken before, after or concurrently with other external stakeholder reviews. Note that the internal review process undertaken by AE staff should normally be completed before documents are submitted to MCC. For reference, a process flow explanation and example process flow diagram are included in Annexes 4 and 4a.
To facilitate the internal AE review process, the AE is encouraged to establish its own clearance matrix which establishes roles, responsibilities, and authorities for each type of document. In particular, the AE Clearance Matrix should help ensure that crosscutting sectors are appropriately engaged in the internal AE review process before requests are submitted to MCC.
There are many forms this matrix can take, and AEs are encouraged to consult the MCC Country Team Leadership if they want to learn more about different approaches. An example AE Clearance Matrix is included in Annex 5. This example focuses specifically on items that require MCC No-Objection, though AEs are encouraged to expand or modify the matrix to include rows for additional, program-specific requests that will require internal review. AEs should also review and modify the columns and designations in the matrix to fit their specific staffing structures and country circumstances. To the extent possible, AEs are also encouraged to delegate approval responsibilities below the executive level.
This matrix should be updated periodically, and could be used to assign specific roles and responsibilities for each item in the No-Objection tracker, discussed in Section III.A above.
Each request for No-Objection must include a clearance sheet indicating which AE staff have reviewed and cleared on the document prior to its submission to MCC. For an example clearance sheet, please see Annex 6.
AEs should agree with the RCM on a format for the clearance sheet. AEs should also establish clear internal processes and procedures for filling out clearance sheets and ensuring that they are submitted to MCC as part of the No-Objection request. In cases where a member of the AE had concerns and did not clear, the reason for their non-clearance, as well as the approver’s rationale for overruling their non-clearance, should be explained on the clearance sheet. Noting that MCC technical staff may raise concerns similar to those of AE technical staff, including this information on the clearance sheet provides an opportunity for MCC to consider the different perspectives when deciding whether to provide a No-Objection.
While the clearance sheets are not required for Technical Reviews, AEs are encouraged to provide MCC with information on which AE staff have provided input, and whether their feedback has been incorporated. This can help facilitate a more efficient MCC Technical Review process.
Some AEs have struggled with document management and version control. This can have significant impacts on program timelines and can negatively affect the No-Objection process. To address this issue, AEs are encouraged to use collaborative software to manage the internal document development and review processes. 15 AEs are also encouraged to establish a document management process that defines roles and responsibilities, nomenclature, and other details related to document management. 16 For additional information on how to use available software and/or establish document management systems, please consult MCC’s MCA MIS team.
With regards to specific No-Objection requests, the document owner should retain responsibility for ensuring that the correct version of the document is used for all steps in the No-Objection process.
While not all AE staff will have a direct role in the No-Objection process, it is important that all program staff have at least a basic understanding of No-Objection requirements and procedures. To facilitate this understanding, MCC and the AE should train staff at all levels, so they are informed on the No-Objection process and its implications for compact implementation, the AE’s internal review process, and their responsibilities within it, based on their specific role within the AE. Trainings can be formal and/or informal, and should be incorporated into the AE’s onboarding plans, periodic training plans, etc.
Of the following annexes, Annex 1 is the only one that conveys specific requirements, noting that the items listed there must all be submitted for No-Objection. Annexes 2 – 6 have been developed as illustrative examples of tools for managing the Technical Review and No-Objection processes. However, these are examples only, and there is no requirement for AEs to use these formats or approaches. Should AEs, together with their respective MCC Country Teams, choose to develop these tools, they may use these examples as starting points for further customization, or create something completely different.
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New Jersey, United States, Oct 17, 2022 /DigitalJournal/ The Enterprise Document Management Systems Market research report provides all the information related to the industry. It gives the markets outlook by giving authentic data to its client which helps to make essential decisions. It gives an overview of the market which includes its definition, applications and developments, and manufacturing technology. This Enterprise Document Management Systems market research report tracks all the recent developments and innovations in the market. It gives the data regarding the obstacles while establishing the business and guides to overcome the upcoming challenges and obstacles.
Enterprise Records Management (EDM) is a strategy for overseeing an organizations paper and electronic records so that they can be easily retrieved during a compliance audit or subpoena. The term originally referred to electronic documents created on a computer or paper documents scanned into a digital format. The meaning has expanded to include emails, images, internal documents such as company memos and external documents such as marketing or sales content.
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Competitive landscape:
This Enterprise Document Management Systems research report throws light on the major market players thriving in the market; it tracks their business strategies, financial status, and upcoming products.
Some of the Top companies Influencing this Market include:Ademero, Adobe Systems Incorporated, Ascensio System SIA, Blue Project Software, Box, Dropbox Business, eFileCabinet, Evernote Corporation, Google, Konica Minolta, LSSP, Lucion Technologies, M-Files, Microsoft Corporation, Nuance, Officegemini, Salesforce, Speedy Solutions, Zoho Corporation,
Market Scenario:
Firstly, this Enterprise Document Management Systems research report introduces the market by providing an overview that includes definitions, applications, product launches, developments, challenges, and regions. The market is forecasted to reveal strong development by driven consumption in various markets. An analysis of the current market designs and other basic characteristics is provided in the Enterprise Document Management Systems report.
Regional Coverage:
The region-wise coverage of the market is mentioned in the report, mainly focusing on the regions:
Segmentation Analysis of the market
The market is segmented based on the type, product, end users, raw materials, etc. the segmentation helps to deliver a precise explanation of the market
Market Segmentation: By Type
On-premise
Cloud-based
Market Segmentation: By Application
SMEs
Large Enterprises
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An assessment of the market attractiveness about the competition that new players and products are likely to present to older ones has been provided in the publication. The research report also mentions the innovations, new developments, marketing strategies, branding techniques, and products of the key participants in the global Enterprise Document Management Systems market. To present a clear vision of the market the competitive landscape has been thoroughly analyzed utilizing the value chain analysis. The opportunities and threats present in the future for the key market players have also been emphasized in the publication.
This report aims to provide:
Table of Contents
Global Enterprise Document Management Systems Market Research Report 2022 – 2029
Chapter 1 Enterprise Document Management Systems Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Enterprise Document Management Systems Market Forecast
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While some of Slack’s private code repositories were breached, Slack’s primary codebase and customer data remain unaffected, according to the company.
Analysis of Google Trends data shows a clear spike in interest over the past month or so, coinciding with the app’s release, both in…
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Document management, often referred to as a document management system (DMS), is the use of a computer system and software to store, manage, and track electronic documents and electronic images of paper-based information captured at the using a document scanner. The Document Management System (DMS) market is constantly evolving, driven by the need for increased efficiency in the workplace. Improving technologies and efficient execution of DMS should gradually eliminate the traditional concept of paper records.
Document Management Market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis. It also provides market information in terms of development and its capacities.
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Some of the Top Companies Influencing in this Market includes:
Various factors are responsible for the market’s growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Document Management market. This report is a consolidation of primary and secondary research, which provides market size, share, dynamics, and forecast for various segments and sub-segments considering the macro and micro environmental factors. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitute, and the degree of competition prevailing in the market.
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Global Document Management Market Segmentation:
Market Segmentation by Type:
On-premise
Cloud-based
Market Segmentation by Application:
Government
Healthcare
BFSI
Others
Regions Covered in the Global Document Management Market Report 2020:
? The Middle East and Africa (GCC Countries and Egypt)
? North America (the United States, Mexico, and Canada)
? South America (Brazil etc.)
? Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
? Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
The cost analysis of the Global Document Management Market has been performed while keeping in view manufacturing expenses, labor cost, and raw materials and their market concentration rate, suppliers, and price trend. Other factors such as Supply chain, downstream buyers, and sourcing strategy have been assessed to provide a complete and in-depth view of the market. Buyers of the report will also be exposed to a study on market positioning with factors such as target client, brand strategy, and price strategy taken into consideration.
Key questions answered in the report include:
Table of Contents
Global Document Management Market Research Report 2021 – 2028
Chapter 1 Document Management Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Document Management Market Forecast
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Collaborative Applications Market
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Today, there’s a CLM software for almost every business, whether it’s small or an enterprise. It’s no surprise since contract management software increases productivity, saves time, automates tasks, improves contract management efficiency, and cuts costs.
Manual contract management requires a lot of time and effort. Research shows that companies lose 9.2% of their annual revenue due to ineffective document management. The average cost of a contract varies from $6,900 for simple contracts to $49,000 for complex ones. And as the number of documents rises almost everyday, so do management costs. Consequently, switching to a contract lifecycle management system is no longer an option, but rather a necessity.
The Problem
Choosing a solution is a big deal as there are many things to consider. It may be a hard undertaking since the CLM software market has become enormous with lots and lots of vendors. There are hundreds, if not thousands, of solutions to choose from that offer different functions, services, and prices.
However, a wide variety of options is not the only challenge. The other is finding out how much it will cost. If you google solutions, you’ll see a wide range of prices with the cheapest at less than $1/month. That seems pretty nice, but…
…the reasonable question regarding what you’ll get arises. Will it cover all your needs, or perhaps the price shown is only for some basic features like centralized storage? Most likely, you’ll need more than that.
Price is one of the most important aspects when you’re choosing the right CLM system and pitching this software to your stakeholders. Without knowing what it’s based on, you won’t be able to calculate the ROI.
The problem is that prices aren’t really visible. Quite often, when visiting a provider’s website, you have to book a demo to discover what their pricing is. This starts an endless sales cycle that you might not be ready for. The research process becomes multifold, often leading to an understanding that while the software might be great, you just spent hours on calls only to discover that it’s way out of your budget.
Revealing the Truth About What Exactly Shapes CLM Prices
Most of the factors that determine the price for a contract lifecycle management solution are related to the company’s size. This is reasonable considering that big enterprises usually have more complex workflows and customizations than small businesses. Below, we highlight 9 various aspects that influence the price of CLM software:
Knowing what the price of CLM software is based on will help you make a more informed decision when choosing one. These are the main factors that impact the price, but there are still other things you should be aware of. If you’re not, you may be in for a shock when you receive the final bill.
· Number of users. Some software pricing structures are based on the quantity of users. For particular solutions, these costs may impact the cost per month. That’s why enterprises usually pay significantly more for contract management software than smaller companies.
· Features. The simplest CLM solutions cover only one stage of the contract lifecycle. More complex platforms offer a wide variety of features, such as automation, reporting, analytics, template libraries, notifications, collaboration, and much more. But don’t fall for a million features. It’s better if the solution is scalable, so you can get additional features when your business needs them.
· Integrations. Some operational processes may need third-party integrations, such as. CRMs, eSign, and messaging apps. Some vendors charge for such integrations. That means the more integrations there are, the higher the price is.
· Storage. The amount of documents stored impacts the price. But besides size, additional capabilities like smart search may be charged separately.
· Security. Keeping data safe is a top priority for any business. Breaches may cost businesses millions of dollars and reputational losses. So while security may not affect the price of plans, companies that provide better, more reliable, and more robust security measures may be naturally a bit more expensive. But considering the potential losses from a security breach, it may be well worth the investment.
· Volume of documents. Generally speaking, the more documents you process, the higher the price. Some companies allow you to pick a plan that covers a certain number of documents, and if you exceed that number, you pay a bit more. This permits some degree of flexibility as you can start small and see what you need before scaling up.
· Number of workflows. Similar to volume, the greater the number of workflows or templates that need to be supported, the more you should expect to pay.
· Advanced tech. This could be the implementation of artificial intelligence, machine learning, or some other technology that provides a hand in completing work. But before you fork over the cash for AI, you’ll want to have a discussion about whether or not you really need it, as well as what are the costs and benefits for you.
· “A la carte”. By this, we mean the ability to mix, match, and combine any or all of the previously mentioned price factors. Companies usually price their services as a set, Combination of all or any of the above and less obvious costs, described below.
Hidden costs
The cost of CLMs consist of the essentials above. You can calculate it and the sum may seem acceptable. But that doesn’t mean it’s the final cost. It can be much higher because of additional fees you weren’t informed about.
The most common additional fees are charged for the following services:
Implementation. Configuring user accounts, setting up workflows, and automating contract templates may cost additional money. There are three standard approaches for implementation: 1) An implementation fee paid in addition to the software cost; 2) Implementation is included in the software cost; and 3) Implementation on your own (which is likely free, but may lead to unnecessary headache and stress).
Customization. Vendors often charge additional fees to customize a CLM to your needs. So, if you want to get something more than basic features, or if you simply need particular features for your existing workflow, you’ll have to pay more.
Team training. Most likely, your employees do not know how to use the new software. It takes time and effort to learn before they can start fully using it. CLM providers will help you with that, but some of them charge extra for educational meetups.
Customer support. If you don’t clarify the terms of this service, it may cost you an arm and a leg. Technical assistance can be provided completely for free, for a fee, or with conditions (i.e. only during business hours on weekdays).
Add-ons. Many vendors may offer essential business add-ons such as e-Sign for additional fees. Such details can make the invoice much bigger than what you expected.
Legacy data migration. If you want to avoid being forced to manage multiple storage systems, you’ll want to migrate your legacy contracts and data to the new system. However, this takes time and a bit of effort, and that usually means an extra fee.
When choosing and negotiating with a vendor, make sure to cover all the basics and find out if it’s included in the final price or not.
Starting Point
And once you do have the space in your budget, don’t rush for the cheapest, the most feature-heavy, or the most famous solution. You first need to understand your business’ CLM software requirements. Start by assessing how your company will use the software so that you know what needs it should cover.
To determine your requirements for a contract lifecycle management system, you should analyze your existing document workflow. There are some points you should consider first and foremost:
· The number of ‘everyday’ users. Think about all employees from different departments that will need access to the platform: sales, procurement, finance, and legal. Each one plays an important role in contract lifecycles.
· The number of documents. Conscientiously evaluate the current volume of contract flow in your organization and how many contracts you process. And don’t forget your legacy contracts, because some vendors charge for the amount of documents stored. This number will change, so consider what growth plan you may need. The good news is that some providers offer upgrades to a larger storage size if there’s a demand.
· Types of documents. This is important since it makes it easier for you to choose the features and solution’s necessary capabilities. For example, if you frequently work with large documents and need to quickly process them, it’s unlikely you’ll want a CLM that needs 30 minutes to do it.
· Cross-department collaboration. Usually, there are at least two departments involved in document creation. Analyze how your employees collaborate on contracts, how the redlining process goes, and what would you like to improve.
· Third-party collaboration. Frequently, contracts are negotiated with third parties. Consider how documents are being shared, how access is granted, and how the negotiation process proceeds. Documents may contain sensitive information, so it’s not only about collaboration, but also about security.
· Approvals. Analyze your approval process. It’s one of the longest stages of the contract lifecycle, and usually it involves many people and opinions, making it a real mess. If this sounds familiar, you’ll want a CLM that will allow you to check if all parties have completed their reviews and whose approval is still needed.
· Esignatures. Esignature software allows you to sign documents no matter where the approver is. If you need to add attachments to the contract, such as status information, recipient/sender information, delivery tracking, or signature progress, this service will prove useful.
· Metadata storage. Metadata usually refers to the basic information about a contract so that it’s easier to find and retrieve data. It may be the company name, creation date, document type, governing law, counterparty name, etc. If you work with a wide array of contract types, consider a solution that has the possibility of adding necessary metadata and advanced search.
These are the main things to consider when you decide to switch to a CLM platform. Without knowing a business’ essential needs, you run the risk of ending up with the wrong solution, which won’t make your professional life easier, but harder instead.
Wrapping Up
Every organization’s situation is unique to them, so some of the factors above will play a larger role than others. That’s why when you’re in the process of choosing a CLM solution, you should pay close attention to what’s essential for you.
AXDRAFT strives to respect not only the time of their clients, but also the time of potential clients. The team at AXDRAFT will always be available for consultation and help regarding whether or not certain software is a good fit for your organization. And, no holds barred, we’ll tell you if we’re not the right fit, so that you don’t waste time having conversations that lead to a dead end. But, should circumstances change, our door is always open.
Contract lifecycle management is designed to make your professional life easier, and finding the optimal solution shouldn’t be a hard task. To simplify matters, AXDRAFT will work towards coming up with the best pricing option that works for you. As we can accommodate the needs of any company, we always recommend starting small and scaling later. Should you have any questions, please feel free to reach out whenever is best for you.
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Jul 16, 2020  |   Microsoft Philippines Communications Team
In any firm, big or small, transactions between departments and across functions expose companies to missed opportunities, non-compliance, and even financial vulnerability. At the center are countless documents that carry important information, which are crucial to running a business.
In this era of digitization, most companies still route paper files and manage their compliance manually — practices which are time-consuming, labor-intensive, and prone to errors. Yet as remote work has become the new norm created by COVID-19, document and compliance management through manual means has ceased to be viable.
Championing the digital shift of integral business processes, systems integrator and application developer Paperless Trail Inc. highlights the importance of embracing the “new normal” in doing business. Responding to the difficulties encountered by organizations through technology, Paperless Trail Inc. developed industry-leading solutions that effectively move compliance and document management to the digital space. In the last 10 years, Paperless Trail Inc.’s applications Archive One, Activity Factory, and Go Paperless! have become essential tools for forward-looking businesses looking to spend less time on administrative tasks, and more on high-value work that produces long-term results.
Self-regulation through Archive One
Archive One is a document management software (DMS) that serves as an auditing tool, which seamlessly classifies, stores, secures, and retrieves essential documents. It is particularly helpful in the IT-BPM sector, whose companies usually employ thousands of individuals, therefore giving companies a huge amount of data to track.
Paperless Trail Inc. Technical Director Jay Edades shares, “Human Resources departments have to track and update employee data to ensure each worker’s records are complete when filing taxes or assisting with health benefits and social security claims. They also have to provide relevant information to certain clients about employees working on those accounts. With Archive One, we ease the burden of digitization work and fix the method data for each employee in order to make complete reports.”
Archive One has also been used by the financial sector to audit all information related to a particular transaction. For example, if a client spends P100,000, Archive One can give a breakdown of the transaction along with all the related attachments found in the system. This allows for easy tracking of transaction numbers, voucher numbers and supporting documents to enable the team to account for missing or inaccurate paperwork.
“The biggest impact of Archive One is that it tells executives if the information they have is complete and if they are compliant with standard procedures,” Edades explains.
Remote document routing made easy by Activity Factory
Paperless Trail also deploys Activity Factory, a workflow software that eliminates paper forms and the manual conduct of routing and approvals. It utilizes a checklist system that breaks down the workflow of business-wide operations into concrete steps. Files can be attached to each step in the workflow to signal compliance, and the platform only clears the team to advance once each checkpoint is fulfilled by the designated employee.
Through these checkpoints, businesses can audit themselves by having the software ensure that the paperwork is complete for each juncture in the process. Since it follows a workflow that assigns steps to certain people, it immediately determines where the bottlenecks are in the system and therefore promotes accountability in the organization.
According to Edades, Activity Factory is especially helpful to financial institutions involved in credit and loan application processes, and the manufacturing sector tasked with meeting ISO quality standards.
Go Paperless! for managing countless pages of documents
Complementing the two applications is Go Paperless!, the scanning service brand of Paperless Trail that has become the go-to solution of many businesses of all sizes in the Philippines. It has scanned over 250 million pages to date and offers image conversion to searchable text through indexing for easier information retrieval.
Go Paperless! enables the digital storage of business records and addresses the challenge of storing and retrieving paper-based documents. This, according to Edades, supports companies into going digital as part of their long-term strategy. “Once your records are digitized, you only need the press of a button to access everything you need to run your business. It frees up physical space and gives nearly real-time access to any document that you need,” Edades adds.
AI-Processing and information security
Edades emphasizes that Paperless Trail’s solutions not only optimize business processes and allow teams to work more efficiently, but they also address a key concern among executives: data security.
“We acknowledge that each page contains sensitive information and the reason we built these applications is to prevent hacking, mishandling of data, missing documentation, and mitigate other data security risks. Our programs are built to automate along with necessary safeguards that uphold the information security of our partners,” Edades reiterates.
Paperless Trail’s services are powered by Microsoft Artificial Intelligence (AI) which helps in digitizing thousands of documents daily by extracting text from images and conducting word analysis for contextualizing information.
Edades quips, “Running Microsoft AI together with our own technology gives our solutions a stronger backbone. It also gives us and our clients a solid sense of security especially as we handle sensitive and complex information in millions of documents. We are thrilled to have found a partner in Microsoft as we champion the digitization of compliance and business processes of companies in the Philippines.”
Dec 21, 2022   |   Microsoft Philippines Communications Team
Dec 15, 2022   |   Microsoft Philippines Communications Team
Nov 25, 2022   |   Microsoft Philippines Communications Team
Nov 15, 2022   |   Microsoft Philippines Communications Team
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