THE NEW NORMAL REQUIRES SMARTER WAYS TO WORK.
Business requirements are changing rapidly resulting in the transformation of business processes. As such, organizations are moving toward broader workflow automation across all business operations with the advent of IT and IT-enabled services and products.
Workflow Automation helps speed up processes, improve communication between different systems, and operational efficiencies.
The key is to optimize processes by replacing manual tasks with software that executes all or part of a process. Smart workflows for the Finance function would include integrating processes like Payroll, HRMS, CRM, Sales, Inventory, and Logistics with accounting and finance modules using AI, digitization and eliminating manual intervention.
SMART WORKFLOWS - NEED OF THE HOUR!!
OUR APPROACH TO LAY THE BASIC EDIFICE OF SMART WORKFLOWS!
TIME MANAGEMENT: TIME IS MONEY
A time tracking software that allows businesses to monitor time charged and gives instant visual data reporting. Armed with this real-time information, it enables actionable decisions.
No Wi-Fi? No problem – not with TSheets. Its mobile app can track time even when cell phone coverage is unavailable. Management can create or modify schedules from the app, giving employees real-time updates.
PROJECT MANAGEMENT: EVERY PROJECT IS DIFFERENT!!
Ideal for short-term projects of any size. Its built-in reporting capabilities can be customized to add milestones.
A cloud-based platform, Asana helps teams get organized in one shared online space. Viewers can observe tasks in a list view, and know which ones take priority.
No two Mondays – or any workdays – are alike. Monday.com understands that most people are visual. Thus, it provides vibrant color-coded graphics to indicate how the workflow is progressing.
Manage all projects – regardless of scope and scale – with this innovative tool. Like Monday.com, it embraces color coding when it sorts tasks and monitors progress.
FINANCIAL PLANNING & ANALYSIS (FP&A)
Effective Financial Planning and Analysis utilizes both quantitative and qualitative analyses of all operational aspects of a company to evaluate the company’s progress toward achieving its goals and to map out future goals and plans. FP&A handles and intelligently analyzes a mountain of different types of data and data evaluation metrics. Thus, tools are major game-changers for FP&A.
An undisputed leader in enterprise cloud applications, Workday is a flexible tool that allows you to plan and model in real time. This AI-powered platform allows businesses to enhance their management processes firmwide. It also allows organizations to monitor tasks throughout the entire planning cycle.
This SaaS Enterprise Performance Management platform has a large ecosystem and can easily manage the integration of a solution. It streamlines planning – whether financial or operational – and improves data management.
The Key is to identify the tools best suited for your organizational needs, then follow with building workflows between various tools to seamlessly integrate with your ERP. Implementation must be error-free to ensure that your business needs are met and you get a comprehensive view of real-time data.
Learn how Astute can provide innovative solutions in accounting to help you!