The digital silos
It is astonishing that, in this digital age, most business owners, directors and managers still operate in a world of information silos. Despite the evolution of the ‘Cloud’, there is a lack of information transparency and integration for business owners and their advisers in the most critical areas of their life.
The current information world looks somewhat like a solar system with the business owner at the centre surrounded by a series of orbiting planets (their advisers). Each of these planets has their own language and is a disconnected silo of their own information.
This disjointed structure inevitably impacts a business owner’s universe as it results in poor or inaccurate decision making, inefficiency, ineffectiveness, conflicting advice, increased costs, poor communication, lost opportunities and many other business and personal risks.
The convergence revolution
One of the key reasons why these silos continue to exist, despite the substantial progress in the technology that captures the information, is the approach taken by the technology industry itself.
Most providers of software solutions to businesses adopt a ‘vertical’ approach to their functionality and focus on offering one core product.
While this may mean they are able to become an expert in this one area, the approach perpetuates the silo model.
It creates major challenges around integrating and sharing the information that has been captured in this stand-alone offering. Further, it provides a reinforcing loop to business advisers around their own business models and service offering (that information can’t be shared).
The bottom line is that business owners deserve more.
They have the right to controlled management of the most important areas of their life. However, this can only be achieved through information (both business and personal) being transparent and accessible by their advisers (permission given by the client) who are working in a collaborative relationship.
The impossible made possible
Unlike nearly all other software providers, MYP has taken a contrarian approach to its systems development and information model. MYP’s view is that people in business and their advisers are looking for better quality, real-time information that can be accessed simply and inexpensively.
While the prevailing industry model favours ‘vertical’ software solutions, MYP has adopted a ‘horizontal’ model. In offering this connected solution, MYP provides a shared world of personal and business information eliminating the silo effect.
This is why MYP is able to capture more information in one place than any other provider to the small to medium enterprise sector.
The culmination of this approach is a transparent, information rich, high value, integrated ecosystem called Propel.
Propel makes the impossible possible by changing the way people with more complex lives, and the advisers they work with, view and take control of their world.
It enables advisers to business to move from reactive to proactive family and business managers. It moves them from the ‘value fringe’ to the centre of a client’s world.
The solution – Propel
The name ‘Propel’ reflects the impact this system has on a business owner’s world.
Propel is centered on achieving accelerated performance in a controlled way. This is delivered through the effective connection of information in all critical areas of a business owner’s life.
For the first time, in one place, Propel provides the tools to enable business owners and their advisers to better manage their professional and personal affairs.
Propel provides access anywhere, anytime to:
- Real-time financial performance dashboards (integrated with major cloud-based accounting software)
- Three-way cashflow forecasting, budgeting and ‘what if’ scenarios
- Real-time personal KPI dashboards
- Benchmarking information (available soon)
- Business and personal documents
- Set up and manage all related party loans, schedules and documents
- Store all critical personal estate planning and business succession planning information
- Manage Board and other key meetings
- Automate notifications and reminders around all insurances
The wealth of information captured and managed within the Propel environment creates a shared ecosystem that supports efficient, effective and valuable collaboration with and between advisers.
‘Controlled performance’ in our business and personal worlds is a critical step in achieving the universal goal of every person – choice. The ability to determine what we do, when we do it and who we do it with.
Put the control back into your or your client’s world, with Propel
To find out more: www.mypcorp.com
Phone: +61 7 3393 2833
- MYPcon17 – Time to refresh your thinking – MYP Corporation - 20 October 2016
- The New Way to Manage Your Personal and Business World - 5 November 2015
- Taking Business From Now To Next - 23 June 2015