The definition of business process management (BPM) is broad but it can be slashed to a systematic approach to making an company’s workflow more effective and reliable for better understanding. This short definition highlights business process management importance for business, but not hardly foreground benefits of BPM integration into a business. Below we cover why BPM is needed and how business of any size can benefit from BPM technology.
Read on for effective workflow management tips and get risk-free trial of Comindware Tracker to put tips into practice and boost your business effectivity right away.
By Keith Craig:
AI will change the course of how project management tasks are delivered and controlled in the future.(more…)
Accounts payable is an accounting entry that represents a company’s obligation to pay off a short-term debt to its creditors or suppliers. The accounts payable definition and meaning are universal across companies, but the ways accounts payable process is treated are specific in regards to certain business. It is obviously important to ensure proper accounts payable efficiency in order to have these debits paid off in time and avoid default, however a lot of businesses still lean toward manual processing.(more…)
Changes in project workflow and the makeup of the workplace have impacted how many companies handle project management. Lately, there’s been an emphasis on communication and collaboration, and on finding ways technology can make projects more efficient and transparent across team members.
Let’s take a look at some of the biggest trends that are changing how companies get their work done in 2018:(more…)
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.