7 Decisions that can lead a company to bankruptcy

Managers face  each day important decisions for the direction of business. Nowadays, there are tools like Multipeers that help managers take a more global and comprehensive view of the real state of the business, which has a very significant weight for more conscious decision making. However, deciding always involves risks and there are decisions that can lead a company to go bankrupt. In today’s article, we cover the 7 decisions that can compromise the survival of a business.

Going for a new investment without analyzing the market

If you want to start a business or if you want to invest in a new product or market, it is mandatory to study the market, its needs and characteristics. A bad investment can ruin a business. When a company invests in a new area, it tends to use its monetary and time investments into this area, eventually neglecting other sectors of the business. If this bet is not successful, it may jeopardize the viability of the business. A thorough and detailed analysis should be done before moving on to new projects.

Do not listen to the customer

The customer is very important to the success of a business. Without customers, business does not make sense. Therefore, the company must take into account the needs of the customer and must be available to listen to their criticisms and suggestions. Many companies make the mistake of thinking that the sale concludes at the time of purchase. The truth is that after-sales service is very important (more and more!). And the customer likes to feel accompanied even after the purchase.

Do not invest in marketing

Marketing tools are essential for every business that wants to stand out in the market. With the evolution of digital marketing, it is increasingly important that companies invest in marketing actions that capture the attention of potential customers. Nowadays, a company that does not exist online is almost as if it did not really exist. That is why marketing should be viewed as a strategic business vector.

Lack of planning

Many companies do not plan their actions and prefer to go on acting as situations arise. This is a decision that can seriously compromise business success. Companies should plan in the short and long term and should have alternative plans if the chosen strategy doesn’ work. Having a good planning is to avoid unpleasant surprises and is to always be prepared for unexpected situations.

Fail to keep up with market changes

Even companies that have been in the market for many years should always be attentive to market trends. Over the years, consumers’ behaviors and habits change, and businesses must be prepared to change with them. The company must adapt its product/service to the needs that the market is presenting because only in this way will it be able to stay in the “fight”.

Do not invest in the right tools

Often companies don’t want to invest in management tools because of their price but end up paying a higher price because of the lack of information and the clutter that sets in the business. Many tools mean greater efficiency and market knowledge, which brings innumerable advantages to the company. A solution that is increasingly needed and used in companies is Multipeers, which allows you to analyze your business in real time through a dashboard that aggregates all information from the various sources of data that exist in the company.

Do not innovate

Innovation should be seen as a strategic tool in companies. A company that has been stagnant for years has nothing new to offer the public. In a time when business competition is so “tight”, it is critical that companies have a person responsible for the part of the innovation, because only then will they be able to offer more value to their customers.

 

5 common mistakes in information management you need to eliminate right now

Information is the most valuable asset of companies. With each passing day, companies store more data that needs to be addressed to provide the inputs needed for effective and informed decision-making. When the information is not well treated and analyzed, the more likely the company is to make the wrong decisions that will undermine its functioning. Thus, it is essential to know how to deal with the information and it is necessary to eliminate all the barriers that prevent the good treatment of the data. In today’s article, we present the 5 most common errors in the treatment of information you need to eliminate right now!

Error # 1: Working without Goals

In today’s business world, which is so competitive, it is very important that companies set general and specific goals, because only then will they know what strategy to follow in order to achieve the desired results. Each employee must work with specific KPI’s that are appropriate to their function, because only in this way will they be able to evaluate the data and transform it into useful and beneficial information for the pursuit of their work.

Error # 2: Fail to keep pace with rapid technological change

Today, technology is evolving at breakneck speeds, making companies constantly face the challenge of being up to date constantly. Nowadays, real-time analysis is already a reality in many companies. If it was enough years ago to know what was happening in the company a few days after the events, today this reality is completely changed. Analyzing business information in real time is the first step (and we can risk saying that it is the most important) to be able to decide consciously and effectively. Many companies still make the mistake of basing their reporting on a few days. Systems like Multipeers are becoming more and more indispensable in today’s business world.

Error # 3: Give the same access to all employees

This error is linked to information security, which is one of the most important aspects, but that companies still do not pay attention to this. Company information should not be accessible to all employees in the same way. Each employee must have access only to part of the information they need to perform their work. This will allow the collaborator to focus more easily and, at the same time, will allow to discover the origin of an eventual leak of information.

Error # 4: Do not back up the data

It seems like a very basic advice, but unfortunately many companies have not yet implemented a serious backup policy. We live in an increasingly connected world and with more and more virtual threats. Therefore, it is essential that you be prepared for any situation that could put the security of your information at risk. These days, putting a security password in your most important files is no longer enough. Making backups of data frequently is a critical step in ensuring that you will not lose sensitive data of the utmost importance. In addition, it is advisable to use a disaster recovery system such as RAAS. Disaster recovery should be regarded as a must have in companies as it is the guarantee that the most important information of the company is safeguarded and that the company will continue to function properly even when computer problems happen.

Error # 5: Create complex reports

The tendency of managers is to create reports with many pages and complex terms that make it difficult to analyze them. The ideal is to make short reports that contain only the information essential to making the right decisions for the business. Create appealing and easy-to-read graphics because through these elements it will be easier to convey your message and better understand the data. If you complicate too much the presentation of the information, it will discourage the employees who have to make their analysis!

 

How to set challenging and realistic business goals?

Knowing how to set business goals is the first step to a successful path. When we have a defined goal, it is much easier to design a strategy and define what actions are necessary to achieve our goals. Any business needs established goals, because it will be based on them that the whole performance of the company is defined. Unfortunately, many managers do not understand the importance of business goals and start working without having a plan. This is one of the main reasons why companies often do not survive. Business objectives provide a lot of information about the company and to that extent make decision making more efficient and easier. Managers often complain about the lack of information about the company in order to be able to decide consciously and these performance indicators gain a prominent role in making decisions about the future of the company. Managers can only make assertive and sound decisions if they have a full knowledge of the business reality, so it is essential to monitor the fulfillment of the objectives in real time. And nothing better than KPI’s to provide all that knowledge. In today’s article, we leave you some important tips for setting challenging and realistic business goals!

Be specific

The more specific a goal is, the easier it is to find actions to achieve them in a short amount of time. Business goals should be simple, so it is much easier to manage them. An example of this goal is “updating the website quarterly”, which is easy to understand which means updating the website in January, April, July and October. A business goal that says “increase the number of proposals sent” is very vague and gives us no clue as to what we should do to reach it. Thus, it is preferable to use a goal that says “get 3 new customers per month”. It is a much simpler goal and it tells us the time interval. Business goals should be simple, so that the entire team is able to understand them. If you get too complicated, you risk not being able to extract any useful information from your analysis. And if the employees do not understand the indicator can be unmotivated, which harms the whole performance of the company.

Be realistic and objective

We all want to be the greatest entrepreneurs in the world, but there are obstacles that go with that and we have to have that awareness. When you set business goals too high, the risk of falling is much greater. And as the goals are harder to reach, you will be frustrated to realize that you cannot achieve them. You must set realistic goals that are appropriate to the reality of your business. If you do not have a great investment capacity at the moment, you will not be able to define as a business goal to increase the team by 10 employees. Business goals must be established according to the reality of the company at the moment, since only then will it be able to achieve them.

Set rigid deadlines

When there is no deadline for accomplishing a particular task or goal, it is more likely that it will drag on in time and eventually be forgotten. It is essential that you set a deadline to achieve a particular business goal, because only then will you be able to define a timeline and assign necessary actions over time. The stated deadline should be like the business objective: specific and realistic. It should not set too short or too long a deadline, as both cases may cause demotivation on the part of those responsible for achieving the objective.

Do a regular review of business goals

Business goals should be reviewed regularly and should be adapted as the changes are verified in the company. Long-term business goals should be monitored so that you can verify that all the actions required to comply are being carried out. Business goals are not static and it is not mandatory that they remain unchanged. Whenever necessary, you should change and update them, and in more extreme cases, you can even eliminate them if you find that they no longer fit the way the company works. A goal that yesterday was quite important, today may have lost some of its importance. Companies are living and dynamic organisms and as such changes must be monitored in all areas of the company. Evaluate at least every three months whether the indicators that have “assets” are the most appropriate given the period the company is going through. However, care must be taken not to make the mistake of changing or eliminating business goals just because it is difficult to achieve them.

 

Decision-making tools that will help your business grow

A manager has to make decisions constantly and it is not always easy to make the right decisions for the growth of a business. Nowadays, there is more and more information in companies and the data generated daily is an added value for decision making, but managers need to be accompanied by the right tools to extract the real value of that data. In today’s article, we introduce you to decision-making tools that will help your business grow!

Multipeers

The day-to-day of a manager is quite busy and it is humanly impossible to keep up with all the situations that happen in the business. We live in an age when we are “bombarded” by data from all directions! It is very important to have a real-time business monitoring system as it allows you to set business alerts so that you are advised whenever any important situation requires immediate intervention. Multipeers is a BAM system that allows you to define business alerts that warn you whenever a situation requires your attention. In this way, you will always be aware of the events of your business and will be able to decide in good time. Many of the decisions are made based on reports a few days late, which makes the company have a reactive and non-proactive action. With Multipeers you can always be ahead of the competition, since you can have a single dashboard all the information generated by your company!

Cloud Storage

Mobility is a growing trend and in many sectors is already a daily reality. Employees and managers must have access to the most important information about the business because only then will they be able to make effective and timely decisions. Cloud computing has facilitated labor mobility by enabling important business documents to be consulted anywhere and for effective decision-making. So you don’t have to be in the office to edit a document or respond to an important email.

Skype

Skype is a free tool that lets even people who are away participate in the meeting. Distance is no longer an obstacle to people being unable to be present in the company’s decisions, and being a virtual meeting, there is less tendency to waste time on issues that are irrelevant to the theme of the meeting. It is necessary that the people involved in the decision process are in permanent contact, so that all can collaborate with their opinions!

Cloud Email

Changing the corporate email system to a cloud-based solution is very important to increase business mobility. These solutions facilitate communication between the various departments of the company, because the information becomes accessible even when using tablets and smartphones. Using e-mail on mobile devices allows for a faster and more efficient response, which contributes to greater management efficiency.

The importance of BAM tools for decision making

Making decisions for the future of the business is a daunting task for managers. Often, they don’t have all the necessary information to analyze situations objectively, which complicates to a large extent correct decision-making. In the day-to-day fulfilled in which they live constantly, the lack of time to evaluate the operations of the company is a major enemy of the decision-making. The large amount of information that currently exists is also a concern for companies, which increasingly find it difficult to deal with this information and manage it so that better decisions are made. BAM tools are used to increase the effectiveness of the business and to obtain all the data to make the right decisions. Let’s talk about the importance of BAM tools for decision making!

The information is delivered in real time

Business life happens now, every moment, and it is essential that you know what is going on with your business. Decisions based on a few days’ reporting are always reactive and risk being overtaken by a competition that is quicker to act. Knowing everything that goes on in real time with your business is essential so you can make timely decisions and have a proactive stance in the market.

Quick and intuitive query

The information provided by BAM tools comes in a consolidated way so that your query is easier and faster. You can choose to get the information through bar charts, multi-series charts, meters, among many other options. The information can be displayed using the most appropriate presentation, improving the analysis that the user can make of each indicator. In addition, each indicator is fully customizable according to business needs. When using the desktop, in the case of Multipeers, you can also use the ticker tool, which allows you to divulge external or internal news, messages and alerts, thus allowing all employees to be aware of what is important in the organization, which means that everyone is able to contribute to effective decision-making.

Immediate perception of problems

The real-time information provided by BAM tools informs us at the moment about the state of things, which allows us to know in good time what is going wrong, so that we can solve the situations. With this new management model, it is not necessary to resort to old reports to find out why something went wrong, because we are alerted immediately.

No need for clicks

BAM tools update permanently and automatically, so there is no need for user intervention. Instead of being the user looking for the information, it is the information that, in an autonomous way, finds the user. Business monitoring is a simple and intuitive process.

The Importance of 360 Vision for Your Business

A good manager should know everything that goes on in your business. Having a global knowledge of each of the areas of activity of a company is essential so that the best decisions can be made for the future of the business. In the hectic day-to-day business that management leads, it’s not always easy to keep up with all the business activities, but this lack of knowledge can be fatal to the company. Having a 360 vision is imperative to know all the employees with whom you work and all the activities that are carried out in the company. In today’s article, we address the importance of 360 vision for your business!

Better knowledge of Human Resources

When there is a great deal of knowledge about all the company’s employees, it is easier to keep employees motivated and retain the best talent in the company. It is essential that managers know the needs and motivations of their employees, since only then will they be able to offer them the necessary conditions to make them feel good in their place of work.

Real-time analysis

Business life happens now, every moment, and it is essential that you know what is going on with your business. Decisions based on a few days’ reporting are always reactive and risk being overtaken by faster competition to act. Knowing everything that goes on in real time with your business is essential so that you can make timely decisions and have a proactive stance in the market.

Easier decision making

When there is effective knowledge about everything that goes on in the business, it becomes much easier to make the right decisions for the company. Only with an overall knowledge of the state of the company is that managers are able to consciously decide so that the company can grow in a sustained manner.

Continuous improvement

A 360 view allows you to search for constant improvements. Constantly analyzing everything that goes on in the company allows mistakes to be found more easily and improvements are made in business processes and these improvements will be reflected in the company’s overall results.

Extra tip:

BAM tools like Multipeers make decision making more effective because they prevent errors from occurring since they eliminate the need to collect data from many platforms. Because they have a simple and interactive interface, all information is presented in a practical and interactive way, providing all the information in one place, giving the manager all the data he needs to make the right decisions.

How artificial intelligence will change the way we work

Artificial Intelligence: most significative applications

Artificial intelligence is one of the themes of the moment. There is also the misunderstanding that this concept only relates to the existence of intelligent robots that aim to eliminate the human race. However, the various advances in artificial intelligence, also known as AI, are meant to save us. Among AI’s main fields of action is medicine, which has shown significant and very important results in finding a cure for many diseases. Also in the business world, artificial intelligence will have a big impact. In today’s article we will address the most significant changes!

Chatbots

Chatbots are revolutionizing customer service. A chatbot is nothing more than a robot that talks to people. Chatbots help the user in a series of activities that until very recently required human intervention. If you’ve already ordered an Uber or a pizza for a mobile app, you’ve already used a chatbot. This tool aims to facilitate interaction between customers and companies. The applications are the most varied: from the possibility of checking the price of a currency, through scheduling a medical consultation: with chatbots everything becomes easier and companies are closer to your target!

Management

Artificial intelligence helps companies to interconnect all their information, which plays a very important role in management decisions. A company that analyzes your information in real time and has all the important business information in one place will be able to make more assertive and accurate decisions, which enhances the success of the business.

Watson

It’s the great star of IBM and a highlight in cognitive computing. This is a system that speaks and understands what people say. Bradesco was the first user of this technology in Brazil and believes that it will have great importance in the areas of customer service, training of employees and capital management. Watson has also been used in the health sector to assist doctors, drawing on scientific publications. The system is able to learn from its own experience, delivering increasingly accurate results.

End of repetitive tasks

Artificial intelligence helps employees stop wasting time on overly bureaucratic and administrative tasks. Through rules, it is possible for robots to perform the function of personal assistants, giving information on day-to-day tasks, meeting schedules, and travel times.

The use of machines and software capable of learning and operating without human supervision grows in companies with the aim of improving performance and reducing operating costs. In an age when technology dominates our daily lives, it is critical that companies follow this evolution and develop strategies to implement artificial intelligence in their processes.

BAM: find the key benefits of business activity monitoring

According to Gartner, BAM – the acronym for business activity monitoring – is the set of processes and technologies that aim to improve the analysis of the state of the business based on real-time information. BAM is used to increase the effectiveness of the business and to obtain all the data to make the best decisions. In this article, we present you the main advantages of using a monitoring system for your business!

Real-time information

Business life happens now, every moment, and it is essential that you know what is going on with your business. Decisions based on a few days’ reporting are always reactive and risk being overtaken by faster competition to act. Knowing everything that goes on in real time with your business is essential so that you can make timely decisions and have a proactive stance in the market.

Central management

BAM software allows a solid administration platform capable of collecting data from a wide variety of sources. So you can get all the information you need to decide in a convenient way in one place. With a BAM tool you can say goodbye to reports dispersed all over the places because you will find all the information about the company in one place.

Eliminates manual processes

Manual processes are more susceptible to errors than automated ones. By using a BAM tool such as Multipeers, you can free employees for other tasks and you can automate more repetitive and annoying tasks. This ensures that there is no need to constantly update data and consult reports. Everything is previously defined by itself and nothing will fail. The more automated steps, the more time you will have to focus on other important things to improve the business.

No need for clicks

BAM tools update permanently and automatically, so there is no need for user intervention. Instead of being the user looking for the information, it is the information that, in an autonomous way, finds the user.

Facilitates decision making

BAM tools make decision making more effective because they prevent errors from occurring since they eliminate the need to collect data from many platforms. As they have a simple and interactive interface, all information is presented in a practical and interactive way, providing all the information in one place, giving the manager all the data he needs to make the right decisions.

 

Analyzing data in real time is increasingly a reality in companies around the world. Business is happening at a very fast pace and it is essential that you know what is happening in your company to make the most appropriate decisions for your business. Multipeers is a growing need in today’s business world. Download our ebook at this link and get to know everything you need to know about BAM!

4 Myths about information management

Myths about information management

Managing information and data in companies is one of the main concerns of managers and is a topic that has been in vogue in last months. Threats to information security appear more and more in more and more varied forms and it is difficult to manage all the data of the companies in a safe and effective way. In this article, we will demystify 4 generalized ideas about information management that will help you better manage your company’s data!

Myth: data security can no longer be guaranteed

Computer attacks are increasing and there is increasing variety in attack forms. However, it is possible to reformulate information security strategies and change some routines: checking your antivirus regularly, changing passwords frequently and choosing good Cloud services are some tips to ensure greater security of internal information.

Myth: we cannot prevent, just react

The most frequent threat today is called ransonware. In this attack, hackers steal data and request redemption in BitCoins to return them to the company. This attack occurs by sending an email to a company employee who opens it without realizing it is a threat. A malware download is automatically downloaded to the computer. This shows us that investing in employee training is essential. Awareness-raising campaigns on the importance of information security is a form of prevention.

Myth: upgrade the systems ensures the protection

In fact, a system upgrade can pose an even greater threat to data security. It is essential that companies test the upgrades in their own environments before starting to effectively update the system. This way you can detect threats and eliminate vulnerabilities of the update.

Myth: Information management only concerns IT managers

In an organization it is essential that all employees are committed to the issue of safety. That is why the awareness campaigns for this topic are so important. The responsibility of protecting the confidential business data is of everyone who works there. In addition, the more information that managers gather, the more confidence they will have when making decisions. Big Data and real-time data analysis are two growing trends that are changing the way we manage business information.

Protecting your company’s information is critical so you can ensure that no confidential information is passed abroad. Prevention and training of employees together is the key to ensuring that data is protected and secure. Products such as Datapeers are increasingly needed in today’s business environment as they enable the protection of information and ensure compliance with the new data protection regulations, which will enter into force in May 2018 in the European Union.

Find how data analysis can help you to define a market strategy

Understand how data analysis can help you define strategies

Intuition is not enough when deciding what’s best for your company. Fact-based data analysis increases the likelihood of making the best decisions for the future of your business. More and more managers are aware that analyzing data in a timely manner is a necessity in today’s business world. In this article, we’ll explain how data analysis can help you to define a market strategy.

Data from various sources provide a global view of the market

Analyzing data from various sources is essential to have complete and comprehensive information about the state of your business. It is essential that you be attentive to the market and the sources outside the organization are of the utmost importance. If you always know what is going on in the market where you operate, you will be able to keep abreast of trends and changes, being able to be one step ahead of the competition. Data analysis helps you figure out what to do next.

Analyzing the information left by the client allows to draw a real profile

It is mandatory to know the client’s profile, their needs and expectations. We can draw this profile if we are attentive to the signs that they leave in the different channels of communication with the company. In today’s digital world, we all leave clues and everything the customer does on the Internet can be relevant information for building his profile. His behavior creates statistics, which in turn create consumer behaviors. Through this data, we can improve our service for that customer, increasing their connection with the brand.

Analyzing the results of marketing actions improves its performance

Everything we do at the marketing level must be measured. Through analytics tools such as Google Analytics, you can identify which areas of the site are performing best and target efforts to those who are not performing well. At the level of social media this also applies and we should always analyze all actions. In this way, the analysis of data allows to improve the performance of marketing, which will be good for all the areas of the business.

True information increases confidence in decisions

Decisions made on the basis of actual business data will increase the confidence of managers. And this increase in confidence will be positive for business growth as the manager will be able to make tougher decisions more consciously and the risk of making mistakes will be lower.

Knowledge of competition improves our market positioning

Analyzing the actions of the competition and creating statistics with these data will give us a better perception of what our competitors do and will allow us to have a better market positioning. Real-time information is increasingly a necessity and allows us to know at every moment what is going on around us so that we can act quickly and consciously.

Multipeers is a business monitoring software that allows you to manage your business in real time. Talk to us and know the product that will change all the management of your business!