Connect with us

Politics

How an Intranet Will Consolidate Multiple Disparate Software Applications – ReadWrite

Published

on

Frank Landman


The average employee uses between 10 and 20 individual software applications throughout the course of their day. This makes sense considering modern businesses run on software. However, using too many individual applications stifles productivity by wasting time, which subsequently wastes payroll dollars. For instance, employees use separate applications for the following tasks:

  • Time tracking
  • Customer Relationship Management (CRM)
  • Email marketing
  • Shopping carts
  • Email
  • Direct messaging with team members
  • Video conferencing
  • Invoicing
  • Document storage
  • Client communication
  • Knowledge base
  • People directory
  • Document collaboration
  • Announcements
  • Accounting
  • Scheduled appointments
  • And more

When teams are required to use all of these applications separately, productivity suffers. Using applications that combine multiple features will strengthen productivity, especially for remote teams.

Increase productivity by using fewer applications

Using fewer applications will increase productivity, but that doesn’t mean you need to stop using the features you need. The ideal solution is to find software applications that provide multiple functions. For example, many popular CRM software applications provide email marketing, sales process management, a shopping cart system, and more.

Similarly, there are company intranet solutions that combine communications needs. One of those solutions is Happeo. Happeo is an internal collaboration platform that allows teams to work productively in a secure environment. The platform combines many functions like document storage, a knowledge base, a people directory, announcements, and document collaboration.

Many useful features not native to Happeo can be plugged into the network using integrations. For example, Happeo integrates with Google Workspace (formerly G Suite), which gives teams access to Google Workspace features from within the intranet, eliminating the time required to switch between applications to perform tasks.

If you haven’t implemented a company intranet like Happeo, you’re missing out on a massive increase in team productivity.

How does an intranet increase team productivity?

An intranet increases team productivity by improving communication and engagement, maintaining mobility for your remote workers, and supporting better collaboration. In other words, an intranet mitigates the challenges that halt productivity, especially for remote workers.

The most significant impact comes from the reduction of applications used throughout the day. For instance, when a team member has to switch from one application to another, it could take anywhere from 30 seconds to a couple of minutes, depending on where the application is located and what steps are required to log in. If multi-factor authentication is required, it could take up to five minutes.

A few minutes here and there doesn’t seem like a big deal, but those minutes add up quickly. If a team member uses ten separate applications that take one minute to switch between, and they use each application twice per day, that’s twenty minutes wasted just switching between applications. That adds up to 3.33 hours per pay period per employee. For a team of 15 employees, that’s 50 hours per pay period wasted.

What are the benefits of increased productivity?

Aside from the obvious increase in ROI, productive teams offer many benefits to their company, company clients, end users, and other team members.

Productive teams make their companies look good

Productive teams get results that get companies noticed. Companies that build a positive, in-demand reputation based on their high-quality work are seen as leaders in their industry.

In the corporate world, many companies are on strict client deadlines that aren’t always realistic, but productive teams get pretty close to the goal. On the other hand, unproductive teams won’t be anywhere near the goal when the deadline hits, and they usually have to do plenty of apologizing to their clients. This drastically reduces the client’s potential to recommend that company to their colleagues and friends.

Productive teams create and manage expectations realistically. They can estimate the time it will take to complete a project, including accounting for inevitable breakdowns. This means they’ll have an easier time meeting client expectations because a productive team will set those expectations correctly from the start.

Productive teams make end users happy

Productive teams tend to produce better quality work, which makes end users happy. For example, end users don’t want to start using a new software application only to find a bunch of bugs that should have been taken care of prior to release.

Part of what makes a team productive is a lack of unnecessary back-and-forth to solve problems. Productivity stems from efficiency, and efficient teams handle issues as they arise to full completion.

When a team completes a project designed to be used by end users beyond the client, there’s no room for sloppy mistakes. The client will be held accountable by their end users for anything that goes wrong even though it’s not the client’s fault.

Only a productive team can produce a project that will make end users happy.

Productive teams create happy clients

Productive teams get their work completed on time and in full to deliver stellar projects to clients. When clients are impressed with high level work that gets delivered on time, they’re happy.

Happy clients matter because they are likely to order more work and refer your products and services to others.

An intranet will reduce your operating costs

How many different software applications are you paying a monthly fee to use? Considering most popular software applications are subscription-based, you’re likely using at least five—and that’s a conservative estimate. If access to each software application costs $20 to $100 per month, that’s $100 to $500 per month (or more if you use more apps) that you may not need to spend.

Using an intranet can help you combine many of the software fees you’re paying unnecessarily to separate entities. Your teams will need time to adapt to new software, but once they get going, they’ll find it easier to use an intranet for everything.

Don’t let the subscription model drain your software budget

Every company wants the best software for their teams, but that doesn’t mean you have to buy the most expensive software on the market. You may not even need some of the features offered by some software applications.

The subscription software market is big. Digitalist Magazine projected that by 2022, 53% of all software sales will come from subscriptions. For most companies, there’s no way around buying subscription software. While an intranet will combine many disparate software applications for you, it won’t replace every subscription software you need. That’s why it’s important to take stock of your current applications to see if you have overlap with your intranet and if not, start looking for a cheaper option.

Don’t drain your budget by thinking you need to buy a subscription to every popular application on the market. There are other options, even some that don’t require a monthly fee. It’s hard to find, but there are software developers who sell their applications for a one-time fee.

However, when it comes to getting a cloud-based company intranet, you’ll probably need to pay a monthly subscription fee. Although, you’ll be saving money by condensing the number of applications you use, so it’s worth every penny.

Company intranets are the future of productivity

Corporations have been using intranets for decades to provide teams with information, files, training materials, and ways to communicate. Until recent years, intranets were largely hosted on-premises on the same server that ran the company network.

Although many companies still utilize on-premises servers to manage private, secure networks, cloud-based intranets are the future. The enterprise collaboration market is expected to grow from $31 billion (2019) to $48.1 billion by 2024.

If you haven’t implemented an intranet for your teams, it’s time. Businesses are rapidly moving to a remote team structure, and an intranet is the best way to keep remote teams connected and productive.

Frank Landman

Frank is a freelance journalist who has worked in various editorial capacities for over 10 years. He covers trends in technology as they relate to business.

Politics

Fintech Kennek raises $12.5M seed round to digitize lending

Published

on

Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

Continue Reading

Politics

Fortune 500’s race for generative AI breakthroughs

Published

on

Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

Continue Reading

Politics

UK seizes web3 opportunity simplifying crypto regulations

Published

on

Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

Continue Reading

Copyright © 2021 Seminole Press.