Process World

As the year passes by we believe it is the right time to get insight into workflow management system trends shaping 2021 and to suggest some valuable ideas to improve your business efficiency. In recent years it has become common for CIOs to delve into workflow management through the lens of digital transformation, which is all about ensuring your business is ready to welcome the future and succeed. In this article, we’ll dive into the key workflow management trends in the digital transformation context and recollect the 2018-2020 trends that are still actual

Business process analysis is an important and not well-understood aspect of business management. The term refers to a set of methods used to track and learn about the efficiency of various business processes. It is a means by which one can determine how well their strategic planning is working and how well they are meeting any set goals.

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.

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.

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.

Workflow simulation is self-descriptive: it is the simulation of the steps of a work process from end to end. Users of simulation in business report high relevance of this approach for analyzing workflows. Meanwhile experts highlight that it is mostly focused on initial design of a workflow and less suitable for operational decision making and continuous workflow improvement. Here we describe benefits of a workflow simulation software for reliable support of operational decision in the context of workflow management. It can be particularly valuable when you have a workflow that you want to change, but you want to test out changes before putting them into everyday practice. Of course, the more accurately a workflow simulation mirrors the actual process it simulates, the more valuable it can be.