Workflows may be a simple sequence of work activities, or a complicated collection of processes that take place in parallel. When a company’s methodology features workflow management system capability, the result can be more visibility into all stages of the process, better accountability among work team members, and improved efficiency overall. With the right workflow management solution, repetitive tasks can be automated, and better collaboration is facilitated.
Microsoft® Excel™ is the default business tool in many companies thanks to breadth of its functionality and incredible flexibility. Over the years Excel users have leveraged its functionality to solve a wide range of challenges. For example, MS Excel is widely used for managing tasks and projects, tracking progress in Excel is also a widely spread practice. Have you ever thought of creating a workflow in Excel? A lot of people struggle to create Excel approval workflow and give up on trying one day. (more…)
Global competition is one of the challenges that modern businesses have to deal with. Also, they have to find ways to reduce their overheads while creating new products and services. As business processes evolve daily, organizations must search for ways to solve their challenges. One of the best solutions to use is workflow technology. It consists of software and methods that could improve the way business processes are captured, re-engineered, optimized and automated. Workflow is a concept that describes how processes in manufacturing divide work activities into distinct roles, tasks, procedures, and rules.(more…)
Before taking a capital expenditure decision, take the best practice template, put it online, and have a streamlined execution process for your capital expenditure (CapEx) approval process: makes it transparent to the decision-makers and the task-owners.
It may be true that mistakes are just part of being human, though this mantra is inadmissible for highly intricate and stringent operations such as new account applications and loan approvals as well as other crucial banking workflow processes. However, despite this firm guideline, a lot of banks have endured irrelevant errors because they were extremely dependent on the manual paper-based procedures.
Any modern successful company consists of many departments and teams. Although most of these departments are very specific for each type of business, we still can separate these into two groups: