Workflow Components

LeaseWave® is built ground-up with a workflow that automates any process associated with the front office or back office. It is built such that the degree of automation (i.e. the desired mix of automation vs. manual intervention) is determined by the user. This mix can change as needed over time, as the leasing organization changes or evolves, whether in reaction to market conditions, business requirements or adjustments in personnel make up.

Key benefits

  • Streamlines decision making while adhering to proper procedures and controls
  • Integrates outside stakeholders (such as vendors, brokers, funding sources and lessees)into processes
  • Improves timeliness and consistency of internal communications between employees and across departments
  • Allows for continuous process / efficiency improvements through metrics-based feedback on performance

Key design features

  • Create unlimited workflows, based on any subjective and objective criteria
  • Configure automated and semi-automated processes
  • Obtain real-time process visibility for end-users (process monitoring)
  • Identify bottlenecks continuously in order to optimize processes and refine decision making processes – whether in the front or back office
  • Apply intelligent user security that dynamically adjusts based on where a transaction is in the workflow
  • Automate notification through triggers (the occurrence of any event) within or outside of a workflow
  • Integrate readily to transfer information to or from third party systems (i.e. CRM,credit bureaus, lien searches and filings, sales tax, property tax, G/L)

Key workflow components

  • The workflow configuration process in LeaseWave® allows for tremendous flexibility when setting up any decision-making process; importantly, once set up, the system is designed to allow for ease in ongoing configuration to continuously fine tune and improve processes. Each process can have an unlimited number of workflows defined against it. Configuration is based on the establishment of Conditions, Tasks, Automated Procedures, Notifications and Status.
    • Steps: A stopping point for a transaction within a workflow is a step. Transactions can be accessed for manual intervention when inside a step. Users / Roles can be given field-based security access to information
    • Decisions: The direction of a transaction, as it traverses a workflow is determined by decisions, either manual or automatic
    • Conditions: A condition is a business rule that can be used for evaluation while making automated or manual decisions. The workflow allows for easy definition of conditions; any field stored in the system can be used in conditions
    • Tasks: A task is a manual activity that needs to be carried out, outside the system, and indicated as completed, conditionally completed or not completed within the system. The requirement for tasks and /or their completion can be set up to be sensitive to both business rules as well as the stage at which they are needed in the workflow. Tasks can be added or over-ridden on an ad-hoc basis by users with the requisite authority and assigned to certain users or roles
    • Automated Procedures: Any activity that needs to be automated whether within the system or outside it is set up as an auto-procedure. Typical examples include getting information from third party systems, such as credit bureaus. The workflow comes with standard auto-procedures. Additional auto procedures may be customized individually by end-users or, based on the complexity, by Odessa. This feature in the workflow accommodates any type of integration with third party systems, including functioning as a trigger for events and procedures in the other systems
    • Notification: The occurrence of any event within a workflow can be used as a trigger for notification to internal or external parties. Recipients of notifications can be defined as individual users, roles or defined user groups. The workflow has an internal notification system that allows users to communicate with each other online. Automated emails containing the relevant information and attachments and directions for response can also be sent out as notifications. History / audit tracking is maintained for each notification sent; receipt of notification can also be tracked and maintained if desired
    • Status: A user defined collection of steps can be combined into a status. Auto procedures, as described above, conditions, notifications, tasks and other business rules can be triggered based on the transition into or out of any given status