Streamline Administration With A Remote Workforce Management Solution

 At a time when remote working has become an essential part of most businesses, employee management has become difficult for organizations. To have a seamless workflow and to manage the remote workforce efficiently, companies should implement cutting-edge Workforce Management Software. 

A WFM Software like iWorkRemote is suitable for all businesses that are using manual employee management methods. With such a solution teams can assign tasks, track employee attendance, monitor work status, and more resulting in seamless work administration. 

Implementing a Remote Workforce Management solution enables organizations to overcome the limitations of resource management, promote transparency, accountability and boost efficiency.

There are various reasons to incorporate WFM Software in business setup:

1. Attendance Tracking 

While employers were earlier leveraging punch sensors and machines to track employee in and out timings, the time tracker in a Workforce Management Software enables teams to monitor the attendance of an employee based on his/her virtual availability. By implementing this, the HR department will be able to monitor data related to employee login-hours, current status, scheduled breaks improving payroll accuracy and bringing transparency.

2. Staff Scheduling

In absence of WFM Software, an organization's staff scheduling is often time-consuming, inefficient, and leaves businesses understaffed in emergent needs. With an advanced workforce management solution, companies can automate staffing needs based on employee applied leaves, available workload, and sanctioning possibilities. 

3. Forecasting and Budgeting

The human resource requirements of companies vary on a project-to-project basis. With forecasting and budgeting features, organizations can predict/analyze how much staff they would need at a certain time of the year and the budget that would be required for the same. This helps businesses in optimizing staff/budget as per project needs.

4. Payroll Management

Using an automated payroll generation system that can save time for the HR department. A WFM software helps in generating audit-ready custom reports and allows syncing with employee timesheets making the payroll process simpler and quicker. This helps employers to pay on an instant basis enhancing employee satisfaction levels.

Bottomline

Managing a workforce remotely without WFM Software often leads to low employee efficiency, lack of transparency as employers are not able to track work status and view reports in real-time. Implementing a Remote Workforce Management Solution helps in attendance tracking, work scheduling, payroll management, and decision making solving the various challenges with a remote workforce.

Overcoming Lending Challenges with a Loan Management System

 Lending is an essential activity for financial institutions including Banks and NBFCs and should be fairly simple to manage. However, it is full of hassles in organizations that use traditional Loan Management Software. This is because outdated software lacks automation capabilities that make the process complex.

As the customer base of an organization increases, it should look for ways to streamline the lending process. Implementing an advanced Loan Management System helps in automating the entire loan lifecycle and solves most of the lending challenges including slow loan approval, NPA recovery, EMI Scheduling, etc.

Institutions can address most of the challenges through integrated Loan Servicing Software, here are a few of them:

1. Centralizing System

Banks and NBFC’s use calendars, spreadsheets, and notebooks to monitor sales opportunities. However, since there is a lack of a centralized system, users face inconvenience in switching apps. Moreover, since traditional systems lack automation and forecasting capabilities, the lending process is often cumbersome. An integrated Loan Software provides institutions with the capabilities they need to keep a unified view of all lending activities.

2. Optimizing Loan Origination

The process of loan closing can take months in financial institutions as it has to be passed from business development officers to analysts, and senior officials. This leads to a substantial delay in loan approval adding to the inconvenience of a customer. A Loan Management Software like LoansNeo captures customer credit scores, previous bank reports, and filters out the most suitable loan requests. Since the workflow is automated, organizations provide fast loan approval.

3. Monitoring Customer Journey

In traditional Loan Management Systems, institutions are not able to view loan requests,  lending status, track leads, and forecasts all at one place. Modern Loan Servicing Software built on Salesforce allows users to keep track of new prospects as well as existing customers. By leveraging visual charts, graphs, auto-generated reports, real-time analytics, and payment insights users can make decisions in a quick time frame and engage with uses on various social platforms.

Bottomline

Lending is a day-to-day activity for financial organizations. Institutions that rely on manual practices or use traditional Loan Management System should incorporate advanced lending software. Damco’s LoansNeo is one such software that leverages advanced analytics and smart automation capabilities which make customer acquisition and loan management easy jobs for lenders.

5 Common Salesforce Integration Patterns You Should Know

Salesforce enables businesses to manage diversified work and share data across the network. The platform contains built-in tools and integrations that make data easily accessible across departments. However, many businesses face data accessibility and collaboration issues due to which their productivity declines. 

If your business has scattered processes or is experiencing workflow issues in the existing system, consider availing Salesforce Integration Services of a partner. Salesforce Integration Partners help organizations to understand their goals by creating a full-proof integration plan. With the right integrations and an optimized CRM, businesses can improve data access between applications which boosts collaboration and allows users to engage better with customers on all platforms.

There are various types of integration one can do in Salesforce including Batch Integration, Real-time integration, AppExchange integration, and Real-time mashups.

Each of these integration types follows a standard structure as given below:

Applications (A) to Applications (B) — Object(s) — Pattern

A basic understanding of these patterns is essential for businesses to know about their integration scope and data requirements. Salesforce Integration Consultants follow these five common patterns mostly:

1. Simple Migration Pattern

The one-to-one migration structure is also known as a simple migration pattern in which data is transferred from third-party applications to Salesforce. This pattern is used to migrate data from legacy systems to Salesforce, consolidate CRM software, and back up customer master dataset. The advantage of this pattern is that it helps in keeping enterprise data safe from tools involved in migration. Another important benefit of this pattern is that it could be reused in multiple systems saving the time of Salesforce Integration Consultants.

2. Broadcast Pattern

While in simple migration, there is one-to-one data transfer, there is a one-to-many data transfer in broadcast pattern i.e. a single source transmits data to multiple systems at the same time. It is important in use cases involving data synchronization between diverse platforms like Salesforce, SAP, Dynamics, etc. The benefit of this integration pattern is that it allows for immediate data transfer between multiple systems saving the hassles of batch processing.

3. Accumulation Pattern

In this integration pattern, the data is extracted from multiple systems and then merged into a single application. Here data is collected/formatted firstly, the scope of source and data is identified thereafter and lastly, the data is merged. In the accumulation pattern, data remains up to date and there is no replication of original data. 

4. Two-Way Sync Pattern

The two-way sync integration pattern is used by Salesforce Integration Services providers when there is a need to keep data synchronization between two systems. Under this, users can update the same datasets in both systems. For instance, if one has to update shipping addresses in the ERP system and Salesforce, then a single change in one system can reflect the same change in another system as well. 

5. Correlation Pattern

Although the correlation pattern does not discover the origin of data objects, it synchronizes objects if they are found in both applications. This pattern is used when there are two groups/systems involved in data sharing and both have records that can represent the same items in reality.  This integration structure separates intersecting data sets and allows for bi-directional synchronization helping businesses to utilize data across applications.

Bottomline

Salesforce Integration Services allows organizations to centralize data for usage across departments. By utilizing the above integration patterns, firms can have the best data management and synchronization between apps. With the right integrations, users can switch between apps, respond quickly to customer queries and share data seamlessly adding to organizational efficiency.