How to Maximize Your Workflow

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Automating assignments translates into a feature known as “workflows.”  Workflows unite the work of separate departments or users into one universal process. We will cover all topics about how workflows can save time in your budgeting process, specifically when it comes to common ones such as month-end close reports.

Assignment workflows mold the foundation of an organized planning process.  Assignments involve an input template with specific dimensions to users in the company. Importantly, the status of the assignment should be traceable based on templates and users.  Given the complexities of organizations, automated workflows should allow for further clarification.  In this case, the ability to add comments invites discussions and discussions drive participation, as well as an understanding of organizational goals and objectives.  This feature puts your company in the best position to collaborate while ensuring transparency and accuracy in creating the budget.


Workflows can also make other processes simpler.  Any budgeting process, from annual budgets and forecasts based on departments to payroll, can benefit from the automated assignment and approval features mentioned above. Even getting more specific, there isn’t a rule that says workflows can only be used in big, annual processes.  With the ability to assign multiple templates, users can create a workflow for personnel forms, travel budgets and other expenses.  Also, a user can build a workflow specifically for company strategy and goals.  A budgeting and planning solution with workflow features should also allow for templates that determine the parameters of the workflow, with different options for preset templates that users decide.  While applied mostly to budgeting and forecasting, workflows consists of different operational members adding pieces of information into a centralized template.  To be able to view, at a glance, all types of workflows can enable world-class decisions.


While much of the discussion so far has been dedicated to the actual features workflows encompass, it is also helpful to zoom out and envision the type of robust tool that can handle all this flexibility.  Cloud-based tools provide many opportunities to streamline several management processes.  A modern, dynamic budgeting tool will also provide a better, easier experience than older legacy reporters and consolidation tools that are complex, expensive to maintain and do not perform all expected tasks.  When considering budgeting and planning tools, the advantages cloud software pose are instrumental in maximizing the use of automation tools. Although a simple consolidation process doesn’t need automation, for larger organizations and/or multi-location organizations, automated workflows will remove the manual process of putting together a budget.  Please note that solutions with built-in workflows can pull numbers directly from the same, centralized source, like a data warehouse.  Generally, the perks of workflows and investing in solutions that come with them include time saved, increased accuracy and a shared vision of the company’s goals.

To read more about maximizing your workflows, click here.

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