This invention relates generally to a computer network-based system and more particularly to systems and methods for managing workflow both internally to provide services to customers and externally to allow customers to monitor workflow.
Electronic information exchange has improved workflow management problems to some extent, however differences between, for example, two companies interested in making a deal still exist. Legacy formatting issues between the companies and differences in procedures have left much of the inefficiencies found in paper based methods unaffected. For example, time expended manually in gathering information regarding the deal and possibly converting the information into a different format contribute to the inefficiencies. Overall, both the traditional paper methods and known electronic methods can be very frustrating and may not necessarily facilitate resolving workflow management issues.
It would be desirable to manage workflow issues by implementing a web-based system that allows real-time access to project status, both internally to the supplier of services and externally to the customer where they can monitor the workflow of services provided, while eliminating the inefficiencies of known systems thereby providing higher customer satisfaction and reduction in deal cycle time.
A workflow management system providing an integrated approach to exchanging information real-time and notifying responsible persons to pending commitments concerning a particular deal is disclosed. The web-based system includes a server having a centralized database of deal data. The connecting of at least one client system to the server facilitates a method of uploading initial proposed deal data, notifying an underwriter of the uploaded proposal, uploading a workflow timeline for the proposed deal and notifying responsible persons that actions for tasks are due according to the timeline.
The workflow management system is further configured to restrict database access only to authorized users for viewing of and providing updates to the deal.