Collaborative Minds Blog - page 10

When looking into automation and the use of software to manage basic business tasks, it is easy to get bogged down in complicated language. Some people use different terms, well, differently. Business rules engines and workflow engines are two of the most important aspects to automating business functions and while some use the terms as if they mean the same thing, they do not and the difference is important.

BPMS refers to business process management software. These are software tools that provide for advanced automation, integration with a range of other software systems, and the improvement of business process efficiency. This is a powerful set of tools that can automate and manage a wide range of even complex business functions, improving efficiency, and reducing the need for human data entry, which also reduces error.

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Streamlining and improving the efficiency of business operations is, perhaps, one of the most important tasks of management today. There is always room for improvement when it comes to the basic daily operations of a business and workflow and other automation software make this easier than ever before.

Procurement process flows are one of the most vital aspects of business and where far too much room for error can happen when data and processes are managed manually. With automation software, this process can be streamlined and errors reduced or eliminated.

The accounts receivable department at any organization is responsible for some of the most important business functions: they manage the money that comes into a business or institution. Given the importance of this department within most organizations, it is strange to find out that this department is often lacking when it comes to using innovative new tools like automation.

We’re excited to announce that TrustRadius has recognized Comindware Tracker with a 2020 Top Rated Award.

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For businesses, there are many ways to approach workflow to provide effective, yet flexible planning. Plans change, new situations arise, and a business needs to be adaptive enough to manage this flexibility. A lot of companies have moved to what is called an agile workflow, which allows them to maintain a plan of action, but also leaves enough flexibility for the unknown.

For a business owner, accounts receivable is one of the most important company metrics and also one of the more confusing ones. It refers to outstanding balances owed to a business by other parties. Where possible, payees expect payment at the time a service or a product is provided, but businesses often have some form of financing that allows a customer or a client to carry a balance which is to be paid off over time. We can think of this as a quasi IOU from a customer or a client to a business.