Workflow
automation can help you eliminate errors, save time, increase profits and
reduce risk. However, a business needs to have the right compliance and
contract workflow solutions in place to ensure that the systems are implemented
as they should be. Choosing the right software means you can focus on your core
business activities while the compliance and contract workflow systems are
managed by the system itself. In short, your business will have the best of
both worlds.
A contract
workflow solution will automate processes that have a direct bearing on your
business. For example, if you sell products to customers at a retail store then
you need to process credit cards and orders. This process goes through several
layers of administrators and people before it reaches the customer. If you use
a manual process for all of these steps, then you risk making mistakes that can
cost you money. On the other hand, if you use contract workflows, then these
actions can be triggered by certain conditions and this reduces the risk of
making errors.
When using
contract workflows, it is important to identify what is required for each step
in the flow so that the system can be defined and executed as effectively as
possible. For example, it is pointless to have contract workflows that trigger
multiple images uploads when a photo upload occurs. A payment processor might
require an upload receipt to indicate that a payment has been received. You may
also want to identify the fields or locations in the data flow that are used frequently
and then set alert conditions on these fields or locations. Once you have done
this, any changes that need to be made to the system will be done in accordance
with your Apertures.
A Compliance and contract workflow system are a business Continuity Plan in that
it defines the procedures that will be in place if a business does not adhere
to the regulations laid out by the ERP project manager or the business
administrator. There are a number of considerations when it comes to setting up
this type of business continuity plan and the first thing to look at is the
risk factors associated with the business, which will include the risks that
could impact the business. These factors are then translated into a list of
business actions that need to be taken if the business as a whole does not
comply with the regulations.
