Emakin To Offer New Purchasing Order App

With the upcoming release of the emakin Purchase Order app, we wanted to provide a clear explanation of purchase order processes and illustrate why they are so critical to the success of an enterprise. To begin with purchase orders are legally binding documents sent from the buyer to the seller. It describes the items, either products or services, which the buyer agrees to purchase, the quantity and the price. It also outlines the delivery date and terms of payment for the buyer. If the purchase order is accepted by the seller, it then forms a contract between the buyer and seller. It is thus used to control the purchasing of products and services from external suppliers. The more specific the order, the more details will have to be included in the purchase order.

Such orders are generally used when the buyer has an account with the seller from which they want to obtain the goods or services. Since the supplier delivers the purchased items before payment has been received, the PO serves as risk protection since, if the buyer refuses payment, the PO is a legally binding contract between both parties. As such, payment orders are similar to invoices in that they both contain similar information, except that the invoice is prepared by the seller and contains the PO number for reference purposes. The only difference is that invoices generally contain less technical details which are contained in the PO.

Companies which have a working relationship may discontinue using purchase orders in order to speed things up. This is all well and good as long as the specific needs of the both parties are understood by both sides and the items are received on time. But foregoing purchase orders obviously brings with it an inherent danger in the event of a dispute. To begin with, being able to reference the PO can provide an important starting point for identifying where an apparent error may have originated. There are, however, other clear benefits to using a PO app in addition to the legal security it provides.

Using a paper-based procurement process involves generating a lot of excessive documents. Companies will usually process roughly half a dozen documents during a purchasing cycle, including requisitions, purchase orders, quotations, order acknowledgments, advice notes, goods-received notes and invoices. In short, a multitude of documents to create and keep track of for just a single purchase.

The emakin Purchase Order application will give you the information and tools you need to better control your purchasing process, as well as your cash flow. By digitizing the PO process, you can quickly see your obligations to your suppliers, and you can generate push notifications to pay your invoices on time. It is also a good way to avoid overspending by setting spending limits. With the codes generated by the app, the PO can easily be integrated into your company’s accounting processes.

The new application will be available on the emakin App Store in early December.

Emakin Offers Flexible and Free Quality Management

With emakin business applications, organizations can build their own QM system using only the apps which they need. The different apps, which will be briefly explained here, are intelligent apps running on the same domain. In combination with one another, emakin business apps cover all the areas of QM – planning, assurance, control and improvement. For organizations looking for a simple yet effective solution, such as SMBs, emakin is ideal, in particular due to the fact that an emakin domain is free to register and all applications are currently free to use commercially.

The Quality Document Management application is where quality system documents can be stored and accessed. By means of the integrated smart form, procedures and instructions can be prepared and edited with ease. As such, it supports all four QM areas since it serves as a repository for documents pertaining to planning, prevention, correction and assessment.

At its most basic level, QA revolves around the actions for ensuring and maintaining a level of quality in the production of products. It is, therefore, a preventive and a proactive approach. The Corrective and Preventive Action (CAPA) application helps ensure quality by making sure that staff comply with standard policies and practices and it alerts in cases where corrective measures need to be undertaken. It comprises root cause analysis, workflow notifications to track the status of problems, and action verification to review the progress regularly and initiate follow-up procedures. A further Service Desk application makes the reporting of internal issues easy for staff. This is a further way to ensure quality within the organization from a bottom-up approach.

Quality control, on the other hand, seeks to ensure quality in those products by recognizing defects in the actual products. QC thus aims to identify and correct such defects and is, as such, a reactive approach. The Customer Complaint app makes it easy to track all types of customer complaints. Similar to the CAPA app, the complaint app tracks the status of the problem and monitors the progress to ensure the resolution of the problem. Knowing what your customers want from you and where your organization needs to make adjustments will strengthen your competitive edge. By tracking the status of each complaint, you can also make sure that your customers are being served to their complete satisfaction.

By running all of the above-mentioned apps, an organization can achieve TQM which is not only comprehensive and user-friendly, but which will not cost them a penny.

Banking on BPM: The Virtues of Process Automation

BPM technology is finding ever increasing deployment at banks both large and small and there are five big reasons why: for standardizing processes, ensuring compliance, boosting efficiency, raising capacity and minimizing loss. I spoke with one senior bank executive to see if the hype surrounding the virtues of BPM holds true.

Codifying Processes
Any bank employee who has ever dealt with commercial loan documentation knows it can be a nightmare if there is no structured process for loan approval. In such cases, following approval loan officers will often delve into their own dark processes in order to generate loan documentation. For such banks, codifying the process and getting everyone to do things in the same structured way is a crucial objective, which has an enormous kickback effect.

Ensuring Compliance
With many types of organizations, process modeling is primarily about gaining and maintaining efficiency. With banks, however, dark processes can result in non-compliance, both with existing laws and with internal policies put in place to ensure safe lending practices. Either type of negligence can lead to legal exposure, risky loans, and profit loss.

Automating the loan-generation process can reduce and probably even eliminate non-compliance. Relationship managers, loan officers, and clerks are all funneled into the same codified, automated process, the outcome being not only greater efficiency, but also greater safety.

Boosting Efficiency
Prior to BPM deployment, the process of generating transactional documentation had been inefficient at many banks, and hence, overly costly. Much of this inefficiency was be attributed to the dark processes, which frequently involved an ad hoc approach to document production.

Automating the generation of transactional documentation is arguably the most cost-effective type of business-process modeling for banks because it drastically increases efficiency. Many banks report reducing the time necessary for generating loan documentation from days to hours, or in some cases, minutes. Yılmaz Çeliker, Product Development and Marketing Supervisor at Near East Bank in Cyprus, says that using emakin BPM has “phenomenally reduced the processing time required for handling loan applications”.

Raising Capacity
Efficiency obviously exerts a direct influence on an organization’s workload capacity. The more efficiently tasks are carried out, the more manpower is left over for handling new tasks. This reported rise in efficiency has, therefore, led to an increase in the banks’ ability to process more loan applications. Banks have even reported a staggering 400% rise in the volume of applications handled by the bank thanks to the deployment of BPM.

Loss Mitigation
Relying on human input in complex, challenging processes can be, to put it quite mildly, a risky venture. In the case of a a commercial lending agreement there could be a hundred pages or more and virtually countless variables. It might also require really complex business logic to include/exclude language blocks, could involve multiple levels of repeating text, and so forth. With this level of complexity, no amount of proofreading is going to eliminate the possibility that something could get missed, and that particular something could leave the bank exposed to millions of dollars.

For a lending institution, transforming its transactional documents into a process application with accurate and complete business logic and an interactive, structured data-gathering sequence can virtually eliminate human error and a hefty amount of legal exposure. According to Mr. Çeliker, emakin BPM has had a “tremendous effect on error management” at Near East Bank. If an error is nevertheless detected, either by the application or a user, the appropriate signals are given by the application to lead to the speediest resolution of the problem leading to a lower loss than would otherwise have been the case. The status of the rectification process is then accessible every step of the way.

The Solution
Since banks have the need for many types of process automation, particularly with regards to document-generation, automating the loan-generation process with an enterprise-wide deployment of emakin BPM will dramatically improve efficiency while simultaneously boosting capacity, improving compliance and reducing risk.

2014-08-26 09:53:38BPM vs. ROIThere are many advantages of using Business Process Management (BPM) over a Return On Investment (ROI) methodology, as using a BPM solution allows companies to focus their business systems with the customer in mind. When a business is using a proper process management system, they can track and monitor their movement forward while being effective and productive. The focus is also on how the business is delivering value to the customer, rather than an ROI strategy, which simply focuses on the numbers.

An ROI strategy certainly has its benefits as well. ROI strategies are results based and you don’t need a structured business in order to see success. ROI projects help improve data driven statistics which principally focus on improving the numbers. An ROI based system can help systemize a business and remove unwanted programs and it’s very clear when a project is successful if ROI is tracked correctly.

A BPM approach however continues to improve the process of how the business is run. Every process and system in the business is monitored and improved to stay ahead of the game. This means that an approach will not stagnate, however an ROI approach might get stuck because there is no reason to improve ROI further if it is already profitable.

“The focus will become the customer”

Using a PBM approach means the business will develop its processes to run smoothly and efficiently. The focus will become the customer and how much value is provided, and how the business can better manage its processes so it keeps improving in this area. An ROI approach simply focuses on the number and tries to focus on improving the profits of the overall business.

A BPM approach also focuses on reducing costs whereas an ROI approach only focuses on improving profits. When using an ROI approach its possible to cut costs and improve ROI that way, however when using a BPM approach that idea is built into the fabric of the strategy. BPM aims to improve productivity and streamline processes so they become more efficient.

The effect of a BPM system is a more cost efficient and systemized business, which is focused on improved services to customers and promotes faster business growth. This is why implementing a BPM strategy into a business will always see more success than the investment of installing a strategy.

We have Business Process Management experts who can help you install this system into your business so it runs smoothly and improves the quality of your services and the efficiency of your business. Any investment that you would have to pay to get someone to install this system would far be outweighed by the benefits and profits a business would get after implementing this system. Therefore the ROI for BPM solutions is indeed very high.

The Emakin Contract Management Application

“Oh yes, now where was it again?” is a phrase which you obviously don’t want associated with your important business documents (although we’re probably all guilty of having uttered the phrase on more than one occasion). Sifting through tons of loose papers is an old-fashioned form of mismanagement which has been replaced by scanning hard disk files to locate a specific document. Efficient organization is one of the main pillars of any solid business should obviously be practiced stringently when it comes to key business activities such as contractual agreements. That’s why we developed the contract management app. With it you can generate, implement, and track the current status of contracts. By getting all your contracts well under control you enhance your organization’s performance while you simultaneously and, just as importantly, minimize risks.

This application puts your clients’ contracts within a click’s reach, and it manages and tracks each contract in an efficient and effective way. You can track your entire contract management process from start to finish. What’s more, through the creation of a personal contract repository, the app reduces the amount of time wasted on creating entirely new contracts from scratch since you can edit and save any contract as a template for future use.

The app also provides an effective way of building statistical data by sending automated informational emails. The sending process easily is easily automated via the user interface and it’s possible to track your historical data by setting up a new subscriber auto responder. This allows all approval mechanisms and sub-steps to be followed on the same platform. It likewise allows different users to be able to actively track all running processes.

Emakin’s Contract Management app is ideal for any organization that strives to excel in measuring and tracking its contracts, providing the means to measure performance with regards to procurement processes in addition to making a massive contribution towards establishing mutually beneficial partnerships.

 

 

 

What a Business Process is NOT

Since the industrial age, companies have been organized according to what is now considered to be the traditional way. The very education we receive, the job descriptions on our business cards, the career paths we choose are essentially all task-based. Therefore, the tasks we have accomplished doing our jobs gained importance, and we have come to perceive our tasks as business processes. Tasks are innate to an individual or a department and fulfilling a task requires a distinct talent or expertise. In fact, definitions such as customer service, production, logistics, finance, and so on all define what a task is, not what a business process is.

For instance, in order to complete an order for a chair there needs to be the receiving of the order by the sales department, the collection and distribution of materials by the logistics department, the assembly of the chair by production, the shipment of the chair to the customer by the transport department, the invoicing by accounting, and the handling all possible further matters by after sales support. If you define your entire business process as being one of the aforementioned tasks, things get tricky due to the general perception of tasks. Since the way we do business has been task-based for so many years, we have, as a result, designed our tasks to function independently. Therefore, we constantly build thick walls in order to control our inputs and outputs.

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