The value of customers in the digital age

Contributed by Cigniti Technologies.

The digital age is marked by the advent of technology and its usage to make the lives of customers simpler and convenient. Businesses, by nature and design, is dependent on customers to succeed and the digital age is no different. Rather it has increased the level of competition and given plenty of choices to the customers in terms of access, quality of products and services, cost advantage, speedy delivery, and variety. In fact, the process of digital transformation undertaken by businesses is premised on offering value addition to the end customers. The various technologies leveraged by businesses in this regard include cloud, IoT, AI, ML, predictive analysis, and big data, among others.

In the competitive digital landscape of today, companies that look after the interests of their customers and provide prompt and qualitative support are able to achieve ROI. Any glitch or vulnerability in the product or service can have adverse repercussions on the psyche of the customers. They are no longer satisfied with giving a long rope to the company dishing out shoddy products or service but instead turn to its competitors. No wonder, businesses are adopting software development models like Agile or DevOps to bring out products that are not only qualitatively superior but are customized to the needs of the customers as well.

Digital transformation services are geared towards delivering value addition at cost effective rates. They do so by employing the Agile model wherein the QA process is conducted alongside development. In a move ahead of the traditional waterfall model, Agile helps in the quicker identification of glitches thereby eliminating costly and time-consuming corrections later. Moreover, given the demand for Continuous Integration and Delivery, businesses are looking at the DevOps model where the entire organization is made responsible for the final quality of the product or service. This approach of digital transformation services rightly encapsulates the importance of customers for businesses.

Delivering a better Customer Experience or CX has become the final arbiter for businesses to stay competitive and achieve ROI. It leads to a slew of outcomes such as better customer retention, increased sales, lower cost of customer acquisition, and reduced operating costs. Any digital transformation strategy should aim at leveraging the trending technologies to streamline workflows, innovate, add value, accelerate time to market, and deliver the best customer experience.

How good customer service can help businesses?

The digital transformation solutions implemented by enterprises should be underpinned on delivering good customer service. The benefits of implementing such solutions can be multifarious.

Customer retention: Customer acquisition can be a long drawn and costly affair encompassing running sustained marketing campaigns. However, customer retention is relatively cheaper and requires implementation of a robust customer service. Your digital transformation framework should be able to capture customer queries quickly and pass them on to the right business arm for redressal. Good customer service will help you retain customers, which otherwise can drift towards your competitors in no time.

Word of mouth publicity: Many potential customers are not swayed by the advertising blitz but listen to the feedback from actual users. Thus, if the customer experience is good, the business can gain immensely from word of mouth publicity. Happy customers can help to build trust among your potential customers. Conversely, bad customer experience can leave your customers unhappy, angry, and frustrated. The consequent bad-mouthing of your brand, product or service can be damaging to your reputation and profitability. Remember, bad customer experience can have a greater potential to damage your business’s credibility.

Competitive advantage: How do customers choose one product over the other when both have similar characteristics, quality, and cost? The answer is how well the business developing that product responds to the customer queries and complaints. In fact, customer experience can be the ultimate differentiator for customers to choose a product over its competitor.

Good customer service is better than price: A successful enterprise digital transformation should deliver good customer service. It should ensure the product or service functions to its optimum level in its end-to-end development cum delivery cycle and beyond. Remember, customers are willing to pay a premium for good quality service even positing it ahead of cost.

Conclusion

Customers stay at the core of every business and drive them to adopt new technologies, streamline their workflows, make their delivery systems hassle-free, and enhance their customer service. No wonder, every digital transformation initiative should be geared towards ensuring better customer experience.

How to Prevent Costly Financial Reporting Mistakes Align processes, systems and people to ensure compliance and peace of mind

Written by Sridhar Kuppa, CPA, MBA | Director, Transaction & Regulatory Advisory Services @ SolomonEdwards

Flawed financial reporting is an all too common quandary for accounting and finance teams at companies of all sizes. From an incorrect figure on a cash flow statement, to an overlooked deadline, to technical glitches and misunderstood regulations, opportunities for error abound.

Despite the risk of potential negative market reaction, government inquiries, investigations and enforcement actions including civil and criminal penalties, many companies continue to struggle to release consistent, accurate financial statements.

What are the root causes of reporting errors?  Inadequate processes, faulty systems and human error. Shoring up these deficits – and aligning them to function holistically – can prevent missteps and their painful repercussions.

Inaccurate financial reporting is a slippery slope. What starts as a small blunder can cause steep consequences. Mistakes take a toll on everything from a company’s reputation to its ability to raise capital, and could even cause a drop in share price as shareholders lose confidence in the organization’s ability to produce accurate reports. Errors can sour lenders on financing critical projects or cause discord with a potential merger or acquisition.

What causes accidental financial reporting errors? While the markets are tracking the company’s value and performance, regulators are watching for compliance with Generally Accepted Accounting Principles (GAAP). Accounting and finance departments are under great pressure to keep up with a dynamic regulatory landscape while minimizing costs. This can cause issues when preparing and presenting financial statements, from revenue and expense recognition problems, to faulty valuation, missing or insufficient disclosures, and other failings.

Legislative and regulatory confusion. As regulations evolve, companies need to understand new rules, requirements and deadlines to ensure U.S. GAAP compliance.

Human error and outdated technology. In an era of new and improved technology and modern models of accounting, many mistakes can be systematically avoided. With the widespread implementation of rapid, adaptable, efficient and customizable technology solutions, it is no longer necessary to manually extract data from multiple sources using antiquated technology.

The solution: Align processes, systems and people. Companies can avoid errors by evaluating, upgrading and fine-tuning processes and systems and putting the right people in place. Set a plan in motion now so you can reduce the risk of costly mistakes. Learn more by reading the full article here.

Sridhar Kuppa, CPA, MBA, is a Director in the Transaction Regulatory and Advisory Services Practice at SolomonEdwards. He helps clients identify problems and find strategic solutions in accounting, financial planning, analysis, and reporting.

Are you ready to evaluate a new Cloud ERP system?

The cloud enterprise resource planning software market is becoming crowded, with several available options from multiple vendors. Not every platform meets the needs of all companies, and selecting the right solution is an important decision.  Learn how to evaluate critical aspects of available platforms to support your unique needs in this “Cloud ERP selection guide for the middle market.”

The guide details how to:

  • Avoid common challenges
  • Create your ideal ERP selection checklist
  • Understand current ERP trends
  • Compare today’s cloud ERP platforms (such as Microsoft Dynamics 365, Oracle NetSuite and Sage Intacct)
  • Choose an effective implementation partner

Read full post.

CompuData Joins Citrix Ready Partner Program

For media inquiries, contact:
Deborah Pfeiffer

215.969.1000 x266

 CompuData Inc Cloud Platform

 IS VERIFIED AS CITRIX READY

CompuData Verified as Citrix Ready Partner to Deliver Cloud Technology Platform Solution

Philadelphia, PA – October 1st 2019 – CompuData, a leading Business Technology Company focusing on Cloud Hosting, ERP Solutions, IT Security and Managed IT, announced today that they joined the Citrix Ready Partner Program with their CompuData Cloud Platform from Citrix Systems, Inc. (NASDAQ: CTXS).

“CompuData is a leading Cloud Service Provider ,” said Ed Guarrieri, CompuData’s Vice President of Technology. “The acceptance into this program demonstrates our ability to offer reliable and functional cloud solutions that utilize Citrix technologies to their fullest potential. Our internal expertise combined with Citrix’s market-leading solutions enables our customers to streamline their workloads into one single pane of glass, while maintaining security and reliability.”

The Citrix Ready partner program makes it easy for customers to identify complementary products and solutions that are powered by Citrix technologies. Customers can be confident that Citrix Ready partners have a verified technology stack and provides reliability and functionality. The CompuData Cloud Platform has successfully passed a series of tests, established by Citrix, certifying their cloud stack and solutions architecture. 

 We have built our cloud platform around Citrix technologies from the start. The solutions we offer today could not happen without the software technologies provided by Citrix, said Guarrieri. We listen to our customers, and what they want is a hybrid cloud solution that does not sacrifice security and user experience.

The CompuData Cloud Platform gives customers the flexibility, scalability and security required to power a modern business. With a 99.99% uptime guarantee, bicoastal datacenters, and a dedicated Citrix certified support team; business-critical operations are always protected and available. For more information please visit the Citrix Ready Marketplace: https://citrixready.citrix.com/compudata-inc.html

About CompuData, Inc.

CompuData is a Women Owned Business Technology Company and Partner for Cloud Hosting, ERP Solutions, IT Security and Managed IT Services. With nearly five decades as a business technology innovator, CompuData offers an unparalleled spectrum of Accounting Financial Software and IT solutions that are fundamental to business operational growth, efficiency and profitability. Helping businesses transform their operational flow and infrastructure to offer more a flexible, scalable and secure environment through our exceptional people and strategic processes. For more information, visit CompuData.com or call 800-223-3282. Follow CompuData on social LinkedIn, @CompuDataInc and Facebook.

PACT Capital Conference 2019 Concluded with over $500,000 in Startup Funding

PACT offered insights and opportunities for 1,000 attendees to succeed through collaboration, inclusion and access

PHILADELPHIA – September 30, 2019 – Philadelphia Alliance for Capital and Technologies (PACT) announced the results of the PACT Capital Conference 2019. After a full day of keynotes, featured company pitches, pitch sessions, an exclusive showcase and panel sessions, close to 1,000 attendees walked away with key insights, new connections and (for some) large amounts of investment commitments. After a full day of pitching, three companies were chosen from more than 40 featured company presenters to enter PACT’s inaugural Lion’s Den. Triple Bristle, Simply Good Jars and TrekIT Health pitched their innovations once more live in front of the conference audience to five highly successful entrepreneurs. Simply Good Jars received $350K and Triple Bristle received $225K from multiple Lion Investor commitments.

“A little over a half-million dollars in a little over an hour is not bad at all,” excitedly expressed Lion’s Den Moderator and NewSpring Capital General Partner, Marc Lederman, at the session’s conclusion. “We were thrilled to welcome David Adelman, Jonathan Brassington, Anthony Bucci, Katherine O’Neill and Richard Vague as our Lion Investors and we thank them for their outstanding commitments,” added Dean Miller, President & CEO of PACT.

The 2019 PACT Capital Conference offered exciting elements hyper-focused on company pitches and the relationships between investors and entrepreneurs. Among the attendees, an increased number of investors from all over the country (more than 50 from out of region) and pitching entrepreneurs from different parts of the globe joined the program. PACT hosted pitches from more than 40 featured companies; an exclusive showcase of Trice Medical (a successful mature-growth company); and 13 pitches from Social Impact, Student-Led and International entrepreneurs. The healthcare and technology tracks centered on everyday analytics for entrepreneurs, investing in healthcare startups beyond the seed-stage, and exploring the LP/GP relationship. Additionally, investors and entrepreneurs connected one-to-one in curated business meetings through the 2019 mobile app. All attendees were invited to take advantage of the PACTcapcon Co-Working Lounge, a quite space to work, answer emails, and take calls.

“Together with our 2019 Host, Duane Morris, we share a passion for Philadelphia, entrepreneurship and investment. Last week showcased our strengths on all fronts and in particular for a growing number of out-of-towners,” explained Dean Miller, “Our Conference Steering Committee’s contributions were many and showed in the execution of so many details.”

This year’s conference also featured keynote remarks from regional and national leaders: Natalie W. Nixon, PhD, President for Figure 8 Thinking, LLC, Creativity | Strategy | Innovation, and Brian Westbrook, Former Running Back for The Philadelphia Eagles, Investor for SeventySix Capital. Sal Paolantonio, National Correspondent for ESPN joined Brian onstage for a Q&A Session followed by a meet and greet with the former Philadelphia Eagle and fans.

To learn more, please contact Amanda Nardi Di Filippo at [email protected] or by phone at 609-790-6206. You can also learn more by visiting the conference website www.pactcapconf.com, Linkedin, Twitter (@PhilaPACT), Instagram and Facebook.

History of the PACT Capital Conference
The PACT Capital Conference has a long tradition of uniting key players from the private equity, venture capital, and entrepreneurial communities. This day-and-a-half event offers both sponsors and attendees access to emerging companies from the Mid-Atlantic region, networking opportunities with the movers and shakers from the community, and educational panels and content sessions. As the oldest and most established venture conference in the Northeast, this conference draws more than 1,000 participants each year. It stands as the catalyst for billions of dollars in venture funding and entrepreneurial success. www.pactcapconf.com

About PACT
PACT’s vision is to be the go-to resource for fast growing companies, and a driver of entrepreneurship and innovation in the Philadelphia region. PACT provides its members with valuable content and connections to capital, coaching, and customers that will accelerate their growth and success, and to collaborate with other organizations to drive innovation and entrepreneurship in the region. www.philadelphiapact.com

Media Contact:

Amanda Nardi Di Filippo

609-790-6206

[email protected]

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QUAD656, Delaware Valley’s Top Recruiting Firm, Joins SolomonEdwards

SolomonEdwardsGroup, LLC (SolomonEdwards), a national professional services firm headquartered in the Philadelphia region, announced that QUAD656, a leading staffing company in the Delaware Valley with offices in Wayne, PA and Mt. Laurel, NJ, has joined the firm. QUAD656 adds the largest tenured recruiting staff in the Greater Philadelphia Region with 75 team members, including a team of interim professionals on assignment, search consultants, and a temp services sales team that support a growing demand for talent across multiple disciplines in a labor constrained market.

Since 2001, QUAD656 has been recruiting and placing top talent across multiple disciplines, adding recruiting strength and a robust client base to SolomonEdwards’ existing portfolio. In return, the QUAD656 team benefits from SolomonEdwards’ infrastructure in Marketing, Salesforce automation, IT, and HR administration.

“We are excited that QUAD656 is now part of the SolomonEdwards family, and we are delighted to have all four of the Founding Principals – Randi Goltz, Lori Marcus, Sheila Matthews and Patti Zajick – join the team.” “QUAD656’s owners and I have known each other for almost 30 years, having worked together at my previous company – Acsys, Inc.,” said Ed Baumstein, Founder, President, and CEO of SolomonEdwards. “I believe that ‘who’ you bring into your business is about having a common vision, a great cultural fit and business benefits for all involved parties. I am extremely confident that SolomonEdwards and QUAD656 align on all three areas and are equally focused on bringing exceptional talent to the marketplace.”

QUAD656 adds both clients and exceptional talent to SolomonEdwards’ expanding national practice. 

“QUAD656 will immediately benefit from a motivated parent company with the infrastructure and resources to help grow the business,” said Sheila Matthews, QUAD656 Co-Founder and Principal. “Joining SolomonEdwards has already proven to be a catalyst for fresh thinking and an energized approach that will accelerate growth and market leadership.”

To learn more, view the following:

CompuData Receives Certification as a Woman Owned Business

Woman Owned Business Certification Provides Added Advantages to CompuData Customers

Philadelphia, PA – CompuData, a leading Business Technology Company focusing on Cloud Hosting, ERP Solutions, IT Security and Managed IT; today announced they have received certification as a women-owned business by the Women’s Business Enterprise National Council (WBENC).

“We are delighted to receive the certification from the WBENC,” said Angela Nadeau, CEO and President of CompuData. “This certification strengthens our business relationships with our customers by providing value diversity that will open new opportunities to serve them better.”

To receive certification by WBENC, a company must go through an in-depth review and a corporate site inspection. The review process confirms that the company meets all of WBENC’s rigorous eligibility requirements. The requirements focus on female ownership, high-level control, and management of daily operations.

 “Many of our mid-size customers serve large corporate customers that have diversity initiatives.   Our WBNEC and WOSB certifications will help those customers reach compliance.  In addition, we hope to expand our base of customers in industries that require certain regulations for submitting contracts,” said Nadeau. “This certification will open our solution portfolio to new larger clients and allow us to better serve existing customers across our spectrum of ERP and technology solutions.” 

CompuData has provided business technology solutions since 1971 and is currently 100 percent women owned.  Being certified as a Woman Owned Business allows CompuData to fulfill their customer’s business needs while simultaneously addressing their diversity requirements.

The WBENC is the leading third-party certifier of businesses owned and operated by women, with more than 12,000 WBENC-Certified WBEs. WBENC certification is accepted by more than 1,000 corporations representing America’s most prestigious brands, in addition to many states, cities and other entities. WBENC and its 14 Regional Partner Organizations provide numerous opportunities for interactions between more than 650 member corporations, government agencies and thousands of certified WBEs at business building events and other forums.

About CompuData, Inc.

CompuData is a leading Business Technology Company and Partner for Cloud Hosting, ERP Solutions, IT Security and Managed IT Services. With nearly five decades as a business technology innovator, CompuData offers an unparalleled spectrum of Accounting Financial Software and IT solutions that are fundamental to business operational growth, efficiency and profitability. Helping businesses transform their operational flow and infrastructure to offer more flexible, scalable and secure environment through our exceptional people and strategic processes. For more information, visit CompuData.com or call 800-223-3282. Follow CompuData on social LinkedIn, @CompuDataInc and Facebook.