Approval Workflow Software Take Approvals To Peak Efficiency Levels

softwarebuck April 25, 2021 0 Comments

When employees and supervisors spend more time tracking down paperwork,

sharing Word or Excel documents, managing emails, making phone calls thandoing real work, it’s a sign your approval workflow needs to be automated.Approval workflow can be a challenge for large and small organizations sincemany departments still rely on manual, inefficient ways of making approvalrequests and providing sign-off. Also, these processes don’t provide thetransparency and audit trails needed.Usually, departments and business units are left on their own to come up withtheir approval processes. This is for a few reasons: 1. Approval processes are unique to each department. 2. IT departments are overwhelmed. 3. A lack of departmental technical expertise. 4. A lack of knowledge about potential software solutions.We’ll cover ways that you can begin automating approvals efficiently andproactively.

Approval Workflow Example

Here is an example of an approval workflow that has been automated using ourapproval management software. In this case, our customer needed a way toautomate their capital expenditure approval workflow. As you can see (clickthe image for a larger version), their approval process was multi-tiered andrequired numerous approvals for every request. However, they were able tobuild this custom process quickly, including all the forms involved.* * *(Click for Larger)* * *

Automate Any Approval Workflow

To see how quickly you can begin automating your processes, request ademonstration or trial of Integrify.* * *Get a Free DemoBest Workflow Approval Software“Time is money.” You’ve heard it before, but when you see it in actionwithin your business, the phrase hits home. Every business relies on sets ofprocesses to operate smoothly. Any time a process is delayed, it could resultin high costs. So, the implementation of workflow approval software can saveyour business, employees and customers a lot of time, which, as you know,results in a more definite bottom line. Since workflow approval software is so successful at saving businesses timeand achieving results, the market is indeed saturated. To best assess the typeof software that will benefit your business, we will dive into everything youneed to know about workflow approval software and evaluate some options.Â

What is the Approval Process?Â

An approval process is a method by which information flows through anorganisation and requires approvals to move to the next subsequent step. Itrequires input from various levels within an organisation, and as such,approval processes must be designed for efficiency. Approval processes arevital in everyday processes that deal with invoices, budgets, purchase ordersand even the creation of new processes. No matter the process, multiple people will be involved and required to takeaction. As such, approval processes entail: submission documents, approvers,permission levels, timeframes and logs. Because an approval process relies ondata, information and workflow, approval software can significantly help tocarry out such processes.Â

Examples: Workflow Approvals in ActionÂ

All departments and managers within an organisation can benefit from workflowapproval software. That’s because approval processes take place in eachdepartment. Here’s a look at some examples of approval processes categorisedby work function:

Benefits of Approval Workflow Software

Approval processes are intended to work for a company not against it. Havingapproval workflow software opens the door to many benefits, including: * Streamlined processes with a reduction in the need for manual data entry * Faster approvals as the software help keep the process on track and remind users when approvals are needed * A reduction in errors or mistakenly approved requests * Improved compliance that adheres to industry regulations and stores audit trails * Minimised bottlenecks and critical person dependencies as information resides in a centralised and accessible systemÂ

Features Beyond Approval Workflows

There is software that goes above and beyond to provide even more benefits. Bygoing beyond just efficiency, these added features can be game-changers. * Approval Audit Trails: Audit trails are particularly important in highly regulated industries, like the financial industry, for example. Audit trails can provide a record for the entire history of approval, including who submits requests, what was requested, submission dates, permissions and responsible parties, communication and more. Automation tools like SolveXia offer an excellent solution for this. * Delegate Approvals: To prevent bottlenecks and critical person dependencies, you may be able to delegate approvers other than the primary responsible party. That way, if an important decision-maker is sick or on vacation, approvals will automatically move to the next in line person for review. * Continuous Improvement: With reporting tools, administrators can review a process’ efficiency. If there are gaps or holes in how a process is running, you can redesign a process and test it within the secure environment before rolling it out to enact continuous process improvement.Â

Best Software for Workflow ApprovalÂ

We made it to the best software for workflow approval section. Here, we willlook at some pros and cons of some of the most popular software solutions inthe market. * SolveXia: SolveXia is a rational, analytical automation software solution that provides teams with forecasting models and automation capabilities. Some of its main features include: collecting data from various sources and transforming it into highly valuable information, business reporting, risk metric analysis, building business processes and offering trend analysis. SolveXia is cloud-based, has bank-grade security and can maximise productivity ten-fold. * Monday: is a workflow/project management tool that allows teams to create boards and visually review tasks horizontally. It tracks the progress of a process from start to finish and uses colour coding to understand the status quickly. Many have likened it to a highly customisable Excel spreadsheet that can organise multiple projects at the same time. It also provides templates to work with so beginners can easily design processes. However, one of the downsides is that the update and notification system is highly manual and requires duplication of “pulses” or tasks to leave notes. Furthermore, the mobile view isn’t known to be very user-friendly. * Kissflow: Kissflow is used by many major corporations and small businesses alike across over 120 countries. As a business process management (BPM) tool, Kissflow offers: workflows, out-of-the-box set-up, advanced reporting, multiple language support, progress tracking, prebuilt reports, integration via Zapier and an app for both Android and iPhone. It’s hard to say anything negative about a product so well-made, but some users report that metrics could be better presented. ‍ * Wrike: Wrike is a robust project management tool with the option for customisation. Some of its top features include reporting features, Gantt charts, documentation management, tacking approvals, version control, task assignment and various views to work across teams. Wrike also integrates with many other tools like Office 365 and GDrive. However, some negative aspects are that you cannot choose a time frame for analytics, the set-up is relatively complicated, and depending on the level of your plan, it could be considered to be a costly option. * Integrify: Integrify is a workflow management software that doesn’t require coding to set up. Some of Integrify’s standout features include process builder, a form designer, reporting and KPIs, and API for integration. While the support team has been touted to be very helpful, some negative feedback about the software includes that it is complex to understand and lacks flexibility for information intake. Some users also hope for a more clean and user-friendly dashboard. * Flokzu: Flokzu is a cloud-based BPM that boasts a low-code solution for teams. Customers of Flokzu enjoy the fact that it’s so easy and fast to implement and get running. The per-user price makes it affordable, but some downsides have been that once a process has become complex with many branches, it’s hard to design the model. Additionally, users have found that when they try to “go back,” the system returns them to the home screen instead of their last screen. * TrackVia: TrackVia allows users to design workflows using drag-and-drop capabilities or add code for customisation. The starting price is $2,5000/month, which may be steep for small or medium-sized businesses. The software grants: mobile access, task management, access controls, calendar management, a customisable dashboard, integrations, compliance tracking and more. Although it can be an out-of-box solution, users have reported that it is complex and may require extra IT support to set up to be tailor-made. * Asana: Asana is a web-based project management tool that allows for easy tracking and collaboration between team members. Some of its features include task management, scheduling, workflow automation, document management, email integration and mobile access. On the other hands, some of its cons have been noted to include: the requirement to download an app for mobile usage, slow technical support, and less than an optimal security system. * Knack: Knack is an affordable and user-friendly tool that serves as a database maker. It works with existing software and boasts centralised workflows, notifications, and CSV data migration. While it has received a high rating for its value for money, there has been some negative feedback regarding customer support. * Zapier: Zapier connects web apps through “Zaps” to create workflows. You can set up and automate Zaps however you see fit. The most notable benefit of Zapier is that it can connect tons of apps to sync, which transforms it into a potent tool. Users find it easy to implement and edit if Zaps end up not working well. However, some downsides are that Zaps cannot be duplicated, the free version is limited, and it requires internal communication for team members to know that Zaps have been created.Â

Approval Workflow Software – Take Approvals To Peak Efficiency Levels

Ralph Waldo Emerson famously exclaimed, “How much of human life is lost inwaiting!”It’s almost criminally wasteful – waiting for the bus, waiting for a call,even waiting for approvals at the workplace!Thankfully, approvals can be optimized for speed and efficiency with the helpof workflow automation.

What is Approval Workflow Automation?

A majority of business processes require approvals from key positions beforethey can be completed. For such processes, businesses create approvalworkflows that sequentially lay out all the tasks involved. The surefire wayto improve the efficiency of approval workflows is to automate them usingworkflow management systems.

An Approval Workflow in Action

A typical example of an approval workflow is employee expense reports. Whenemployees incur expenses pertaining to work, they can either request funds inanticipation or claim reimbursements later. Either way, they need to submitexpense reports and supporting bills. * The process starts with an employee submitting an expense report to the head of his or her department. The head of department reviews and either approves it or sends it back to the employee for changes. Once approved, the report is forwarded to the finance department. * At the finance department, the authorized team member reviews the report. The finance team can also approve the amount for payment or request more clarifying information or changes. * In case there is a reimbursement claim included, the approved report is passed on to the payments team, which then proceeds to pay the employee through a cheque or account transfer. Alternately, if the employee has returned some part of the advance, the collections team receives and acknowledges the same.As you can see, a simple process like expense reports can involve many peopleand require multiple approvals. When workflow automation is not applied, suchprocesses can devolve into chaos and endless delays very easily.

The Need for Approval Workflow Software

Approvals can be much more efficient with the use of approval workflowsoftware. These applications are necessary for businesses to achieve * Streamlined processes and reduction of manual entry * Faster Approvals * Reduction in errors and improperly approved requests * Improved compliance with industry regulations and audit trails * Minimized delays and bottlenecksWithout approval workflow software, processes can tend to be inefficient,inaccurate, and time and effort intensive. Businesses that desire maximumefficiency invariably choose to invest in them.

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