LeaseWave WorkFlow is a Web-Based workflow processing system that accelerates lease processing time, effectively manages other related processes, and optimizes workforce efficiencies in any decision making environment. Any workflow process, whether it be for the decision on lease applications or vendor payments (check requests), can be accommodated.
Specifically, WF allows for lease applications to go through an approval process prior to getting approved or declined. Any number of approval processes is flexibly set up to accurately adhere to the requirements of each organization. Rules, conditions and tasks can be defined very specifically to automatically determine the movement of an application. WF also comes with full document management capabilities and also allows document management to intelligently impact workflows. Pricing formulas can be defined and automated in the system. Credit decisioning can also be set up to be an automated function, while at the same time, allowing the user to exercise full manual control over it. WF allows for highly controlled security and role/user-access methodologies. Access rights are not only specific to a given workflow and certain information within a lease application, but can also be made specific to where in the workflow the given application might be. This multi-dimensional approach to defining security access allows companies, irrespective of the number of users involved, a powerful mechanism to control not only what information but, as importantly, when the user may access specified information. Approved applications can be automatically booked into the lease management system, with all the requisite accounting implications taken care of by the system.
The following graphic illustrates the components involved in the overall leasing process. As shown, Workflow Management affects both Lease Application Processing as well as Accounts Payable.
Any given task that needs to be automated, whether it be getting information from external third party systems, or gathering credit-scoring information, can be bundled into automated procedures. WF comes with standard auto-procedures that can be set up and used as needed. For example, tapping into credit bureaus in order to obtain credit information is an automated procedure. By bundling it into a procedure, WF allows users to determine exactly when and under what circumstances in a given workflow that procedure needs to be used. As opposed to hard coding this functionality, WF allows for the flexibility to use it as and when it may be appropriate for each company. Like this, there are numerous other auto-procedures that come with the system. Others that may be unique to a given customer can be customized individually, or even incorporated with existing systems already in place. This feature in WF allows for an unprecedented approach to accommodating for any type of integration or interface with other third party systems, including functioning as a trigger for events and procedures in other systems.
