DMC Systems Group, Ltd. - 2009 April Edition

A Message from Doris: Partnering the Right Way in 2009

Don't cringe....we've all had business arrangements that start with the best of intentions and end up short of disastrous. Often like marriage, we go back and try to make existing relationships work or find a new buddy that's a better match. Either methodology can work or, over time, you figure out what techniques make your firm more successful.

Although we provide many unique solutions and services, DMC believes in partnering with other firms. Why? Because trying to solve all areas of accounting can lead to less than satisfactory service. In this way we are able to stay current on the complexity; and trust me, it’s a challenge to keep up with versions, accounting, data base work and constant IT changes. So what we do is look for relationships that work in areas that we are familiar with and locate a relationship that benefits the client. This is done through referring clients to trusted resources. We work with some of those resources in a partnering way, and others because it’s simply the proper way to help our clients grow their business. When you help, even if profit is the motive, you’re doing what’s best for the client.

Developing partner relationships could enhance your business in the following ways:

Being thought of as a trusted resource.
Relationships build business not "features" and "offerings".
Good partners return the favor, always.

Finding good partners and resources can be challenging. A good place to start is a short list of services you always wanted to offer but are not proficient at. Such as:

Referring network engineers – as we are application and database specialists.
Referring CPA firms – especially firms that assist with the audit functions and business valuations.
Partnering with accounting software companies – as we are not developers, but accountants in software.
Referring staffing agencies – because, often, accountants quit, transition, or companies are in a growth mode.
Referring payroll companies – as they add value to a service we often provide, but is often best serviced by payroll companies.
Referring HR and Pension Administrators - as the laws are deep and complex, and they understand how this impacts accounting and related systems.
Referring telecom companies – as they can provide better, and cheaper, services which ultimately show on clients’ profit and loss statements.
Referring insurance agents – as they offer services tailored to the needs of the business.

Defining relationships so you can avoid communication problems:

Competition with close vendors and referral relationships can quickly end the relationship. Define this and do not argue.
Is this a partnership, a quid pro quo or straight referral relationship? All this involves money whether implicit on a quid pro quo or actual money share.
Explain your relationship with your clients, meaning, own your referrals and partners or you can impair your relationship with your client.
Contract when the money part really works - items such as royalties, termination, and length of referral all come into play with formal contracts.
Avoid restrictions in territory, exclusivity, as it can lead to non profitable quibbling in a small business.
Survey and communicate via phone or email routinely to check in on your client.

Last and most importantly, we work well with, like, and respect our partners. It just makes it simpler. It’s way simpler to work toward happy relationships, not struggling relationships riddled with inconsistencies and resulting in frustration. Adopting some of our strategies in developing partner relationships could enhance your business. And with that in mind, for client principals and business developers, we are offering a shared seminar in June with Next Level trusted advisor, Chris Bond.

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What we know so far about upgrading to Vision 6.0.

Are you currently a Deltek Vision 5.1 user who is curious about what awaits you with the release of Vision 6.0? Deltek hasn’t provided all the details yet, but here’s what we know so far.

SQL 2000 is no longer being supported. This will be a tough change for you if your firm is currently using SQL 2000 to manage your Deltek database. However there are versions of SQL out there to which you can upgrade, and they are free to use. If you are currently in a situation where you will need to upgrade your database engine to the required 2005 or 2008 models, contact us and we can help you with the installation of the new version and with setting up a database maintenance plan to backup your database on a daily basis. Remember, the free versions of SQL do not have the “SQL Agent” that is required to do daily backups, but we have the tools available to get around this problem.

For those of you who are familiar with how the back-end of Deltek Vision works, then I am sure you know about the Actuate Reporting Services. For those who aren’t familiar with Actuate, basically it is a third-party product that Deltek uses to generate reports within Vision. It’s a great product, but can be a little difficult to manage in conjunction with other products, and the reality is, not all of us have extra servers to spare in order to keep a dedicated Deltek server. With Vision 6.0, Deltek will be dropping Actuate in order to use Microsoft Reporting Services. This is good news because now Deltek Vision is becoming even more consolidated and easier to manage. We should be seeing more ability to customize reports too.

The good news is that there are some major technology breakthroughs being offered with the new release of Vision. Version 6.0 is up-to-speed with the latest Microsoft technologies. The ASP.NET framework is being upgraded from 2.0 to 3.5, so if your firm’s website is built on .NET 3.5 technology, then IIS will be a little easier to manage. Next, the Windows 64-bit OS on Server 2008 is now supported for all three tiers (web/app, reporting, database). For those who can upgrade to this technology, you’re going to be seeing some huge speed improvements. There will also be some nice user interface improvements, like the ability to adjust grid sizes on the fly, and further ability to customize the overall look of Vision.

Before upgrading, please keep in mind that these are major changes to the foundation of Deltek Vision. Upgrading from 5.1 to 6.0 should take careful consideration by your team, and make sure to have a professional like DMC Systems at hand to ensure that the upgrades are orderly and performed correctly. Contact me at (617) 383-6090 if you have any questions.

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Social Media Starter Kit. by Guillaume Deflers

Who does not want to know what people think about their products and services? It is definitely getting more and more important. The web and social media can help you to generate more leads, receive feedback about your products and services, and to create an edge over your competition. Whatever your motivations are, to successfully implement your social media strategy you must explain the value for your firm to everyone involved in this project. So what is your firm trying to accomplish?

Create more traffic to your website.
Increase your company’s visibility.
Make new business partners.
Generate new leads.

Once you have determined what the most important factors are for your company then it is time to get down to it. The best part of social media is that most of it is free, but once you post anything on the web you need to realize that it will be available to everyone, so be cautious and make sure that everything is consistent with your branding identity. I will cover four items that you should consider applying very soon.

LinkedIn - Everybody knows this business networking website, but does everyone from your company have an updated profile? LinkedIn is no longer just a website to keep in touch with old colleagues; it has developed into a real business tool. It not only allows you to connect with business partners and former colleagues, now there are tools available for your company to generate new opportunities from it. The Q&A section is a perfect way for you to help others using your expertise, which over time can benefit your business. Finally, joining groups is also part of that approach because sharing ideas and/or concerns with similar professionals can assist your daily job.

YouTube is a video website where you can find an extremely wide range of videos from cooking classes to music videos. The great thing about YouTube is that it is user-friendly, established, and safe. Take your business to the next level and use it to share your business related videos. Company overviews, presentations, training videos, and even mission statements are some examples of what can be shared with the world within your branding strategy. Creating a company page on YouTube is very simple, and organizing your videos into folders will facilitate your company to share its knowledge with others. Advertise your YouTube page on your website that potential clients can refer to as a preview before contacting you for additional information.

Creating a company blog where associates, partners, and the CEO can share opinions and information is free, and with it you can publish to the entire world within minutes. The larger your blog, the more you should control the messaging; you will then require someone to monitor it. Think of your company blog as a way to prove your expertise, so each blog must have a topic, being focused and short. In terms of frequency, keeping it active is important so you should blog on a regular basis, say every week, or if that is too intense then try every two weeks, but it needs to be consistent so people keep following it.

Instant Messaging (or IM) is a way to communicate between emails and face to face conversation. All of us are connected online most of the day already, and many chat using AIM, MSN, Yahoo, and Google Talk. Some websites already use this tool for sales and technical support as chatting is a bit less personal and quicker, so why not implement it in your company? First, within coworkers, it will increase efficiency as it is a quicker tool than emails, just make sure to get into the habit of using appropriate language and attitudes, as being informal with a colleague may be accepted but maybe not with a VP. Secondly, customers or potential clients will appreciate the possibility to be connected directly with someone without waiting on the phone or for an answer. Finally, IM is emerging in business as a collaborative tool as it allows sharing documents, voice, pictures, and videos. The only concerns with IM are about security and archiving but nothing that your IT department cannot handle.

Social Media is still an up-and-coming tool, but it is necessary for firms to show interest as it will be indispensable very soon. While implementing your social media plan, keep your brand consistent through the different channels in which you promote your company. To be successful at social media your company must accept losing some control over the messaging as everybody will be able to comment on every opinion you are trying to introduce. One last thing, your company may see results only after a few months so be patient and keep it up.