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Marketing

Refine Products with Request for Comment (RFC) Papers

Abstract industrial gears on a blue background

As a new product or solution comes together, stakeholders may not have easy access to all the proposed software methodologies in one location. A Request for Comment (RFC) paper can help bring all development information together and act as a forum for stakeholders and teams to refine the new product or solution. This process can also help inform further decisions on how to proceed with development or to not continue a project.

Anatomy of a Request for Comment Paper

An RFC paper typically includes the following types of information:

  • Overview: The overview includes a high-level description of what the new product or solution does. This section can also include links to any related documents or sites that explain the new product or solution.
  • Architecture: The architecture section includes any architecture diagrams for the new product or solution, as well as more in-depth explanations of each part of the architecture.
  • Testing: The testing section includes what is tested and how the testing is completed.
  • Appendix: The appendix includes a list of the RFC paper recipients and when it was sent out for comment. A sub-section of the appendix lists all of the comments received from stakeholders, as well as any further discussion on those stakeholder comments.

The RFC Paper Process

The Request for Comment paper process begins with gathering all the information for the new product or solution, which might include sourcing existing documentation or developer/subject matter expert interview. This information is then formatted into the Overview, Architecture, and Testing sections as necessary.

Next, a first draft of the RFC paper is sent to any knowledgeable developers or subject matter experts to ensure accuracy. Once this first draft is approved, the RFC paper can be sent out to stakeholders for comment.

Comments are collated into the Appendix section as they are received. Any further discussion that arises from those comments is also included. A Request for Comment paper is considered “complete” when all stakeholders and development team members are able to add comments, discuss those comments further, and resolve issues with any proposals contained therein.

To learn more about our services, contact us at collin@canrightcommunications.com

Improving Efficiency with Process Documentation

Does your organization have a system in place for storing and organizing documents? No matter the size of your business, procedures, and processes make up the core of how your company operates.

Process documentation is the act of documenting procedures, processes, and tasks. Think about all of the moving parts that make up your organization. Maybe you have a receptionist and sales department. Perhaps you have a marketing team and an executive team. Every branch of your organization carries out different tasks each day that can be broken down into some sort of step-by-step process. 
 
Without process documentation, a sales team might not know how to catalog a lead. A marketing team might not know how to assemble an email campaign. At the end of the day, processes help streamline your operations so your business can function better and thrive.

Why it Matters

There are many reasons why process documentation is important, including the following:

  • Improves training: Quality process documentation ensures when there is staff turnover or team members moving from department to department, everyone knows what to do at a given time. For new staff, process documentation makes training easier and cuts down on the amount of time that other team members have to spend training and teaching newbies. 
  • Eliminates redundancy: Process documentation is a good way to help eliminate multiple copies of the same document. It helps streamline the documentation process so the same document isn’t being stored in multiple places at once. 
  • Improves overall business processes: When team members have access to thorough process documentation, they’re more likely than not to be able to complete tasks and responsibilities on their own. This efficiency can improve and benefit the business as a whole.
  • Operational consistency and efficiency: Process documentation is imperative for organizations that want their business to operate efficiently and consistently. Additionally, streamlining documentation and making it more concise makes it easier for leaders to audit and enforce processes.
  • Decreases risks: Having process documentation on hand helps cut down on operational risks that could arise with governmental entities and clients.

Organization Improves Efficiency

If your organization lacks process documentation, it’s not too late to get started. Think of process documentation as a blueprint for how your organization operates. It should be the first thing you look at when making major business decisions or adjustments to departments. To get started with your own process documentation plan, consider doing the following:

  • Inventory your current business processes.
  • Follow a structured template to document your processes by department.
    • Accuracy is key. When detailing your processes, don’t skip steps. Make sure that everything is detailed, concise, and easy to follow.
    • Validate the processes you document to ensure accuracy
  • Communicate the process documentation to relevant team members.

What Does Your Process Documentation Look Like?

These are just a few reasons why process documentation matters. Without precise processes for members of your organization to follow, your business operations will falter. Quality, efficient processes save organizations time and money so more resources can be spent on business growth. What does process documentation look like for your company? If you don’t have a documentation process in place, there’s no time like the present to get started.

Contact us if you’re interested in our services at collin@canrightcommunications.com

How to Market Wealth and Capital Markets Technology Innovations

The complexity and maturity of a technology help determine the content used to market and promote it. As with any marketing and PR campaign, the audience you want to reach and the purpose you want to achieve come first.

At Canright, our wealth-technology marketing content focuses on solutions and the value they bring to clients. Take a look at these projects we’ve completed over the years to see how we presented software applications that solve long-standing business and technology problems.

Total Cost of Owning and Managing Options Market Data

A new service of the SpiderRock trading and risk platform provides institutional investors with a system to buy accurate options data tailored to specific trading use cases. This white paper focuses on best practices to give useful information to potential clients while showcasing the firm’s expertise and leadership in options market data.
https://canright.co/OptionsData

Increased Business Competitiveness and Software Developer Productivity

Emerging technology solutions entail the most risk and, as a result, often require a more detailed explanation. This is especially true when selling to business executives and technology leaders in an enterprise market. We developed this brief to educate potential customers and internal stakeholders on what infrastructure-as-code can provide to software development teams.
https://canright.co/ServerlessBrief

Enhanced User Experience and Deeper Data Analysis

Creating PR for large enterprises is a team effort. We contributed messaging to this one for an insurance analytics application that expands legacy-based reporting functions by moving to the public cloud.
https://bit.ly/InsuranceAccounting

Our clients work with the technologies that are determining the shape of business, commerce, and finance. We help them market and sell their ideas, innovations, products, and solutions through clear communications.

Contact us if you’re interested in our services at collin@canrightcommunications.com

Combating Tribal Knowledge

Useful documentation is one of the most important elements for a growing business. Whatever you’re working on, the ability to quickly bring new team members up to speed is a major advantage in efficiency.

That said, for many businesses, good information is hard to find. So-called Tribal Knowledge, where only certain employees within a business have any real knowledge about products, customers, or processes, is by far the rule of the day for most.  

For a rapidly-growing company, information that only exists inside the heads of a few people may as well not exist at all. Finding a route to a good documentation strategy is critical, and it’s simpler than it may seem at first blush to organize effectively.

Make a Plan

Developing a thought-out, organized structure for your documentation is a critical step to take before ever opening a Word document. The better thought-out your specific strategies for content structure before you get started, the stronger foundation you’ll have to keep everything organized.

Keep it Simple!

You don’t have to overthink the structure. It’s tempting, particularly with more complicated subject matters, to create deep, nesting hierarchies of folders that are hyperspecialized to individual topics. This is a trap, as it can be difficult to navigate and, more critically, time-consuming and complex to create in the first place.  

Keep the categories simple and focused on the most important functions and processes for the organization.  

Centralize Control

For many organizations, documentation that exists is built out in an ad hoc way, with each user who has something new to add putting up a new folder or space for their own documentation. This way lies chaos. To keep that information accessible, centralize control over documentation structure with users adhering to the format of one overall vision for your content.

Giving users the ability to add the content they need ensures that the tribe’s needs and desires are met. Focusing that content on a centralized structure and style provides the guard rails which ensure that content is readable, accessible, and usable.

Aligning Business Goals with Technology

Aligning business with technology can be daunting. The ever-present drumbeat of advancement can be hard to keep up with, particularly in the face of institutional inertia.

But, implemented well, digital technologies like cloud development, FinTech solutions, and digital asset systems, can represent a real opportunity for all financial businesses big and small. They can help keep ahead of client expectations and meet them more cost-effectively.

The key to digital success is embracing an operating model in which business and technology are aligned and unified. Technical communicators can help by making sure business executives and technology leaders understand one another.

Perspectives may differ, but effective technical communicators can ensure that all teams are aligned on desired outcomes, which can include:

  • Retain clients.
  • Provide better margins to existing lines of business.
  • Build new distribution channels for both existing and new clients.
  • Increase market reach.
  • Target new revenue sources.

Many of the problems that new technologies can solve are ones that less efficient business models have yet to consider. Canright communications consultants help clarify the problems and potential solutions.

We focus our business-alignment assignments on three primary technology themes.

1. To survive, become technology-focused and evolve quickly.

In short, technology focused on solving business problems will be the differentiator for asset and wealth managers. Investing in technical talents, such as data scientists and high-level developers, will remain important. Adopting digital and cloud technologies is important as well.

2. To become more efficient, tie specific technologies into broader processes.

It’s imperative for technology to provide workflow and cost efficiencies to all business and product lines, especially as today’s regulatory environment changes compensation patterns in advisory firms.  

Technical challenges lie in rationalizing hardware systems, software interfaces, and data models. Too often, the focus on “legacy systems” leaves out data models and data quality.

3. To thrive, stay a step ahead of your clients.

Clients today want asset and wealth managers to anticipate their needs, to know what they need before they ask for it. That will make the difference in retaining existing clients and winning new business.

Technology can help businesses stay a step ahead. Business models and technical systems must be able to adjust and adapt to quickly changing markets.

Support for the front lines of the business is important as well. For all the things automation can do to reduce operating costs, for instance, the heart of the business still comes from personal contact.

Technology that makes this happen may go beyond what’s comfortable for both business and tech organizations. But with proper alignment, it’s possible to stretch while maintaining the security and trustworthiness that forms the bedrock of all businesses.

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