Notes from the President

Ken Hilton - President Red Wing Software

Over the 44-plus years that Red Wing Software has been in business, we have been able to hire great people and are fortunate that many have been with us for a long time. Our average length of employment by our team members with Red Wing Software is slightly over 22 years. We make every attempt to hire the right people and fully intend for them to remain with us until they decide to retire. We have two such team members that have reached that decision.
Dan Brimberry has been with us for almost 31 years, serving in several roles. Dan has been part of our internal Accounting team, Quality Assurance team, and most recently, our Design Manager for all our financial management products. Dan is also a CPA and has helped us ensure our offerings comply with Generally Accepted Accounting Principals (GAAP). Dan’s last day will be October 6th.
Julie Strain has been a part of the team for almost 28 years and has worn many hats. Starting in support, she became our primary instructor for classroom training and online webinars, has worked with the sales department to help make sure our products were a good fit for new customers, and most recently works as an Implementation Consultant assisting new users set up complex business structures to get the most out of our software. Julie’s last day will be September 29th.
Both longtime team members will be sorely missed, but rest assured we have the right people in place to fill the gaps these retirements create. We wish Dan and Julie the best in their retirements, and we’re certain they will have plenty to do to fill their newly acquired time.
Finally, after occupying the same building for around 27 years, this month, we will be relocating to a space more conducive to the way we do business today. The headquarters will remain in Red Wing, MN, at a more convenient location for those who spend the most time physically in the office. I am a big proponent of good change: although sometimes challenging, it’s always exciting.

Notes from the President

Ken Hilton - President Red Wing Software

I recently attended the Farm Financial Standards Council annual meeting in Illinois. This organization’s mission is: Promoting Uniformity and Integrity in Financial Reporting and Analysis. One of the sessions was a panel of three bankers discussing what information bankers typically use to evaluate loan risk and what they would prefer. The panel was very diverse, with one panelist from a nationwide lending organization, one from a local bank, and one mortgage lender.
They all discussed the need for recent tax returns and a balance sheet. They mentioned they typically get balance sheet information for varying times of the year, and sometimes handwritten. While, in some cases, competition for the loan dictates they don’t push for more information, what they really would like to see are much better and consistent records.
In every case, they mentioned wanting professional-looking balance sheets prepared in the same period each year, accrual profit and loss statements so they can evaluate trends in the business over time, and projections for the business. It was interesting that another conference session talked about succession planning and the importance of good records when it’s time to transfer the business to someone else.
I understand I’m preaching to the choir since most people reading this already can produce these important documents with their software. But, at the risk of repeating myself from previous articles, “If you keep good records for yourself, you’ll have good records for anyone else that may need them.”

Notes from the President

Ken Hilton - President Red Wing Software

This may sound a little strange at first, but I choose not to celebrate the 4th of July. However, I do celebrate Independence Day, which happens to be on July 4th.
We tend to recognize, observe, and celebrate dates rather than the events that made the dates important to us. Remember the special events that happened on a date and recognize why that date is significant.
These thoughts can carry into your business management, as well. Every day, week, month, and year we run various financial reports to track how our business is operating. We look at a Balance Sheet and get a snapshot of the financial health of our business, but do we dig into it and determine what caused the changes on this report? We run an Income Statement, P&L, Statement of Farming Activities, or Statement of Revenue and Expenditures (depending on your type of organization), but do we take the time to drill down and determine why the business is heading in the direction it is?
Every country and business has events and reports that they recognize and review at certain times of the year. Let us make it a point to remember why we are running these reports and the reason we are celebrating these dates.
Independence Day is also a great time to remember everyone who keeps us free and safe, especially in challenging times.

Notes from the President

Ken Hilton - President Red Wing Software

We hear a lot about malicious activity in technology, with people attempting to access your connected devices and sometimes causing havoc with your data. We do what we can to secure our computers and networks from outside forces, but what about our internal security?
At Red Wing Software, we are fortunate to have Larry, our internal technology wizard, ensuring we have up-to-date and strong passwords that must change regularly. Even if you don’t have a “Larry” to keep your systems secure, there are some simple things to do that will help keep your information safe.
When did you last change your password to access your computer or confidential business information? When a new person joins your organization, do you ensure they know the processes you use to protect your systems? When a person leaves or retires, do you make sure that person’s logins are deactivated? Are you regularly changing passwords if you’re taking advantage of CenterPoint in the Red Wing cloud? When transferring access from a staff member that leaves to a new employee, don’t just give the username and password of the former employee to the new person to get access quickly, as that means they both now have access to your systems.
It is important to think about all levels of security in your operation, just like you would change the keys to your house when access needs change.

Notes from the President

Ken Hilton - President Red Wing Software

Seeing the severe weather devastation throughout the central United States over the past year tends to put things into perspective. It proves the Minnesota winters aren’t the only thing challenging to handle. Our thoughts and prayers go to all those affected by disaster.
We know that some of our valued customers were directly affected by storms, tornadoes, and hurricanes. As a company, we at Red Wing Software will do what we can to help our affected clients get back to business and resume some sort of normal operations.
If you are subjected to a disaster, we will do whatever we can to help minimize the impact on your business’ recordkeeping tasks. Please call on us if help is needed reinstalling programs or backups or for any other task our support staff can assist with.
This is a good time to remind everyone about the importance of data backups and disaster recovery plans. We can help reinstall your programs, but it’s up to you to have current copies of your data. Please count on the staff at Red Wing Software to help in any way we can.