PART 1: TagMyDoc and professional accountants in business

Accounting and digital age
For several years now, accounting departments use many software to improve efficiency. The different technologies allow them to reduce their margin of error, to be more productive and especially, to focus on more important tasks.
Contracts, budgets, financial statements, analytical files and other documents of the same type are created and revised many times. Also, some documents serve as a 
                                                     "template" and are reused.

The creation of multiple documents and versions must be managed by a software to avoid problems.
Microsoft Office is used by the vast majority of businesses. Here is an example for professional accountants in business to illustrate the benefits and the added value of TagMyDoc:
An organization prepares annual budgets and forecasts, the preparation is generally made by the VP Finance team.
  • The controller sends to the rest of the team the first version of the budget. The document is saved with the TagMyDoc application.
  • The VP Finance decides to make some changes after meeting with the management team.
  • The controller decides to continue his work and when he opens the same document, the TagMyDoc application warns him that the #1 version of the budget is now out of date. With only one click, he can automatically get the latest version made by the VP Finance.
  • The VP Finance decides to present the budget to senior management and different departments. Once he opens the document, he instantly sees that his version is outdated and retrieves the most up-to-date information before his presentation.

Isn’t it expensive for an organization to present an incorrect budget line to a department?
No matter where employees have saved their changes or retrieved their copy, whether on the corporate network, in their personal folders or their emails, TagMyDoc warns them if there is a conflict and works for them to prevent costly errors.

With TagMyDoc, all employees of each department possess the most up-to-date information without wasting time and without changing the way they currently work!

TagMyDoc and Dropbox: different but complementary?

Nowadays, electronic document management is becoming more present within companies in order to facilitate communication between the various internal and external stakeholders and improve employees’ productivity. However, it is important to differentiate document management software in order to identify which one could lead us to optimal results.

The Dropbox application, for example, is a storage service and a very useful data sharing tool which is currently the most popular one. This application allows the saving of files of all types. It prevents from always looking through email attachments to find documents or forgetting to carry your USB key. However there’s a drawback that can alter its performance. Dropbox forces you to work a certain way: a badge is required to trace your document so you absolutely have to save and open your document directly from Dropbox. Therefore, if you simply save your documents in your personal folders, it would be difficult for you to find them.

Of course, several hours can be spent organizing files in Dropbox. Furthermore, if a lot of people are working on the same document, multiple copies will be created which means that finding the right document becomes a challenge. Users can also save their documents in the wrong folder. How many hours will be wasted by doing this classification and trying to find the latest version of your document?

Dropbox doesn’t eliminate the proliferation of files.

The essential aspect of document management is to follow the different versions of a document and to be easy-to-use.

In this type of situation, TagMyDoc is a strong ally to help resolving the problem of documents duplication. You can still continue to use Dropbox while using the TagMyDoc application: it won’t change the way you actually work, it will actually improve it. Plus, TagMyDoc transparently integrates your actual tools so you won’t waste your time learning a new system! TagMyDoc is indeed a complementary tool. Furthermore, this application is unique, by alerting you when you are about to work on out-of-date content. As soon as you open your document, you will instantly know if it’s the most up-to-date document, wherever it’s saved. Even if you have kept the version of your document on Dropbox, if it’s saved with TagMyDoc, you will access the right information!

Lastly, enhancing document management in your organization allows you to be more efficient and put energy on real specific priorities while reducing the heavy workload and redundancy of administrative tasks. These unproductive tasks can only lead to a waste of time and to risks of errors! It’s simple: without TagMyDoc, you can’t say that your document management system is optimized!

PART III: Goodbye, document disconnect

Now that you know what the document disconnect is and how TagMyDoc helps to avoid this problem, here are some recommendations and best practices taken from the IDC study that will help you implement a strategy in order to be more effective in your document management.

Recommendation # 1
First, you must identify the processes that are prone to problems. To do this, you can interview business leaders and their teams to identify gaps in the document management process.

For example, you can ask your employees or colleagues some simple questions: How many times in the past month have you been working on the wrong version of a document? Or how much time per day do you spend searching for the right version of one of your documents?

Now that you have identified where your document processes generate miscommunications between your systems, you’ll need to determine the most sensitive areas of these processes. In other words, you will have to find out where a mistake costs you a lot and where the ROI of implementing a solution is the most profitable.

Recommendation # 2
Let technology help you but choose carefully. According to the IDC study, a good solution should have the following characteristics:
  • Integrates with existing processes and systems
  • Is intuitive and easy for customers and employees to use
  • Is simple and rapid to deploy and manage
  • Adheres to industry safety standards
  • Is developed by a trusted provider
Does it make you think of something? ;)

The time for action
Nowadays, it is important to capitalize on business processes to gain a competitive advantage over industry rivals. Organizations must address their shortcomings both in the front office (what the customer sees) and the back office (internal processes). Still according to the IDC study, settling the question of document disconnects brings considerable results:

Cool, but I'm already using Google Drive...

Google Drive and Google Docs are great tools, but they fail to solve one of the great problems brought on by the multiplication and proliferation of digital files. In fact, they exacerbate it.

With more and more versions of the same document moving around Google Drive and everyone organizing, naming and filing collaborative documents following their personal method, finding the latest version of a document becomes a tedious and costly process that prevents you from getting your work done.

Of course, you can implement a filing method, but humans are notoriously fickle. You can give people a protocol, but you cannot be sure that they will follow it.

The problem becomes even worse when two corporations collaborate:
  1. There are now two different official filing methods
  2. The “human factor” risk is doubled, because the more people work on a document, the greater the risk of documentary disconnection becomes.
It is well known that the best way to manage people, is to let them believe they aren't being managed. And this is the driving concept here at TagMyDoc

So What’s TagMyDoc?

Whenever we try to explain “what is TagMyDoc” we get asked the same question: what’s the difference between your app and Google Docs, and incidentally Google Drive?

The question is valid. After all, TagMyDoc is a collaborative and cloud based tool. While these aspects are essentials, they aren’t what makes TagMyDoc unique on the market.

TagMyDoc has been conceive to be seamlessly integrated with your method of work, so that you don’t have to change it. Open any copy of any version of the document, and voilà you have access to the information you need. It doesn’t matter if your colleagues named the document differently or misfiled it on Google Drive and even if it was saved on another device. As long as the document is tagged you will be able to access the latest version.

Think about our patented technology as a tracking chip for your documents that lets you know if the copy you have opened contains the latest changes as well as giving you the possibility to retrieve them with a simple click. Stop wasting time searching through your Google Drive in order to find the latest version of the document.

With TagMyDoc, just start working.

Managing the document disconnect - Part II

PART II: Managing the document disconnect with TagMyDoc

In the first installment of our post on the document disconnect we explained the phenomenon and its cost.

We will now list some of the problems identified by the IDC report, that businesses face and how TagMyDoc can help solve them.

With TagMyDoc, your documents can be accessed using any device and the information you need will always be the right one, even if it changes at the very last minute.

Take the example of John, who works for company X.

This morning John has a meeting with a client to submit an offer. Earlier this morning, the price for a commodity changed. John’s coworker Sacha changed the price on his version and emailed it to everyone, but John was already at the meeting. Now, if John did not have TagMyDoc, he may have not presented the right information to the client. But John has TagMyDoc and when he opened up the contract to present it to his client, he had access the new version, since it had been secured with the TagMyDoc technology.

Now let’s say John only has a hard copy of the contract, what would happen? With the Validating Tag, which will have been place on the contract, John could use his phone to verify if the hard copy he has with him, still contains accurate information and if need be, bring the changes he was not aware of.

Now let us say that John simply e-mailed the document to his client, but sent the wrong version of the file because his desktop looks like this:

Considering that your document now carries the TagMyDoc tag, your collaborators don’t have to be using the same applications or document management system to access the information you want them to have. No matter how much the document travels around or is modified by others, everyone will always have a way to access the latest version of it.

It does not matter if you, your collaborators or your clients are using a computer, a tablet, a phone or a hard copy, as long as you have an internet connection,  everyone will always be on the same page!

Try TagMyDoc Now for Free!