Best Practice Workflows
Workflow is the most important dimension of AP process automation, making it important to answer the following questions:
- How is it provided?
- How does it integrate with the ERP system?
- What best practices are embedded? How does it accommodate exceptions and variations?
- How are changes made and how do they impact the overall solution?
Workflow can be provided in three ways:
- Custom development (programming language or workflow development toolkit)
- Templates
- Complete productized workflows
With custom development, a team (IT or consulting) designs the workflows and uses a programming language to deliver them.
Workflow templates are typically supplied with a workflow toolkit or as "middleware". Templates consist of partially built workflows that address generic problems. For example, the toolkit may provide a template for claims processing, financial account management and AP. While they provide a starting point for workflow, they also require a team (IT or consulting) to customize the software, modifying and adding to the template code.
Customer-specific software relies on the team (IT or consulting) for workflow design and practices delivered, ERP integration, documentation, testing, training, supporting and upgrading the workflow software. New features, inevitable bug fixes and regular ERP upgrades require additional consulting or IT resources (and costs). They have a higher cost of acquisition and ownership.
Complete productized workflows embed best practices and
- Provide real-time ERP integration;
- Are configurable to meet requirements;
- Contain options that accommodate changes;
- Are documented, tested, certified with the ERP system;
- Offer learning services and on-line help;
- Are upgradeable by a standardized, tested, automated process; and
- Offer the lowest cost of acquisition and ownership.
Kofax Provides Complete, Productized Best Practice Workflows to Optimize Financial Processes
The MarkView Financial Suite's best practice workflows have transformed business practices and optimized financial processes for maximum benefit of the world's leading organizations. In doing so, they have streamlined processes, strengthened internal controls, simplified the audit process and realized significant productivity gains in Finance and the lines of business, while dramatically reducing costs. In this era of increasing pressures on Finance professionals, having the right solution pays bottom-line dividends.
Click on the links below to learn more about MarkView Financial Process Automation solutions.
Imaging and Workflow
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