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Task automation, incentive software key to win-win business productivity

By February 4, 2014June 11th, 2024No Comments

While it’s been 14 years since the cult classic “Office Space” was released, the satire about the perils of paper-pushing continue to resonate with many corporate workers. In an ideal world, the film wouldn’t resonate strongly with so many viewers, because employees wouldn’t feel like they spend so much of their time on administrative tasks when better technology exists. It’s true that mundane tasks are part of virtually every job, but it’s up to a collaborative effort by personnel and employers to balance the time and energy devoted to routine tasks with that spent on innovation, analysis and development. Without diving too deeply into the impending robot war, it’s worth noting that smart technologies can go a long way in improving task management and performance tracking. Implementing more task automation and flexibility can help propel employees to a more productive time in the office, and incentive software can help personnel track their progress, communicate with management and develop a clear path to performance-based rewards. The benefits of automation In many companies, basic administrative tasks take up more time and energy than people realize. Activities such as data entry, invoice processing, filing and securing document approvals can end up having a reverberating effect on company productivity, wrote Jeremy Plint, Canon Business Services Australia assistant general manager, for Dynamic Business. Not only does it hamper the speed at which employees can complete their central tasks, it can end up restricting productivity further by negatively impacting morale. In one recent survey of more than 1,000 Australian office employees conducted by Pureprofile for Canon, 35 percent of respondents stated that smart tools to automate some of these processes would help alleviate the rise of administrative tasks. The dual benefit of automation and centralized, software-based management is that tasks that have to be accomplished still are, while employees are freed up to concentrate more on the core focus of their position. Designing best-in-class incentive programs While task automation and management programs can improve life for everyone in the office at once, incentive software drives productivity on a granular level. The best incentive programs monitor day-to-day performance and assess it in constructive ways, wrote Moneycontrol contributor Jappreet Sethi. With real-time data and goal-based metrics on hand, management can offer employees constructive feedback as well as merit-based pay levels. This two-pronged approach provides immediate tangible rewards as well as shows employees that the organization is committed to fostering long-term development. For business leaders, integrating management and incentive software into daily operations helps identify top employees and areas of improvement. It’s also the best defense against an “Office Space” culture.

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Ballast Point Ventures

Ballast Point Ventures is a later-stage venture capital fund established to provide expansion capital for rapidly growing, privately owned companies in diverse industries, with a particular emphasis on companies located in Florida, the Southeast, and Texas. The BPV partners have more than 70 years of combined experience investing in and building high-growth companies in a number of industries, including healthcare, business services, communications, technology, financial services, and consumer goods. BPV has $200 million under management and seeks to make equity investments ranging from $3 million to $10 million.

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Harbert Management Corporation

Harbert Management Corporation seeks to generate superior returns for their investors by identifying and investing in the most promising early growth stage companies in the Southeastern U.S. HMC seeks to capitalize on what it believes are compelling regional dynamics, such as a strong and fast-growing economy, significant research and development activities, and an established entrepreneurial community. The HMC team combines substantial investment, advisory, and operating experience with capital and networking contacts to support great entrepreneurial teams in successfully executing their growth plans. With offices in Birmingham, Alabama; Richmond, Virginia; and Gainesville, Florida, it’s well positioned to partner with entrepreneurs throughout the Southeast.

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KBH Ventures

KBH Ventures was an early investor in Iconixx Software. KBH's investment philosophy plays a significant role in the firm's successful track record. KBH believes in running businesses to be cashflow positive and profitable every month. Startups and companies in a startup mode, such as one that has been purchased in distress, are expected to generate revenue within the first six months and reach profitability within the first 12 to 18 months. KBH also only invests in or acquires companies that are in the startup phase or have less than $20 million in revenues. KBH targets technology companies that offer business-to-business services.

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S3 Ventures

S3 Ventures is an early expansion and growth stage venture firm with $200 million under management. It’s focused on information technology solutions that solve large business problems. S3 also invests in medical devices that improve the human condition. S3 invests in category-defining opportunities. It partners with the team and help focus methodically on what it takes to build a successful company. S3 today helps talented entrepreneurs take their technology and market knowledge and form valuable businesses in a repeatable fashion. Investment sizes start at several million or more for Series A, B, and C financing.