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:
Foxboro, MA – August 2, 2018 – Comindware, a leading provider of Workflow Management Software, announces the availability of Comindware Tracker new version to further improve its flexibility and ability to meet customers’ needs at all different levels. New enhancements allow extended access permission settings, new PDF rendering option and a bulk of effectivity improvements.
With the rise of a company, its internal bureaucracy also grows stronger and bigger. When you work in a company of 3 people, you can simply tap Bruce Murdock (your manager) on the shoulder and ask him – “Could you sign up this contract”? But when Bruce has more than a thousand employees and each one taps him on the shoulder, we believe that Bruce’s business would get stuck. So, Bruce organizes his people in teams and departments, which is a normal process, and sets collaboration policies in order to make sure that they manage contract lifecycle effectively.
Leaders and founders of companies often wander through many ways to improve all the different processes that require to be done for achieving a same goal between team members. They indeed understand the importance of ensuring communication and efficiency between departments or groups within a bigger structure. This search for intercommunication responds at a vital problematic which appears when division and individuality appears in the different areas of a company. (more…)