Collaborative Minds Blog - page 16

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.

Signing off on capital expenditure decisions is critical for sustainable growth and maintaining a competitive edge. However, manual or outdated CapEx approval processes often lead to delays, lack of transparency, budget overruns, and compliance risks. To thrive in 2024-2025, organizations need a streamlined, automated, and transparent approach. Using best practices in CapEx management, along with the right technology, changes this important function. It turns a bottleneck into a strategic advantage.

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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.

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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:

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