Collaborative Minds Blog - page 11
Purchasing Manager’s day is full of efforts to handle purchase order requests, verify the details of requisitions, ensure policies compliance, correcting errors and finding out what went wrong. It is hard work and we should do something about that.
Before reading on, answer the following questions:
One of the basic elements of business operations is the function of sending and receiving payments. These departments are usually called accounts receivable and accounts payable, respectively. The accounts receivable department is, due to its very nature, one of the core aspects of business functioning. Doing business is a process of transactions whereby a business provides a product or service and a customer pays for said product or service.
(more…)In today’s global competitive environment, businesses need to stay on top of their operational efficiencies and deliver the best possible experience to their customers. This means the need to work with a variety of partners, from those providing you with product components and spare parts, to those co-delivering and co-maintaining your solutions. Such complex communications and data need to be orchestrated within a single supply management solution that also covers:
(more…)Whether your business is big or small, your sales agents use a bulk of both paper-based notes and technologies on a daily basis and it is crucial to ensure that every lead is handled properly and quickly. As your business grows or welcomes a work-from-home option, it becomes even more important to make sure that your sales agents are effective and deliver as many sales as possible.
(more…)As your business grows, you welcome new ways of revenue generation, from better customer order management and up-selling to welcoming new marketing channels and penetrating new markets. COVID-19 pandemic and its impact on customer behavior and demand are forcing businesses to pay much more attention to new market opportunities. And it becomes even more important to make sure that your team is able to transform ideas into revenue-generating offerings quickly.
Consider this scenario:
You’re spearheading a research and development project. A problem crops up, and the client wants the cause investigated. You tell her she’ll get the details in the next monthly meeting. Because your plate is already brimming, you assign the task to a team member. The next meeting comes, and the client asks for the details you promised. Sitting next to you, quite visibly shaken and all color drained from his face, is the person you assigned the task to.
Even without uttering a single word, you know that the task hasn’t been carried out, but, in your mind, the more pressing question is: How could you possibly have forgotten about this very important task?
Technology continues to advance at a rapid rate and with it, we must expand our knowledge base and vocabulary along with it. Many people are familiar with the concept of business process management, or BPM, but in today’s business environment, it is important to become familiar with intelligent business process management or iBPM.
(more…)Effective finance process management is the backbone of any successful organization. From managing day-to-day transactions to strategic financial planning, a well-defined finance business process is crucial for financial stability and growth. This article explores the key components of a strong financial function, providing insights into financial processes and procedures that can significantly improve finance processes and ultimately drive profitability.
(more…)SharePoint is one of the most popular workflow automation suites and it is popular because it is flexible and has a range of uses. This software is the latest incarnation of what used to be Microsoft FrontPage and it has had a variety of new releases in the past few decades.
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