There are many ways to define a workflow, but, put simply, it’s the organization of work so you can see how it should move from one stage to the next. Today's episode we discuss key elements to consider when it comes to workflow. Most firms have recognized the importance of workflow software, but few have it fully implemented, let alone reaping the benefits of it. The benefits are there, and it'll be worth the pain of change in the short term.

Below is the content of the document Penny referenced regarding workflow:

Workflow There are many ways to define a workflow, but, put simply, it’s the organization of work so you can see how it should move from one stage to the next. A clear workflow gives every team member involved the opportunity to see all the steps and plan their own tasks accordingly. It also gives the operations or project manager a high-level view to help keep things running smoothly. Still, having it laid out in a graphic really isn’t enough to support a successful remote workflow.  

• It will decentralize the work and the information 
• Increase visibility 
• Streamline collaboration—automate routing of information 
• Less chances of repeating conversations over and over again 
• A quicker search capacity for conversations 
• Less need to rely on memory  
• Ultimately better teamwork  

Example: Monthly Reconciliation is not just a recon of a bank account 

• You need to allocate or (old school) input transactions 
• Gather the statements 
• Confirm any unknowns 
• Check for any new accounts 
• Look for any app inputs 
• Create final report 

All that seems simple enough.  But if it is so simple and easy to know why are so many not done? Workflow with checklists can define the why of work not getting done which allows you to then correct it by finding the stop gap and removing it.  Good workflow should be  

• Customizable 
• Bring EVERYTHING into one place--- internal and external work 
• Allow for sharing easily  
• Automate repetitive steps 
• Reduce delays 
• Have great reporting on what when where and how 
• Be adaptable to Changes (it does after all point out when change is needed) 

If you'd like to pick our brains on workflow software or ask us any questions (including to share feedback), please connect with us on LinkedIn or Twitter. And remember to rate us, like us and share us, so we can spread the word.

Penny Breslin - LinkedIn | @PennyB57

Damien Greathead - LinkedIn | @Damien_GH