Lockout/Tagout (LOTO): Automating the Process

The main purpose of lockout/tagout (LOTO) procedures is to prevent accidents, save lives, and protect equipment from extensive damage. But it’s important that these procedures don’t become routine—in fact, you should consider how you can improve work safety to prevent errors and eliminate accidents. Learn how an automated lockout and tag out solution can help improve processes, and provide business and financial benefits.

Featured Software Research:

Time and Attendance: The Core of Managing and Measuring Your Workforce

This paper is based on data from more than 200 organizations in Brandon Hall Group’s 2014 Workforce Management Study. It reviews the evolution of time and attendance, the impact of automation and integration, and the key role that time and attendance solutions play in managing and measuring today’s workforce.

Some of the key findings include:
  • Organizations with fully automated time and attendance saw 67% greater year-over-year improvement in customer satisfaction.
  • Organizations automating time and attendance were 73% more likely to have real-time visibility and reporting on current time and attendance data.
  • Workforce analytics was cited as a top workforce management concern, by 54% of organizations, but just 32% indicate they are using workforce analytics tools regularly.
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Wholesale Banking: Challenges in Automating Commercial Credit Risk Management

  • Source: IBM
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The challenges associated with commercial credit are complicated, but through automation, commercial credit risk management can be made straightforward and more efficient. IBM’s Business Analytics for commercial banking can help improve commercial lending operations, and, along with strong risk management practices and modernized operations, can create best practices for implementation and enhance overall operational effectiveness.

It’s essential that an automated system is transparent, helps with compliance, can serve multiple relationship types, and is able to use several criteria for risk assessment. A good system should take into consideration the complexities between customer, loan, and approval processes, and limit the need for multiple individual systems by way of a single user interface or tightly integrated systems.

In this white paper, read a detailed overview from IBM Business Analytics about the advantages and potential challenges of automation in five areas of interest, including complexity of the customer and credit granted, as well as continuous risk monitoring and how to improve overall relationship management. Get details on the management and analysis of commercial portfolios and related documents, business intelligence reporting, and defaults/recoveries management. Also provided is an extensive point-form information checklist, allowing you to self-check your own organization to determine what areas may need attention. Security issues for data protection are also addressed.

Creating infrastructure for your organization for best success begins with choosing the best technologies, and IBM Business Analytics can help, improving profitability and providing solutions that allow your business goals to be realized.  Read More

Credit Risk Management: Collateral, Covenants and Risk Review

  • Source: IBM
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If your organization is still managing credit risk manually, you could be leaving your company open to experience significant losses and complications that can harm its financial well-being. Multiple systems, piles of paper, inconsistent or out of date information- all could end up costing your company dearly. Today, the best way to ensure that credit risk is being appropriately monitored and managed is with the adoption of an automated system. With the implementation of an automated system, accuracy of data and efficiency of execution are significantly improved, and risk is monitored in a superior and more effective manner.

In this white paper, IBM highlights the benefits that an automated system for credit risk management can bring to your organization, including a reduction of human error on multiple levels, a marked increase in compliance, the capability to quickly track a data trail, and the capacity to effortlessly update and upgrade across multiple accounts and systems. Automation means valuations are up to the minute, and that transparency is increased. Document imaging, data entry, and automated workflow can resolve many problems previously encountered with manual procedures.

IBM’s Business Analytics offers a comprehensive 5-point action plan involving the importance of automating collateral processes, how to consolidate diverse systems and data, the benefits of automating collateral and covenant monitoring to reduce risk with the latest available information, and how automation supports release processes for minimized risk. Credit risk management can be modernized and refined as a result of changing towards an automated system. Read More

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The Case for Automating Tax Fulfillment

Companies need to invest in the smart automation of the tax fulfillment process to avoid penalties, minimize overhead costs, and take a step closer to full automation of the tax compliance process. Learn more. Read More

PRONTO-Xi v.670 for Mixed-mode Enterprise Resource Planning Certification Report

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  • Published: June 25 2009
Pronto Software's enterprise resource planning (ERP) software, PRONTO-Xi v.670, is now TEC Certified. The certification seal is a valuable indicator for organizations who rely on the integrity of TEC's research services for assistance with their software selection projects. Download this 39-page TEC report for product highlights, competitive analysis, product analysis, and in-depth analyst commentary. Read More

Automating Processes: Plucking the Low-hanging Fruit of Process Management

To many managers, the words “business process management” (BPM) conjure up images of complexity—months of planning, meetings, and more meetings. While BPM can be complex, it needn’t be. You can move quickly to implement process automation for your company. Learn what to consider and act on as you contemplate how to automate your business processes and increase competitive advantage and customer loyalty. Read More
 
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