ChatGPT – does it really work?

I’ve been reading in so many places about ChatGPT that I decided to look into it a bit further.  I figured I might as well give it a test to see what happened.  This is the query I made:

Managing transactions across a wide group of stakeholders around the world

And here is the article it produced:

Managing transactions across a wide group of stakeholders around the world can be challenging. Here are some tips that may help:

1. Establish clear communication channels: It is important to establish clear communication channels with all stakeholders. This includes setting expectations for how and when communication will occur, and ensuring that all stakeholders have access to the necessary information.
2. Use technology: Technology can be a great tool for managing transactions across a wide group of stakeholders. This includes using online platforms for communication, collaboration, and document sharing.
3. Create a central repository: Establish a central repository where all relevant documents, data, and information can be stored and accessed by all stakeholders. This can help ensure that everyone is working from the same set of information.
4. Assign roles and responsibilities: Clearly define the roles and responsibilities of each stakeholder. This can help prevent confusion and ensure that everyone is working towards the same goal.
5. Establish clear protocols: Establish clear protocols for handling disputes, conflicts, and other issues that may arise. This can help ensure that all stakeholders know what to do if a problem arises.
6. Be transparent: Be transparent with all stakeholders about the status of the transaction. This includes providing regular updates on progress, milestones, and any issues that may arise.
7. Understand cultural differences: If your stakeholders are from different parts of the world, it is important to understand and respect cultural differences. This includes being aware of different communication styles, business practices, and norms.

Overall, managing transactions across a wide group of stakeholders requires clear communication, effective use of technology, and a strong understanding of roles, responsibilities, and cultural differences.

I couldn’t have said it better myself.  So how do we help?  Let’s look at the list.

• Establish clear communication channels: Phundex streamlines transaction management, significantly reducing email traffic
• Use technology: Phundex is the ideal collaboration, transaction and document management platform.
• Create a central repository: Phundex has a data room for each transaction
• Assign roles and responsibilities: Managers assign Team Members specific tasks with detailed instructions, deadlines and priorities.
• Establish clear protocols: On Phundex, each Transaction (Pathway) has a Manager who is the first line of escalation
• Be transparent: Phundex has Dashboards providing real-time updates.

Understand cultural differences: If your stakeholders are from different parts of the world, it is important to understand and respect cultural differences. This includes being aware of different communication styles, business practices, and norms.

We look after the first 6, giving you more time to handle cultural differences and spend more time with your clients and stakeholders doing the value-added things that make a difference.

Please click on the button below to download the full article.

You can find more articles on our website, at  Phundex Resources, on LinkedIn at Phundex LinkedIn, or for other questions, please email us at:  hello@phundex.com.

To book a demo or do a trial, you can either use the link on our website or email support@phundex.com, and they will be happy to set it up for you.