1) Recognized for Outstanding Features and Functionality in 2023

CMW Platform has received the “Best Features and Functionality 2023” award from the review experts at GetApp. With an overall rating of 4.6 out of 5, CMW Platform stands as our dedication to delivering impactful solutions that help businesses succeed.

2) Implementation Speed Award 2023

We’re thrilled to announce that CMW Platform has been recognized for its swift implementation by our clients at G2. In the Business Process Management category, CMW Platform boasts the shortest go-live time, making it the go-to choice for businesses looking to streamline their processes efficiently.

3) Champion Medal in the SoftwareReviews 2023 BPM Emotional Footprint Market Report

CMW Platform is honored to have received the Champion Medal in the SoftwareReviews 2023 BPM Emotional Footprint Market Report. Emotional Footprint Champions are selected based exclusively on feedback provided by real users via SoftwareReviews’ comprehensive online survey. The survey measures user satisfaction across 27 elements of the provider relationship, including strategy, service experience, product experience, conflict resolution, and the contracting process.

“This award highlights the emotional connection we’ve forged with our users, reflecting our commitment to designing solutions that resonate positively. We will continue to provide the problem-solving customer care and regular product updates based on end user experience and transform them into features improvement roadmaps on our side” Michael Donaghey, Director of North American Operations, CMW Lab

4) CMW Platform Named Among the Top 5 BPM Software of 2023 by TechDogs

TechDogs, a tech media platform, has recognized CMW Platform as one of the “Top-5 BPM Software of 2023.” This acknowledgment reaffirms our status, dedicated to helping organizations excel in business process management.

“CMW Platform offers comprehensive and robust solutions covering all the steps from modeling to reporting and everything in between and more. It allows you to design, run and change business processes with an efficient drag-and-drop feature, simplifying the process for non-technical users. Additionally, the platform enables numerous integration options synergizing data exchanges between applications.” Editorial team, TechDogs

The post Starting Q3 with New Medals and Recognitions appeared first on CMW Lab Blog.

As document management software is in demand, you may be wondering what are the main trends in this segment and how they can benefit your business. In this article, we describe to you the newest trends in document management and how they can positively impact your bottom line.

Keep reading to know more.

A quick refresh: What is document management?

Back then, people would have filing cases filled to the brim with papers for all the documents for their business. These filing cases were often arranged alphabetically and required the expertise of an employee who was organized, detail-oriented, and neat. But now, things have changed.

Companies are opting to minimize physical documents because of how it can lead to bottlenecks in a workflow. Surveys have shown that employees can spend up to 2-3 hours a day searching for documents and this may not always prove to be fruitful. To turn to effectiveness, digital documents are what companies are using to streamline their workflow, minimize their carbon footprint, and secure their data.

One of the reasons your business can benefit from document management software is that it can simplify the lifecycle of a document in your company by automating its approval, storage and organizing. A feature that’s critical, especially for companies having business dealings in Europe, where the data privacy laws are stricter.

With document management software, you’ll have a tool that will help you automate your document workflow without significantly increasing your operating expenses. The best part? These platforms are constantly evolving to keep up with consumer demands.

Each document management platform is being augmented according to the trends of the software industry to provide clients with a flawless document management experience.

Document Management Trends

As we’ve mentioned above, document management platforms are evolving, and the best ones are keeping up with the trends to ensure that each customer gets top-notch software.

Here are some of the biggest trends that document management software providers are looking into.

Using cloud storage

The use of cloud storage in one’s process is revolutionizing the way people store and access documents – it’s creating smoother workflows.

Cloud storage is the practice of storing your data on a remote server. This enables your team to access the information they need at any time from wherever they may be. A benefit that can boost your company’s productivity without making huge changes to your digital infrastructure or budget.

Additionally, cloud-based document management providers implement security tools to ensure that your data is safe. Some of their most common security measures are as follows:

• Data encryption
• Software redundancy
• Intrusion Detection System (IDS)
• High-end firewalls
• Top-tier physical security
• 24/7 monitoring

Adopting AI

Cisco has stated that about five quintillion data bytes are produced daily. In your business alone, you can be sure that the number of documents generated, filled out, and stored are also high. This can lead to certain items falling through the cracks and getting mislabeled or incorrectly filled out.

Some document management software has started adopting AI into their process. This has led to a higher data accuracy rate, speedier manual task completion, and smarter document processing.

By entrusting an AI to handle manual tasks, you can divert personnel’s attention to higher-value tasks that can help grow the business.

In CMW Platform users are free to connect any AI-based third party software via fully Open API to put your document management on another level.

Making it mobile friendly

There are thousands of employees bringing their work with them on their travels as work-from-home and hybrid arrangements become a norm. One should also consider the advancement of smartphones and how employees are using these devices to accomplish their tasks while on the go.

Document management providers have considered this and aside from making their software cloud-based, they’ve also enhanced the structure to make it mobile-friendly for ease of use. The developers of these platforms have ensured that their programs can be viewed and manipulated seamlessly on any operating system, screen size, and browser.

Customers experience as a main priority

Customers across the globe are becoming more protective of their personal information and they’re looking for a company with a process that’s more thoughtful of their experience.

One way to get your clients more involved while also championing business transparency is by sharing their documents with them on a customer portal. It also fosters collaboration and communication, which greatly improves client-agency relationships.

Document management software providers have innovated their systems enough to allow you to share client information with them on a secure channel. This also allows your clients to edit any mistakes on their documents, comment on the project in a private channel, and have access to all the documents uploaded on this portal.

Improving customer experience also includes giving them the information they need to use all of your software’s features. This means writing informative articles about how to convert from PDF to Word and filling out an effective FAQ section.

Advanced search

A feature that the top document management software providers have is advanced search functionalities.

The advanced search functionality enables your employees to find the documents they need in a single interface, even if it’s located on a separate repository. Advanced search functions can increase productivity and boost efficiency with just a few clicks.

Enhancing security measures

Data stored in document management software is protected by stringent security measures that these providers enforce. Now, some of these software developers are taking it a step further by including blockchain technology in their process.

By using blockchain technology for the storage of sensitive data, information can be distributed without the chance of it being tampered with. Blockchain tech uses heavy encryptions to ensure that the information will only be seen by the target audience.

Easing integration

Businesses use multiple software to ensure that their business runs smoothly. This is why document management software developers must consider how easy it is to integrate their software into these other systems.

A seamless integration process can boost your team’s efficiency and foster collaboration between employees who are using different systems.

Nonetheless, it’s also clear that document management platforms that can easily be integrated into other systems can lead to better customer satisfaction due to the way it simplifies their business process.

Some companies have even taken integration a step further by linking their document management software with various communication tools such as messaging programs and emails, to enhance team productivity.

Designing with intent

Having software that’s designed intuitively is another reason why clients choose that document management system.

User experience plays heavily on productivity and with a good percentage of employees on hybrid or remote setup, you’ll want to make sure that they’re working with a sleek interface. This means that developers must lessen unnecessary features and create a platform that doesn’t look outdated.

Finding a document management software that keeps up with the trends

Finding a document management software that takes all your needs into consideration can be hard. You’ll want to make sure that you have an effective and customizable platform that can grow with your company, just like what CMW Platform Document Tracking software can do.

CMW Platform Document Tracking Solution is a flexible tool that allows you manage and control all the types of documents across the company as well as processes and teams involved. With the true low-code technology and powerful graphical engine you can easily create and modify your document processes without any interruption to your operations. Cloud-based deployment and fully Open API let you create a single digital environment for the efficient collaboration and tasks completion.

Take your document management above and beyond. Reach out to us today for a Demo.

The post Staying Ahead of the Market: Trends in Document Management appeared first on CMW Lab Blog.

In 2023, the market is brimming with innovative solutions that offer enhanced security, seamless integration, and advanced features. This article presents the top 10 document management software in 2023, ensuring you make an informed choice for your document management needs.

We evaluated document management software based on several key criteria to compile this list. These criteria include security, collaboration features, scalability, and integrations. Considering these factors, we ensure that the chosen software excels in basic document management functionality and advanced capabilities. Let’s look at the top 10 document management software in 2023.

CMW Platform

CMW Platform sets a new standard in document management by revolutionizing collaboration and increasing productivity with the power of low-code. Its comprehensive features, including centralized document management, version control, document process automation and advanced search , make it an ideal choice for teams and organizations of all sizes who are looking for a complex approach to building a document management system.

Documents and processes involved can be created, edited and shared in CMW Platfrom with drag and drop simplicity thanks to its graphical engine  ensuring seamless communication and real-time updates among team members.

With advanced encryption protocols, access controls, and user permissions, CMW Platform  ensures that only authorized personnel can access and modify documents. By adopting CMW Platform , businesses can streamline document workflows, enhance team collaboration, and drive success in today’s fast-paced digital landscape.

PaperSave

The world makes 300 million tons of paper annually. Document management solutions like PaperSave aims to address this by providing comprehensive document management and workflow automation solutions. It integrates seamlessly with Microsoft Dynamics and other popular platforms.

This tool offers features like document capture, OCR, version control, and robust security measures. It streamlines document retrieval and approval processes and ensures regulatory compliance. It also provides advanced metadata management capabilities, allowing users to categorize and tag documents with custom metadata fields.

Furthermore, PaperSave’s intuitive user interface and user-friendly navigation make it easy for both novice and experienced users to adapt to the platform quickly. With its intuitive design, users can seamlessly navigate through folders, access documents, and perform actions with minimal learning curve, maximizing productivity and user satisfaction.

ClickUp

ClickUp is a versatile project management tool that also includes robust document management features. It centralizes project-related files and fosters collaboration among team members.

This platform provides a user-friendly interface, document version control, real-time editing, and task-based document organization. It integrates with popular productivity tools, enhancing efficiency.

Users can easily search for specific documents based on keywords, tags, or filters. This saves time and improves document retrieval efficiency, especially when dealing with large document repositories.

Moreover, ClickUp’s document management features promote transparency and accountability by providing document activity logs and audit trails.

Templafy

Templafy is a document management platform that ensures consistent brand identity and compliance across all documents produced by an organization.

Its centralized template management system allows organizations to maintain control over their document templates, ensuring that all employees have access to up-to-date and compliant templates.

With smart document creation and dynamic content automation, Templafy streamlines the process of generating documents, reducing manual effort and minimizing the risk of errors in document creation.

M-Files

M-Files is an intelligent information management platform that simplifies document management and ensures secure access to critical files. Its AI-powered document indexing capabilities allow users to quickly search and retrieve documents based on their content, even if they are stored across multiple repositories.

The platform also incorporates automated workflows, streamlining document processes by automatically routing files for review, approval, or other actions, eliminating manual tasks and improving efficiency.

Its intelligent metadata management enables users to assign relevant metadata to documents automatically or through customizable templates. M-Files’ robust security features protect sensitive information by offering granular access controls, encryption, and audit trails.

Bit-AI

Bit-AI is a cutting-edge document management solution that harnesses the power of AI and machine learning algorithms to automate document organization, extraction, and data processing, eliminating the need for manual intervention.

By leveraging these technologies, Bit-AI streamlines document handling processes and significantly improves accuracy and efficiency.

Its advanced machine learning capabilities allow Bit-AI to automatically sort and classify documents based on their content, allowing users to quickly locate specific files without the hassle of manual categorization.

Furthermore, the solution excels in data extraction by intelligently identifying and capturing relevant information from documents. This reduces the time and effort required for manual data entry and minimizes the risk of errors.

DocuWare

DocuWare is a comprehensive document management system that makes  document capture, storage, and retrieval even more simple . Its intelligent indexing capabilities enable automation of  document workflow, saving valuable time and ensuring that documents are easily searchable and retrievable.

This tool also allows  users to perform detailed searches based on keywords, metadata, or specific content.

In addition, DocuWare streamlines workflows through its workflow automation capabilities, automating document routing, approvals, and notifications. It also prioritizes security and compliance by providing secure document-sharing capabilities.

XaitPorter

XaitPorter is a collaborative document management platform for complex, high-value documents. By enabling simultaneous collaborative writing, document structuring, and version control, XaitPorter empowers teams to efficiently create proposals, contracts, and reports while maintaining accuracy and coherence.

The platform helps streamline the creation of proposals, contracts, and reports, thus minimizing the administrative overhead typically associated with document management. It offers pre-defined templates, automated formatting, and content reuse functionalities.

With features like simultaneous collaborative writing, document structuring, and version control, XaitPorter streamlines document creation processes, enhances collaboration, and ensures accuracy and coherence in the final output.

OnlyOffice

OnlyOffice is a comprehensive document management suite integrating document editing, collaboration, and project management features in a single platform. It helps teams edit documents efficiently, collaborate in real-time, track versions, and manage tasks, facilitating seamless teamwork and organized document workflows.

Users can create, edit, and format documents directly within the platform, eliminating the need for additional software installations or compatibility issues. Multiple team members can work on the same document simultaneously, making edits and providing input in real time.

By facilitating seamless teamwork and offering efficient document organization, OnlyOffice enhances productivity, promotes effective collaboration, and streamlines document workflows for teams and organizations.

Google Drive

Google Drive, a widely recognized cloud storage and document management platform, continues to be a popular choice for individuals and businesses alike, offering easy file access, robust collaboration features, and convenient sharing capabilities.

Users can easily create, edit, and store documents inside a cohesive environment thanks to its seamless connection with other Google Workspace technologies, encouraging productivity and effective document management. The platform’s user-friendly interface makes it simple for users to swiftly browse through folders, look up specific documents, and carry out tasks.

Google Drive is a user-friendly and widely available solution for effective document management because of its seamless integration, file syncing, real-time collaboration, and large storage space.

With 45% of small businesses still using conventional paper-based methods for managing their documents, this tool can help these small firms improve their document management efficiency.

How to Compare and Analyze These Top 10 Platforms?

In comparing the top 10 document management software, it is important to consider their strengths, weaknesses, pricing models, and customer reviews. Each software has unique features and target audiences, catering to different organizational needs and industries.

Organizations must assess their requirements and evaluate the software’s compatibility and scalability to make an informed decision. Involve key stakeholders and departments to ensure that the chosen software aligns with the needs of various teams and workflows.

By conducting a comprehensive evaluation, considering the factors mentioned above, and leveraging the experiences of other users, you can confidently select the most suitable document management platform that will streamline your processes and drive productivity within your organization.

Unleashing Productivity: Embracing the Power of Top Document Management Software in 2023

The top 10 document management software options in 2023 offer diverse features to enhance workflow efficiency and ensure secure document handling. Each software provides unique strengths and functionalities, from comprehensive solutions like CMW Lab, PaperSave, and M-Files to versatile platforms like ClickUp and OnlyOffice.

Whether you prioritize AI-powered automation, collaboration features, or seamless integration, the right document management software can streamline your document-related processes and unlock new productivity levels in your work environment.

The post Top 10 Document Management Software in 2023 appeared first on CMW Lab Blog.

The most tangible benefit of good business process management is Cost Efficiency that can mean decreased costs and increased revenue. While the rest of benefits BPM delivers is intangible in the short term, they add crucial value in the long run, and help both small and huge companies with gearing up for worldwide competition. BPM technology makes any company better equipped to switch gears, respond to its changing business environment faster than competitors, and succeed!

Learn more how BPM software can help you achieve your business goals while it simplifies your business processes management cycle, handle change processes and drive projects to success.

Here are the Top 10 Benefits of good business process management:

1. Cost efficiency

Simply slashing budgets is no longer a viable option in organizations that have become leaner in response to global economic conditions during recent years. There simply is not much left to cut. However, in order to thrive, organizations still need to maximize the efficiency of the costs they do incur and profit they generate. And good BPM is a driving strategy towards maximizing cost efficiency by streamlining business operations and collaboration, automating repetitive tasks, improving product quality and reducing corporate risks.

CMW Platform combines process management and workflow management with task management and built-in real-time reporting and analysis, so teams collaborate more effectively within both routine workflows and profit-generating projects and bring their projects to fruition within budget, with reported cost savings of 30% to 50%.

2. Business agility

A trend in BPM is toward more nimble processes that respond to organizational learning in the marketplace. Nowadays flexibility is frequently taken as one of business process management goals in addition to cost efficiency. This has led to a greater demand for ultra-flexible business process management tools that are easy to design, change and deploy. Generally, agility incorporates the following elements, all of which are included to CMW Platform:

• Process management: With CMW Platform, process management comes in the form of visual workflows that you can change on-the-fly. You can re-use workflows wherever you need to and customize them as you go.
• Rule management: As work management moves into an unstructured, collaborative age, rules management will be the way to stay properly governed, visible, and compliant, while keeping processes on track. CMW Platform features on-the-fly rule configuration for each department, function or project (whether structured or unstructured), as needed. This provides unique flexibility not seen in other work management tools.
• Integration and automation: CMW Platform offers comprehensive solutions that support task and case management as well as Project Management. The fact that this all sits on one organization-wide database means that the company has full control, visibility and real-time analysis capability.
• Continual optimization and scaling. CMW Platform enables quick-win implementation and non-code addition and modification of running processes. It allows for starting with simple automated workflows and growing incrementally with comprehensive business process management.

3. Compliance ease and visibility

Changes to legislation and other factors have meant that companies without a flexible system for handling end-to-end compliance can incur great, unforeseen costs, both in reporting and penalties. Within BPM systems, companies can build compliance into their business practices if department-specific applications are integrated with the organization as a whole. CMW Platform allows for full integration with function-specific, 3rd party applications via Open API that are also tied to an organization-wide database. This makes it possible to produce automated reports that demonstrate compliance in a cost-efficient way.

4. Customer focus

Savvy customers are demanding thorough proof-of-concept (POC) processes that document how their needs will be heard through self-service Web 3.0 capabilities. Business process management helps organizations to combine people with technology to acquire and retain satisfied customers and CMW Platform lets organizations include any desired user (read: customer) with easy-to-program security roles. This paves the way for ongoing, real-time collaboration with customers in a way that proves responsiveness, personalization, customization and access to information.

5. Staff satisfaction

6. Efficiency and productivity

Consequently, BPM plays an essential role in assisting companies in achieving their productivity and efficiency goals. In order to establish baselines and then enhance them, BPM projects give priority on measuring and monitoring processes, establishing process excellence. Process efficiency rises when operations run smoothly and at full capacity. Moreover, the same tasks can be done within shorter terms, making the team more productive and being able to concentrate on business-critical tasks. Process analysis is continually done. The ability to quickly identify and remove tasks that bring little value boosts productivity overall.

7. Reduced micromanagement

Micromanagement might be effective as it anyway leads to getting the task done. However, it is always detrimental to a company in the long run. Sticking to a set of procedures in order to minimize errors is one of the main reasons that leaders prefer to micromanage their workers.

Micromanagement is no longer necessary due to BPM. Leaders and staff members who are aware of their responsibilities clearly document all SOPs. When a certain step is called for, workers complete it clearly without constant coaching or direction.

8. Single digital environment

The appropriate BPM tool can serve as a unified environment for data fetching and pushing to vital software platforms like ERP and CRM. Department-specific software is typically created for distinct use cases, but data access and use for other purposes can be challenging.

The benefits of integrating core applications with an enterprise-wide BPM platform are numerous. Some procedures require human input, while others do not. With the process automation software enterprise can decrease cycle time and manual entry errors, while granting access to the company’s fundamental operations to all the employees or dividing the access levels for security purposes.

9. Measurable results

You can evaluate the results of new processes using BPM. You may estimate how much time has been saved, decide if enhanced processes actually save money, and keep an eye on these findings in real time. With CMW Platform you may automate the process of monitoring and reporting outcomes, and once you have these findings, you can use them to further direct your internal processes.

10. Improved responsibility

Implementing BPM and citizen development in your organization also becomes the driver for employees to take ownership of their work. As soon as the dependency on IT-department minimizes, the processes can be built and completed faster by non-technical users. It means that the power now is in the hands of any employee who sees the bottleneck and wants to bring value.

At conclusion

Could your organization benefit from improvements in the following areas?

• Increased customer satisfaction and shorter time-to-market for products and services
• Greater efficiency (and cost savings) with existing applications and processes
• Greater team satisfaction as collaboration and best practices are improved
• Full transparency of all activities across the team and organization

…work management is a set of software products and services that apply workflow structure to information and workers so that processes are streamlined and performance is improved…

Some companies already have BPM systems. But, after the BPM initiative is in place for a year or two, professionals in these enterprises are usually frustrated by how difficult it is to change processes, and are surprised by the degree to which colleagues use “work-arounds” for unstructured projects that arise. When formal business processes cannot be changed easily, or when the team isn’t using the formal processes for all work, then visibility, agility, organizational learning and market response times all suffer. CMW Lab low-code BPM software enables non-technical users (Top-managers) to change business processes easily, making sure that company staff don’t need “work-arounds” for projects that occasionally arise and stay effective!

The post Top 10 Benefits of Resultive Business Process Management appeared first on CMW Lab Blog.

What is a Business Process?

One of the main advantages of automated business processes is the minimization of manual tasks, which are usually time-consuming and error-prone. With automation, repetitive activities can be performed seamlessly and consistently, freeing up valuable time for employees to focus on more strategic and value-added tasks. This leads to increased productivity and employee satisfaction. said Michael Donaghey, Director of North American Operations at CMW Lab.

Basic Steps of Business Process Implementation

Business Process Examples

In CMW Lab we believe that with the right BPM solution, you can not only streamline your existing processes based on the pre-built frames but also unlock new opportunities for growth and differentiation. It’s all about putting the power of app creation in your hands and enabling you to shape your business operations in a way that drives your success. The right software gives you the unlimited freedom of process creativity. said Michael Donaghey, Director of North American Operations at CMW Lab.

What are Some of the Terms Related to the Business Process?

Business Process Automation Explained

Visual workflow builder for non-coding business process automation

Why Automate Your Business Processes?

• Business Process Automation brings about Increasing Value Per Work – When you automate your business the workload on the employees will decrease and they will be able to channel their strength and creativity to other essential assignments and tasks. This will, in turn, enhance their focus and productivity.
• Business Process Automation leads to Higher Employee Satisfaction – There are some business processes that are extremely complicated and if you leave them for the employees to handle, it may not only put them in the middle of chaos, but also demotivate them. But on the contrary after implementing automated workflows the employees will concentrate on really business-critical tasks.
• Business Process Automation Minimizes Human Error – As long as humans beings are involved in a process, the error is inevitable, and some errors can be colossal at times. Automating your business will help eliminate every form of human error, and thus giving you a more accurate result.

Other Benefits of Business Process Automation Include:

• Streamlined communication
• Cost minimization
• Improved workflows
• Increased flexibility
• Better customer satisfaction
• Consistent maintenance of a work standard
• Increased product/service quality
• Increased administrative control.

6 Amazing Business Processes and Automation Ideas

1. Hiring process

2. Employee analytics

3. Employee help desk support

4. Task or Project Management

5. Social Media Management

6. Auditing

BPM FAQ

Q1: What is the significance of process management and automation for businesses?

A1: Automation and process management are essential for businesses because they increase effectiveness, production, and customer happiness. Organizations may improve workflows, automate monotonous procedures, and streamline operations while lowering errors and more efficiently allocating resources.

Q2: How can businesses identify which processes to automate?

A2: Processes must first be assessed for volume, complexity, and influence on company objectives. Automation is typically an excellent option for repetitive, rule-based, and time-consuming processes. Processes having a high potential for cost savings or mistake reduction should also be taken into account.

Q3: What are the key benefits of process automation?

A3: Process automation offers several benefits, including increased efficiency, improved accuracy, reduced costs, and faster turnaround times. It also enables real-time monitoring and analytics, allowing businesses to identify bottlenecks and make data-driven decisions for process optimization.

Q4: Are there any challenges or risks associated with process automation?

A4: Process automation has a number of advantages, including higher accuracy, quicker turnaround times, lower costs, and increased productivity. Additionally, it offers real-time monitoring and analytics, enabling companies to locate bottlenecks and take data-driven actions to improve processes.

Q5: How can businesses ensure successful process management and automation?

A5: The management and automation of processes must be approached holistically. Prior to automation, it is crucial to perform a complete analysis and optimization of the processes, involving stakeholders and subject matter experts. Success depends on effective communication, change management, and continual oversight. Utilizing the knowledge of automation consultants or specialists can also assist businesses in overcoming obstacles and maximizing the advantages of automation.

Conclusion

The post 6 Business Process Examples and Automation Ideas appeared first on CMW Lab Blog.

Impact of the digital transformation on consuming in retail

Digital transformation, no doubts, has significantly impacted retail real estate. First of all, it has led to fundamental changes in the way retailers approach their physical spaces. One of the most noticeable changes is the lockdown shift towards online shopping, which has resulted in the closure of many physical stores and malls. According to a report by Coresight Research, a total of 9,832 stores closed in the United States in 2020, the highest number on record.

However, the booming popularity of online shopping has not spelled the end of retail real estate. Rather, it has transformed the sector, with retailers focusing on creating more experiential and innovative physical spaces that cater to the changing needs and preferences of consumers and real estate agencies — dealing with more customer oriented and even quicker results delivery.

Augmented reality (AR) and virtual reality (VR) are two technologies that are creating more immersive and engaging shopping experiences. By enabling customers to virtually try on clothes or see how furniture would look in their home, AR and VR are making it easier for retailers to bridge the gap between online and offline shopping.

Mobile apps are another technology that is having a significant impact on retail real estate. By using mobile apps to provide personalized recommendations and in-store navigation, retailers are able to create more seamless and convenient shopping experiences for customers. According to a report by McKinsey, customers who use mobile apps while shopping are 40% more likely to purchase from a retailer than those who do not.

Digital transformation has also enabled the rise of micro-retail — a trend towards smaller, more flexible retail spaces that are designed to meet the needs of emerging retail concepts and pop-up stores. This trend has been enabled by technology, which has made it easier for retailers to set up and manage these smaller spaces. According to a report by JLL, micro-retail is a growing trend in cities across the world, with landlords and developers recognizing the benefits of these smaller spaces in creating more diverse and dynamic retail environments.

New digital opportunities

Business processes visualization. Source: CMW Platform

Increased Information Accessibility

One of the most significant ways that digital transformation has influenced real estate is through increased access to information. With the advent of online property listings, buyers and sellers can now access a wide range of information about properties, including photos, virtual tours, floor plans, and detailed descriptions. This has made it easier for tenants to find properties that meet their specific needs and for landlords to reach a wider audience.

According to a study by the National Association of Realtors, 93% of home buyers used the internet to search for homes in 2020, up from 44% in 2010. This shows that the vast majority of buyers now rely on digital resources to find their next home. As a result, real estate professionals need to ensure that their online presence is up-to-date and informative to capture the attention of potential buyers.

Improved Efficiency in Transactions

Another benefit of digital transformation in real estate is improved efficiency in transactions. Online tools such as e-signatures, virtual notarization, and online payment systems have made it possible to complete real estate transactions entirely online, saving time and resources for buyers, sellers, and real estate professionals.

In addition, digital tools such as customer relationship management (CRM) systems and project management software have streamlined the process of managing real estate transactions. These tools allow real estate professionals to manage and track leads, communicate with clients, and monitor the progress of transactions from start to finish.

Enhanced Marketing Opportunities

Digital transformation has also brought new marketing opportunities for the real estate industry. Social media platforms such as Facebook, Instagram, and LinkedIn have made it easier for real estate professionals to reach potential clients and promote their listings. By creating engaging content and utilizing targeted advertising, real estate professionals can connect with buyers and sellers in a more personalized way.

Increased Transparency and Accountability

Digital transformation has led to increased transparency and accountability to the real estate industry. Online review platforms such as Yelp and Google Reviews allow buyers and sellers to share their experiences with real estate professionals, which can help improve the overall quality of service in the industry.

In addition, blockchain technology has the potential to transform the way real estate transactions are conducted by providing a tamper-proof ledger of all transactions. This can help prevent fraud and increase transparency in the industry.

Emerging Trends in Real Estate Technology

As digital transformation continues to influence the real estate industry, new technologies are emerging that have the potential to revolutionize the way we buy, sell, and manage real estate. Some of these emerging trends include:

Digital transformation platforms have made it easier for agencies to manage their operations and workflows. For example, real estate agents can use BPM-software to manage their leads and track their interactions with clients, as well as efficiently manage their properties and tenants. This has helped real estate agencies save time and reduce manual work, allowing them to focus on providing better service to their clients.

Artificial intelligence (AI) and machine learning: These technologies can help simplify many of the tasks involved in real estate transactions, such as lead generation, property valuation, and contract management.

Process automation: Dealing with a huge volume of information, brokers have to be sure their operations are error-free. This technology ensures minimization of human errors and enhances customer experience.

5 process automation ideas for real estate agencies

Staying on the top of a highly competitive environment now often means a transition from manual processes to automated ones. According to CMW Lab customer requests, here is the list of the most demanded operations that real estate agencies are struggling with and which are seeking for automation.

Property listing and management: This involves automating the process of creating and managing property listings, including uploading property details, photos, and videos to listing websites and social media platforms. By creating an automated listing creation process, real estate agents can save time significantly. The BPM software can automatically publish property listings to multiple websites, sync the listings across all platforms, and provide analytics to track listing performance.

Customer Relationship Management: This involves automating the process of managing customer relationships, including email and text message follow-ups, lead scoring, and lead nurturing. A BPM software can help automate these processes, providing real estate agents with a centralized platform to manage leads and track customer interactions. It can also provide insights into customer behavior, enabling real estate agents to tailor their approach to each customer.

Property valuation: This involves automating the process of property valuation, using machine learning algorithms to analyze property data and generate accurate valuations. Automating property valuation in real estate involves using technology to streamline the process of determining the market value of a property. This process can include the following steps:

• Data collection: this can include information such as the property’s location, size, age, features, and recent sales of comparable properties in the area.
• Information analysis: Once the data has been collected, it can be analyzed to determine the market value of the property. AI algorithms can use machine learning to analyze the data and make predictions about the property’s value based on factors such as location, size, and features.
• Consider multiple valuation methods: Automated property valuation can incorporate various methods of valuation, including cost approach, income approach, and sales comparison approach.
• Verify the results: While automated property valuation can provide a quick estimate of a property’s value, it’s important to verify the results with a human appraiser. A human appraiser can take into account factors that automated systems may miss, such as the condition of the property and any recent renovations.

Contract generation and management: This involves automating the process of generating and managing contracts, including digital signatures and contract tracking. This can help real estate agents streamline the sales process and reduce the time it takes to close a deal. A contract management software can automate the process of contract generation, providing real estate agents with pre-populated templates that can be customized for each client.

Document tracking. Source: CMW Platform

Lease parsing: By automating the lease parsing process, real estate agents and property managers can save time and reduce errors, while also gaining valuable insights into their leasing operations. The automated process can help them quickly and accurately process lease agreements, monitor leasing performance, and make data-driven decisions to optimize their leasing strategy. This process may consist of the above:

• Data extraction: The first step is to extract data from the lease agreement document. This is typically done using natural language processing (NLP) and machine learning (ML) techniques. The software scans the document for relevant information, such as lease start and end dates, rent amount, security deposit, and other key terms and conditions.
• Data validation: Once the data is extracted, it needs to be validated to ensure its accuracy and completeness. The software checks the extracted data against predefined rules and templates, and alerts the user if any errors or inconsistencies are found.
• Data normalization: After validation, the extracted data is normalized into a standardized format, which can be easily imported into a BPM-platform for further processing.
• Data enrichment: To provide additional context and insights, the extracted data can be enriched with other relevant information, such as property details, neighborhood information, and other relevant data sources.
• Data analysis and reporting: The final step is to analyze and report the extracted data. The software can generate customized reports and dashboards that provide insights into key metrics such as lease duration, rental income, and occupancy rates as well as further notifications on the lease agreement dates or changes.

Conclusion

Digital transformation has brought many benefits to the real estate industry, including increased access to information, improved efficiency in transactions, enhanced marketing opportunities, increased transparency and accountability, and the emergence of new technologies that have the potential to revolutionize the industry. As technology continues to evolve, it’s essential for real estate professionals to adapt and embrace new digital tools to stay competitive in the market.

According to a report by Grand View Research, the global real estate market size is expected to reach $4,263.7 billion by 2025, with digital transformation playing a significant role in this growth. Real estate professionals who leverage digital tools and embrace emerging technologies will be well-positioned to succeed in this rapidly evolving industry.

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It is no secret that the modern business world is highly congested with business owners who have incredible ideas. However, these ideas tend to fail because business owners neglect the power of creating a safer environment for the success of their operations. Every company has a digital footprint that facilitates its operations on different online platforms. The application of security controls with data analysis is one of the innovations invented to guarantee security.

Hackers are developing new means daily that can help them prepare through the company system and access customers’ data. This calls for creating sophisticated methodologies that can help create a reliable security wall that can safeguard the well-being of businesses and the customers’ data. Given that most sensitive information is stored online, there is a need to create reliable firewalls that hackers cannot penetrate through.

The application of data analysis in security control has introduced a new web within the cyber security system. Data analysis helps in analyzing security data sets to discover unusual activities that are likely to haunt the security standards of the business. Even though this is a newly established technology within the security sector, it has proved to be an effective strategy that can help to limit the hackers’ activities when penetrating through the company’s security firewall.

Considering that there is a hike in the number of hackers trying to penetrate into business operations, there is a need to measure the effectiveness of security controls within company settings. This has called for the implementation of different strategies that are specifically designed to measure the effectiveness of the types of physical security controls that have been put in place in businesses. Let’s learn more!

The Need for Security Controls in Business

Scams, viruses, and hackers can have catastrophic impacts on business development. It is vital for the business to safeguard the personal data belonging to employees and customers in order to create a safer environment for business operations. The impact of insecurity activities has forced companies to put in place security controls that can help them develop a safer working culture for the success of their goals.

Most companies have hired data analysts who help in digging through large data sets to extract valuable security-related information to help them create reliable strategies. Data analysts have the responsibility to study various patterns and trends to uncover any unusual activities that need fixing. They also take part in data visualization such as a trend chart, and Sankey diagram to ensure that business stakeholders understand all the technical elements generated from the data.

When data is placed at the forefront of business operations, it becomes easier for the company to maintain its online operations considering the best safety practices. Many businesses across the globe lose millions of dollars every year trying to curb cyber security cases. The application of data visualization can help in fixing such instances by translating massive amounts of data into a simple language that the security department can understand.

Measuring the effectiveness of cyber and physical security controls, such as business video surveillance, with data analysis is considered one of the most challenging responsibilities in tackling an integrated security approach. However, you can easily achieve this, provided you understand the steps taken to complete the work. Below are some of the basic concepts you can use to evaluate the effectiveness of your security controls and possible solutions to fix the problem.

Carry Out Security Audit Against the Company Servers

A cyber security audit is one of the best solutions when you want to understand the effectiveness of security controls. This is a fake attack that is launched toward your business to determine any weak areas that hackers can use to penetrate through. Most hackers use links and other malware solutions to access the company service and penetrate customer data to achieve their goals.

They are hackers who also demand ransom in the name of recovering private information. This is why most businesses encounter threats every day courtesy of hackers activities. The Security department can conduct cyber security audits on regular occasions to discover any weak areas and tailor solutions that can fix the problems.

It advised companies should look for experienced security auditors with extensive knowledge in the field to determine lasting solutions to the weak areas. Note that when all the weak areas are fixed, hackers find it difficult to access the company system. This is why understanding the attack surface concept is key, whether or not you are directly responsible for protecting mission-critical assets. Such knowledge, supported by experts, gives you power against malicious actors.

Track the Incident Response Times and Outcomes

There are different reasons why companies want to measure the effectiveness of their security controls. Most companies always want to understand whether their systems are working and if there is anything that needs to be improvised. One of the best ways to achieve this is to track various activities on a real-time basis. They then document the outcomes from the processes and the amount of time taken.

These activities are done within different parts of the business depending on the security speculations delivered by the intelligence. This is a common activity, especially when cases such as corruption are recorded within the business and an employee is locked out from the company’s email or the entire system. All activities conducted throughout this department can be tracked and noted down for further analysis.

The information generated from the process offers detailed insights that can be used to evaluate the security measures within the company. When the security department evaluates the situation in detail, they can easily note the weak areas within the system and determine possible solutions available.

Conduct Risk Assessments and Offer Training to Your Employees

Note that the employees are the most vulnerable people within a business environment, and they also have what it takes to safeguard the business. Hackers mostly prey on my victims to get access to the business servers. This problem can be solved by training all your team members on security matters and how they can safeguard the business environment. Always remember that knowledge is power, and employees can help you to create a safer environment.

When you monitor your employees keenly, you will realize that most employees experience certain incidents more than others. This is one of the risk assessment activities you need to conduct to ensure that all your employees know about security matters and can do everything possible to safeguard the business. You can also assess your team members and evaluate any high-risk behavior likely to deteriorate the business security standards.

You can also come up with various guidelines, such as instructing employees never to open emails from unknown senders. This will help you prevent hackers’ activities and limit their chances of accessing your company servers.

Investigate the Permissions and Entitlements

Most companies always want to give their customers access to various information on their websites. They end up giving permissions and entitlements to various uses, which ends up becoming a high-security risk. When hackers manage to invade through their entitlements, they also get access to the company’s system. This means that hackers can access the business data, and do anything possible to benefit their efforts.

Business owners can acquire tools that can help them to investigate the permissions and entitlements given to various team members to validate their security standards. There is a need to dig deeper into the entitlements that are given to all employees to prevent cases of hackers penetrating through the company systems.

Final Word

Every business has the power to grow into a bigger brand. However, the power of a business to grow revolves around the security measures put in place to safeguard its safety. Measuring the effectiveness of your security controls can help you to determine all the weak areas that need urgent fixing in order to create a safe environment that guarantees the well-being of the business and the satisfaction of customers.

Note that customers only prefer going to businesses that have proper security standards. Hackers are inventing new methodologies every day that enable them to gain access to companies’ data in order to benefit their efforts. By measuring the effectiveness of your security controls, you can determine the areas that need urgent modifications to create a better operating platform for your business.

The post Measuring the Effectiveness of Security Controls with Data Analysis appeared first on CMW Lab Blog.

Protect your brand image

The newly onboard employees are usually very keen to make observations in the workplace. They want to know how you run, how you guide and treat employees, and how efficiently things run. If not careful, your new employees or job candidates might develop a bad impression of your company. This could have a direct effect on your organizational culture and image. With the HR workflow software in place, however, you can appear more organized in the eyes of newly hired employees. It supervises them for you by displaying their workload for each day. If everyone seems to know what they were hired to do, it will give the impression that you are professional and orderly. The automated system speeds things up, ensuring that each step of the hiring process is done in a timely and systematic manner.

Software comes in handy in an emergency recruitment process

If there is a vacancy that needs to be filled in quickly, your business will handle it quickly if it has a recruitment workflow technology. A manual onboarding procedure would be so difficult to run in such a circumstance. The onboarding program consists of two things. First, the HR manager has to develop the onboarding workflow template. This means that they have to breakdown the entire process into small stages and then add it to the workflow automation software. Once this happens, there can be more officers tackling the procedure on the backend. Hence, the HR head would be relieved of some stress and would be more confident that an emergency job positioning would start and end successfully.

Onboarding workflow software boosts communication

Modern people are conversant with technological devices, apps, and software. By the time they attend the interview, they expect you to have used a given form of technology to get in touch with them. For instance, you could ask them to send their cover letters via mobile or email. As a result, job candidates will perceive your communication process as streamlined and efficient. The Recruitment workflow software puts all participants on the same page. Thus, every worker will be keen to do what is expected of them as the interview process continues. At the same time, candidates will look sharper rather than confused and lost. There will be clear steps explained to them even before they walk in the interview room. The hired ones will also enjoy the automated job orientation process and new hire onboarding portal.

The software simplifies the auditing process

Your HR manager might want to review the original documents gathered during the initial onboarding process. If the process is automated, the documents can be retrieved and audited quickly. The same cannot be said of the manual onboarding tasks handling. The manual filing procedure is less convenient, especially, if the documents you want to review were shared throughout a whole year onboarding program. The HR workflow software saves time that could otherwise be spent searching for old paperwork. With just a few mouse clicks, the hiring official could recover the data they require to proceed with the remaining part of their onboarding program.

This is why you need the CMW Tracker onboarding workflow software. It can be provided to you for 30-day trial period. Do not hesitate to request your trial period today! CMW Lab will automate more than just your recruitment process.

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According to Gartner, 80% of companies are planning to increase investment into hyperautomation in the upcoming years despite business instability and supply chain problems. Being a part of digital transformation, hyperautomation helps enterprises adapt to changes rapidly with the best possible outcome.

Defining the hyperatomation approach

Hyperautomation is a result-driven approach when a company automates as many possible processes and operations as possible. It involves the use of many different technologies: robotic process automation (RPA), artificial intelligence (AI), machine learning, business process management (BPM), low-code/no-code. In 2023 all these technologies are being introduced within digital transformation suites letting companies manage all processes and tools in a single environment. As a result hyperautomation became an integral part of a digital transformation, aligning RPA and AI to eliminate most of the manual business work. It gives flexibility in those areas where automation has never been possible before: processes that are not supported by any documentation or do not rely on any structured data.

Today’s digital transformation platforms provide for the agile technologies incorporation, giving a possibility to benefit from more technologies on the go. They effectively merge different tools and software within one environment empowering business people with automation capabilities. Advanced hyperautomation software includes the following functionality:

• Robotic process automation (RPA)
• Low-code business process management systems (BPMS)
• Intelligent data automation
• Data-driven process discovery
• Software test automation
• Analytics and insights

Benefits of hyperautomation

Speed up projects completion

Introduction of automation to everyday work lets involve all the employees into the business transformation process converting their knowledge into workload reductive actions.

Introducing digital workspace

Aligning different technologies within one platform creates a single digital workspace to improve employees performance. It gives freedom to connect business applications, work with unstructured data, optimize processes and find new growth opportunities.

Artificial intelligence power

When RPA works together with AI this is where the hyperautomation magic happens. It lowers the volume of manual control and reduces costs, improves efficiency on the employee and enterprise level, as well as business compliance.

Many companies do not feel ready to start automation because of the lack of data or technical specialists. But here when the low-code BPMS comes to action. Though the market is overwhelmed with products providing low-code/no-code possibilities, most of them will have limited functionality for hyperautomation. The advanced digital transformation platforms consolidate RPA, employees, CRM, bots and data to empower citizen developers for real time changes

Real impact of the hyperautomation

Healthcare

Hyperautomation can benefit the healthcare sector by improving patient satisfaction, boosting revenue, and producing more precise data. Hyperautomation is used to automate client communications, invoicing cycles, and data collection. Additionally, it can deal with managing patient records, gathering information, and producing meaningful output for more precise plans for treatment.

Hyperautomation is frequently utilized to ensure regulatory compliance, which is essential for any healthcare organization. Additionally, it can be used to schedule personnel and other resources as well as manage drug inventories and procurement. Hyperautomation has countless applications in the healthcare sector, and its advantages can benefit the company, its partners, and its clients.

Finance and banking

The banking and finance sectors are under constant pressure to lower expenses, boost productivity, and offer a more accessible and individualized service quality.

Higher data reliability can be made available to staff members through hyperautomation, allowing them to use business process management (BPM) more successfully to give consumers information that helps them decide more effectively. Hyperautomation also offers the side efficiency needed to support online banking and financial apps’ constant availability, as well as the necessary rules and reporting. Large amounts of data are used in the financial and banking industries, which can be difficult to handle. By streamlining the procedures required, hyperautomation enables faster, more reliable, and error-free processes.

Oil & Gas

Energy industry companies are now able to manage the unpredictability and fluctuation that are typical of the industry thanks to AI and ML algorithms. Enterprises aim to foresee, optimize strengths, and minimize weaknesses in sectors like electricity generation, distribution, and trading procedures by using the capabilities and performances of AI-based systems. The fact that enormous processing capacity is now affordable and can be used to speed up the training of deep learning algorithms is one of the main reasons AI has become so popular in the energy sector. The tremendous growth in data availability and storage capacity, which gives businesses superior algorithm training material, is another important factor. And when it comes to energy volume forecasting, power optimization, distribution process set up or upgrade, current risks evaluation, digital transformation platforms give their automation power.

How CMW Lab can help

CMW Lab provides its customer with digital transformation and business process management solutions that are gathered in a CMW Platform – a low-code digital transformation suite unleashing the process automation power for building innovative business apps. It gained the trust of multiple government agencies and companies such as Hertz, Aetna, CVS pharmacy. Supporting digital transformation for more than 10 years on the US market, CMW Lab products are rated #1 BPM Solutions by Gartner Peer Insights.

Our analysts team can help with business process mapping, finding the bottlenecks and improving business results without millions spending on solution deployment and management. CMW Platform guarantees security and flexibility no matter the vertical you represent and can be deployed in cloud or on-premise. Fully Open API lets create powerful integrations with RPA, AI tools for a real hyperautomation happening within one software.

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