Traditional Practices Of Hierarchy Of Approvals
In order to take critical decisions, organizations often follow a hierarchy of approvals to ensure that new implementations are in-line with the corporate policies as well as regulatory compliances. This process of making a new decision is backed by a chain of paper-based documents that are circulated through the organizational hierarchy. This manual paper-based procedure on request-approval is not just error-prone and inefficient but also creates setbacks affecting productivity and work efficiency of organizations. Scenarios such as missing or misunderstood documents, accidental disclosure of confidential information, missed deadlines, or misplaced documents are not uncommon in any organization following paper-based internal processing. Reliance on such a paper-based communication may lead to potential breakdowns due to correspondence issues leading to a state of conundrum and mismanagement within the organization.Old School Methods Of Communication
In addition to paper-based communications, some organizations also rely on the old-school method of communication via e-mail attachments. Circulating forms created in Excel, or Acrobat to gather some information about project quotes, tender pricing, or an expense report is a common sight in organizations. These practices are also not free from errors. Missing attachments misspelled manual entries, and long hours lost in the manual compilation of the information gathered from different recipients are some overheads imposed by e-mail attachments used to gather information to assist in the process of request approval.The Famous IT Solutions
In order to get rid of all these issues, some organizations often switch to IT-solutions developed by an in-house team of dedicated staff equipped with IT-skills. Although a successful implementation of such an in-house developed software for paperless workflow management may provide an effective solution for the organizational practices can be fabricated into the functionality of the software as per requirement of the organization. Implementation of such a solution comes at a cost. First, the organization must have a staff with the required skill set to take up such an endeavor. Secondly, the cost and time involved in implementing such a system play a critical role in deciding the appropriateness of such solutions. Sometimes, they are either too costly or require a long time for implementation. In addition to that, there are the overheads of maintenance, regular updates, periodic upgrades, and platform compatibility. A dedicated team needs to be maintained to look after any issues that may crop up in the system. All these scenarios of request-approval management call for a paperless processing system that can streamline the tasks associated with the request-approval cycle.
Automate Request-Approval Workflow with Paperless Processing
Various departments such as Finance, Operations, Marketing, and HR, in an organization dealing in the financial sector, need to process various requests coming from internal as well as external resources. The information needs to be recorded, collected, routed, processed, tracked, and evaluated before it can be applied effectively in the decision making process. This requires a request-approval management system such as Comindware Tracker, based on a paperless workflow that is easily configurable and in-line with the business practices of the organization. Such paperless processing allows administrators to create customized forms for specific requests, generate regulatory rules for workflow automation processes, and route requests to destined personnel. In other words, a paperless processing system such as Comindware Tracker provides basic tools to the organizations to develop process workflows in compliance with present business rules and organizational practices. Comindware Tracker can greatly ease out the process of approval workflow by:- Providing tools to configure web forms required for approval workflow to handle various approval processes such as capital expenditure approval, tender quote approval, and much more
- Providing easy medium to Instantly change specific workflow and form designs on-the-fly
- Providing a platform for unified management of data and documents
- Facilitating a tool to monitor the progress of a request in a request-approval cycle.
- Ensuring easy and reliable document tracking.
Organizations can tailor the paperless workflow facilitated by Comindware Tracker as per their specific needs. This saves organizations from a lot of conundrum associated with the request approval process. Comindware Tracker provides an effective solution to manage request approval workflows.
