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Centralization and automation of a process within workflow not only enables improved efficiency and quality, but it adds an important level of rigor, process control, and transparency that enhances overall management of the process.
OPI offers web-based Workflow technology that enables the automation of important finance and accounting functions that currently take place outside of a company’s ERP system. By overlaying a customized rules-based framework atop a process, workflow allows for the end-to-end management and reporting of functions that require input and processing from multiple people and systems.
While workflow cannot and should not be applied to all finance, accounting, and analytics processes, there are many functions that greatly benefit. Common applications for workflow range from invoice approval routing, to collections, to employee data and benefits administration, to tax compliance preparation.
Customized Automation
Each of our workflow solutions are developed to fit the requirements of the specific client’s people, processes, and technologies. We designate the desired data validations, process flow routing, business rules, deadlines, and other variables to ensure timely and appropriate automation of each process, from beginning to end.
Work items can be configured to trigger secondary processes, to auto-process after a delay, or automatically escalate for follow-up. Within the workflow system, no work item is ever lost in processing. The function can be fully managed throughout the lifecycle and reporting can be set-up to offer insight into work item status and overall process performance.
Compliance and Control
Workflow is rules-based and, by design, it restricts the processing of work items outside of the system. This improves process control, ensures compliance with all designated SOX and regulatory requirements, and allows for the full tracking and auditing of all work items.
Company management can rest easy knowing that they are in full compliance with approval limits, processing authority, and that all duties are appropriately segregated.
Furthermore, management can now easily track and monitor the status of individual work items and well as the health of the entire process. Dashboard-based reports offer valuable metrics around costs, cycle times, resource utilization, and can also provide data for other functions such as cash management.
Exceptions ARE the Rule
There will always be work items that present exceptions to the rule. While workflow is rules-based, it is also extremely flexible and can be configured to handle a variation of sub-processes within a single process flow.
We integrate exception handling and resolution mechanisms into every workflow solution. Exceptions are identified in a timely manner and routed appropriately for resolution. With all exceptions easily tracked and monitored, management can not only ensure proper and complete follow-up, but they can also now work to address the root cause of these exceptions.
Technology Integration
Workflow technology is web-based and can be hosted by OPI or by our client. It easily integrates with most technologies – from document imaging to ERP systems – and data can be delivered to these systems through full two-way integration or batch data files. For example, many companies utilize document imaging up front in a process, then route the data through workflow, and finally deliver it to their ERP system.
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