FINANCIAL MANAGEMENT

FINANCIAL MANAGEMENT

      The financial management means that you need to have a planning, organizing and controlling the financial activities.This three finance in the financial management it categorized according their functions in the financial management.

1. Managerial Finance- this is the branch of the finance that have the concern for the managerial significance of the finance techniques.
2. Corporate Finance- this is the type of finance dealing with monetary decisions that business enterprises make and the tools and analysis used to make these decisions.
3. Financial Management for IT Services- this is the financial management of IT assets and resources.                                                                                                                                         

The Accounts Receivable also known as debtors, this is the money owed to a business or a clients and this will be shown on the balance sheet as an asset. The accounts receivable usually use the sales ledger and it’s because a sales ledger normally it called records. It will in charge for receiving funds on behalf of a company and applying it towards their current pending balances. The collections and cashiering teams are part of the accounts receivable department.

The Accounts Payable also known as the creditors, is the money owed by the business to its suppliers and it will shown also in the balance sheet as the liability. It will record here the accounts payable sub-ledger at the time an invoice is vouchered for payment. The payable will considered as the Trade Payables, payables for the purchase of goods and it will record in the Inventory and Expense payables for the purchase of goods and services that are expensed.

      The General Ledger is the collection of the group of the accounts that supports the value items that will shown in the major financial statements and it is built by posting transactions recorded in the sales daybook and general journals daybook. The general ledger has a seven basic categories in which all accounts are grouped ASSETS, LIABILITY, OWNER’S EQUITY, REVENUE, EXPENSE, GAINS, AND LOSS. 

The Fixed Assets also known as a non- current asset or as property, plant and equipment(PP&E), this is the term used in accounting for the assets and the property which it will cannot be easily converted into the cash. And it includes here the tangible or non-tangible assets.

The Cash Management or Treasury Management is the cash inflow and cash outflow in the bank. It is the certain services offered in primarily to larger business customers. It will be used to describe all bank accounts( such as the checking accounts) that provided in to business in a certain size, but it is more often called to used to describe the specific services such as the cash concentration, the zero balance accounting. It usually used the checks deposit slip to deposit the cash in the bank. Sometimes it is called as the private banking that customers are given cash management services in the bank.

POSTED BY: ALYSSA MARIE P. GABI

Financial Management

Financial Management

 Finance is may refer to a branch of finance that concerns itself with the managerial significance of finance techniques and Corporate Finance, a type of finance dealing with monetary decisions that business enterprises make and the tools and analysis used to make these decisions Financial Management for IT Services, financial management of IT assets and resources. In financial transactions it composed of six components the account relievable, account payable, general ledger, fixed assets and the last one   is cash management.

 In account receivable is money owned the company and it is taken from the sales, products and good services to the costumer or it was credited. The in charge of receiving funds or money on behalf of a company and their current pending balances. It managing of receiving money from the costumer and the payment for their credit, called account receivable it is a collections and cashiering while the collections department seeks the debtors, and the cashiering applies the money received.

Account Payable it is money of the company owes from the vendors or the consumer from the products and services purchased on credit. This item appears when the purchaser has the dell from the company in products and services, which is they purchased the product in partial payment while the company has a balance sheet to them to monitors the balances as a currents liability with the term as they have dell, ether it long term payment or short term depend on the the purchaser if they can paid in short term possible.   

The General Ledger is the list or may consider as a journal the credit and debit. It means accounting record of business which uses in double entry and booking. All of these on the ledger the records of the company are all in here the credit and debit, trough the ledger they determined the money of the company where is it going and how much in credited. It is very important to them because of the ledger it keeps the records of all transaction the money the products and the services of the company they have.

Then the Fixed Assets A long-term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be consumed or converted into cash any sooner than at least one year's time. Fixed assets are sometimes collectively referred to as "plant". Like for example the Lot is an owned property which is not easy to convert as a cash, actually when we heard a as owner of the lot is you’re have a lot of money but not because is not yet a cash, a cash that we can spent any time.

The last one is Cash management which a very important to the money holder or the one been a sign for it. The company must be careful to the money out as they spent for the uses of their business deal and transactions. It must be manage efficiently for the sake of the company's futures, it will recorded each transaction which used a cash must in detailed the is the purposed of journal, to keep away from troubles in the failed of business.

,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, God Is Watching You,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 

Posted by Tampon Mirasol 

TRANSACTION SYSTEMS

TRANSACTION SYSTEMS

The transaction systems or online system is that the interactions between the user and the system. The user is the one to perform a complete business transaction through the short interactions in the response time that required for each interaction. The online transaction processing (OLTP) is the transaction processing that occurs interactively and it requires: the immediate responsible time, the continuous availability of the transaction interface to the end user, the security and the data integrity. The online transactions are familiar to many people some examples like: ATM Transactions such as deposits, withdrawals, inquiries and transfers, supermarket payments with using the debit or credit cards and online banking. The transaction or online system has the many characteristics of an operating system: managing and dispatching tasks, controlling user access to data files and providing device independence.

The transaction systems is more useful today because we use this as our daily transactions like when you are the customers in the bank you can process your savings account in the bank. You can deposit and withdraw your cash in the bank. You can process your cash in the bank by using your savings account. The transaction system always use in the bank and other institutions. 

POSTED BY: ALYSSA MARIE P. GABI

Transaction System

Transaction System

In transaction system is composed of high numbers concurrent system and transactions type to be supported. Transaction if performing just like the transaction of internet which is has a lot of terminal to work and dozens and thousands of transactions in per second. Most of the transaction is performing in   short time in one second to verify each transactions of the system. 
The best sample of the transaction system which is having the high numbers the transaction will be executed. In online it needs of hundredths of terminal to perform the transaction, in one second of internet or the online system their is a case that the person access the internet in the same command or request’ so thier is possibilities’ the transaction of the internet sometimes consume a minute to access depend on the internet line high connected and it will perform efficiently.
 A lot of transaction using of online system for business, each generation the technology is upgrading. Before we have transaction in business is few’ but this time and more time to comes our generation is upgrading. Today’s a lot of transaction in business using online system deferent companies’ used the internet to promote their products and services to serve the consumer.
 Like for example the services of the Cebu pacific airlines we can able to have a schedule and reserve for ticket via online and we can pay it in online. Trough of that transaction the consumer also can able to access easily as they can any time.
 Most of the companies use the internet to have ads for their companies’ services and the product they has. How luck we are in these time that we can work also in online to have the services. 
Money Sender Company also used online like the LBC their services is used by online. These mission or transaction is critical application therefore it must continuously availability and high performance and data protection is required. Each are is work by transactions and it is in sequence to perform and work of these transactions. So far each transaction has their on way to transact it depend on the transactions has.  






.....................................................GOD BLESS US............................................................


Posted by; Tampon Mirasol

Business Cycles

An accounting cycle begins when accounting personnel create a transaction from  source document and ends with the completion of the financial reports and closing of temporary accounts in preparation for a new cycle.

The five accounting cycles and their main steps are shown below:

1. Revenue cycle

Sales orders

Cash receipts

2. Expenditure Cycle 

(Note: This cycle focuses on two separate resources; inventory and human resources and is often considered two separate cycles; purchasing and payroll/HR.)

Inventory/purchasing

Accounts payable

Payroll

Cash payments

3. Conversion Cycle (Production cycle)

Production

Cost accounting

4. Treasury Cycle

5. Fixed assets

Asset acquisition

Depreciation

Disposal

THE REVENUE CYCLE

The Revenue Cycle is the set of activities in a business which brings about the exchange of goods or services with customers for cash. Most business transactions are conducted on a credit basis. Cash is received after goods are shipped to the customer. The phases process are : the physical phase in which goods or services are transferred to the buyer; and the financial phase in which the cash is received from the buyer. The first phase is handled by te sales order processing subsystem, the latter by the cash receipts subsystem.

THE EXPENDITURE CYCLE

The expenditure cycle is a type of process that helps to define what occurs from the point that a business or consumer decides that the purchase of a given good or service is necessary to the point that the purchase is paid for in full. The number and type of steps included within the cycle will vary, based on the complexity of researching and ultimately obtaining permission to make the purchase. The process may further be complicated based on the policies and procedures that are involved in deciding when and how to tender payment for those purchases.

For many companies, the expenditure cycle begins with the granting of permission to make a particular purchase. Typically, the party wishing to make the purchase must submit what is known as a requisition form to a purchasing agent or department. If the agent reviews the requisition and finds that the requested item is within the pricing guidelines and budgetary restrictions of the company, the next step in the cycle involves the issuance of a purchase order number. At that point, the party who submitted the original request may contact the authorized vendor and place the order, carefully noting that the purchase order number assigned by the purchasing agent is to be included as part of the detail found on the invoice for the order.

CONVERSION CYCLE


A metric that expresses the length of time, in days that is takes for a company to convert resource inputs into cash flows. The cash conversion cycle attempts to measure the amount of time each net input dollar is tied up in the production and sales process before it is converted in cash through sales to customers. This metric looks at the amount of time needed to sell inventory, the amount of time needed to collect receivables and length of time the company is afforded to pay its bills without incurring penalties.


TREASURY CYCLE


Is the timing and frequency of the various maturities or treasury instruments; transactions include those related to financing the operations of the business (e.g. issuance of capital stock or long-term debt).


FIXED ASSET

Fixed assets, also known as a non-current asset or as property, plant, and equipment (PP&E), is a term used in accounting for assets and property which cannot easily be converted into cash. This can be compared with current assets such as cash or bank accounts, which are described as liquid assets. In most cases, only tangible assets are referred to as fixed.

Moreover, a fixed/non-current asset can also be defined as an asset not directly sold to a firm's consumers/end-users. As an example, a baking firm's current assets would be its inventory (in this case, flour, yeast, etc.), the value of sales owed to the firm via credit (i.e. debtors or accounts receivable), cash held in the bank, etc. Its non-current assets would be the oven used to bake bread, motor vehicles used to transport deliveries, cash registers used to handle cash payments, etc. Each aforementioned non-current asset is not sold directly to consumers.

These are items of value which the organization has bought and will use for an extended period of time; fixed assets normally include items such as land and buildings, motor vehicles, furniture, office equipment, computers, fixtures and fittings, and plant and machinery. These often receive favorable tax treatment (depreciation allowance) over short-term assets. According to International Accounting Standard (IAS) 16, Fixed Assets are assets whose future economic benefit is probable to flow into the entity, whose cost can be measured reliably.

It is pertinent to note that the cost of a fixed asset is its purchase price, including import duties and other deductible trade discounts and rebates. In addition, cost attributable to bringing and installing the asset in its needed location and the initial estimate of dismantling and removing the item if they are eventually no longer needed on the location.

The primary objective of a business entity is to make profit and increase the wealth of its owners. In the attainment of this objective it is required that the management will exercise due care and diligence in applying the basic accounting concept of “Matching Concept”. Matching concept is simply matching the expenses of a period against the revenues of the same period.

The use of assets in the generation of revenue is usually more than a year- that is long term. It is therefore obligatory that in order to accurately determine the net income or profit for a period depreciation is charged on the total value of asset that contributed to the revenue for the period in consideration and charge against the same revenue of the same period. This is essential in the prudent reporting of the net revenue for the entity in the period.

Posted by: Grace Anne Plaza Dalagan

BUSINESS CYCLE

Business Cycle (or economic cycle) refers to economy-wide fluctuations in production or economic activity over several months or years. These fluctuations occur around a long-term growth trend, and typically involve shifts over time between periods of relatively rapid economic growth (an expansion or boom) and periods of relative stagnation or decline (a contraction or recession). A business cycle occurs due to the variations that an economy experiences over time resulting from changes in economic growth. The economy has regular and periodic waves cycle and lasting for several years, has few members today. Business Cycle approach remains useful because it is an easy way to introduce a number of macroeconomic topics, including the adjustment process that remains central in macroeconomics.

There are four (4) stages that describe the business cycle. The Contraction when the economy starts slowly down. The Through when the economy hits bottom, usually in a recession. The Expansion when the economy starts growing again. And the Peak when the economy is in a state of irrational exuberance.

Revenue Cycle is a process businesses use to describe the financial progression of their accounts receivables from the very beginning, when they first acquire products if they’re product based, until they get paid, if they get paid. And it is the process of selling the product. And the product will sell, and if they collect in full at the point of the sale and record the purchase product the revenue cycle is complete.

Expenditure Cycle business needs materials in order to produce their products. However, before purchasing those materials, a company must determine the costs of buying the materials and the amount of inventory needed in order to complete the finished product on time and for a reasonable cost. And the expenditure cycle begins with the granting of permission to make a particular purchase.

Conversion Cycle in management accounting, the cash conversion cycle (CCC) measures how long a firm will be deprived of cash if it increases its investment in resources in order to expand customer sales. And in conversion cycle more on the flow chart so that we know if the cash will increase or not. And to control practices and procedures required in the conversion cycle

Treasury Cycle is the timing and frequency of the various maturity or treasury instruments; Transaction include those relate to financing the operations of the business. And needs to be evaluated more.

Posted By: Sarah Jean Icoy

Business Cycles

Business Cycles

The business cycles measured by the growth rate of gross domestic product and fluctuations in economic activity do not follow a mechanical or predictable pattern. It refers to economy-wide fluctuations in production or economic activity over several months or years.

Revenue Cycle

The Revenue Cycle is the process in businesses to describe the progress in financial of their accounts receivables from the very beginning. The Revenue Cycle process it begins when the product being priced and ready to be sold. It usually done by the accounts receivable (or accounting) department of a company. Today, the revenue cycle usually used in accounting and the company when the account is receivable and full.

Expenditure Cycle

The Expenditure Cycle is a type of process that helps to define what occurs from the point that a business or consumer decides that the purchase of a given goods or service is necessary to the point that the purchase is paid for in full. In the companies the expenditure cycle it begins with the allowing the permission to make a particular purchase.

Conversion Cycle

The Conversion Cycle is a type of process that has a transaction: acquisition of materials, acquisition of labor, transfer of materials, labor and overheads into production, transfer of finished goods to inventory and sale of inventory. In the conversion cycle it involves the three major groups in the conversion cycle: inventory, payroll and cost accounting. This business cycle is to keep records of inventory levels in raw materials and finished goods and also this cycle have a payroll system that usually used in accounting and also in the companies. This business cycle is very important in the accounting, companies and also businesses by recording the labor transactions.

Treasury Cycle

The Treasury Cycle is the timing and frequency of the various maturities or treasury instruments; transactions include those related to financing the operations of the business ( e.g. issuance of capital stock or long- term debt). In this business cycle it shows the transactions related in financing and other operations in the business. It is the frequency of the transactions in financing and operations in the company and also in other business. This business cycle is very important in the business especially in the financing and other operations in the company.

POSTED BY: ALYSSA MARIE P. GABI

Business Cycle

REVENUE CYCLE

Is one of the Business Cycle, which is the revenue cycle is focusing on the profit or income on the business, The word cycle it’s means the sequence or succession of the business. It focuses the products their possession and priced in term of selling that product weather the price we given they able to have gain and benefits from the business. Actually the processes of the product in selling of the product from the company management they will have the midpoint for the selling of the company. Revenue cycle it occurs to the company when they sell the product if ever the company collect in full point of the sale furthermore they record the purchase that’s the way the revenue cycle complete and it usually done by the account receivable the department of the company.

In revenue cycle also have the Management for service Based Business, the company has a service selling it include the charge of the products as the same time. The management of this cycle for service business, it process in if they collect for services and supplies used at time of billing and it goes into the same revenue cycle processes if they only selling the services. Revenue cycle has collections processes that focus on the money for the business. Actually it is the process of the between the company and the purchaser, the company has a contract to the consumer for the full payment of the said amount of the product they sell to the purchaser they will update the time when must the consumer of the products complete the total amount. Usually it goes something like 30 days fallowed days or the date for the said payment.

The Expenditure cycle

This cycle is of the processes that could help define the point of business or the consumer purchased the given good services that necessary to the sell they have decide the term of the full payment of the purchaser. The process of this transaction was on the policies they talk about the company to the consumer of the product and services, all of these things are based on the step they vary. Its company has an agent to review demands or a request they find the requested item or product if they have steel available items for the purchaser. As of now at this days and times come the demand of the consumer has the possibilities it will increase or maybe decrease it depend on the demand of the consumers and population of the country. So it companies must prepared there products for the consumer.

Conversion Cycle

It is a conversation process that must have the acquisition of materials, and labor, in business it must be alert on to the labor, materials o f the company. On this conversion cycle has major groups of conversion cycle, which centered on the inventory. Inventory on conversion cycle is the process or a work to the required personnel to inventory the stocks of the products of the company it will set a schedule to inventory, trough this conversion it easy to determined the money-out and the money-in and the numbers of product if it was balance on the entirety money. We have payroll on this conversion cycle on this situation pointing on the employee on the company where they work for. The payroll of the employee it must on time as the company promise to them and the exact day or date for the payroll, we also a polices for the employer against to the company whop did not fallow the polices in term of payroll.

Treasury Cycle

It is the timing of the frequency of treasury instruments the transaction include the finance operation of the business. In nature of the business the service concern on deals of the rendering of services to the costumer.


POSTED BY: MIRASOL TAMPON

Rationalization for Business Process/ Business Drivers

Streamlining Business Process With Interactive Intelligence's Interaction Process Automation

               

In any business environment, it can be difficult to ensure all work, people and resources are on the same page. Keeping track of all of these things to ensure the business is as efficient and productive as possible can be even more challenging. Interactive Intelligence has developed the Interaction Process (IPA) to provide a unified platform for tracking of all three in order to allow business processes to be automated more comprehensively. This all-in-one “communications-based process automation” (CBPA) solution is designed specifically for mid- to large-sized organizations that are seeking to automated people-intensive processes. And, while CBPA is a methodology, IPA is a product that moves beyond enabling communications within applications or business process management suites to actually become the platform. When implemented, the IPA orchestrates the processes across people, departments and existing core business applications. While it may seem odd that a communications vendor would offer such a solution, a closer look and it makes sense. Applying automation to a business process has the same basic requirements as automation in the multichannel contact center. Unified communications is used in the contact center to drive routing, presence and collaboration to the right. The same concept is applied in the business setting to move work through each step of the business process.

As a distinct, add-on module to the Customer Interaction Center (CIC) platform, the IPA provides a truly end-to-end automation process that any business can use in any process, providing meaningful automation and management. And, as a software-based solution, it can be installed as an extension of an existing CIC system and integrated into enterprise applications such as CRM, financial management, databases or other back-end business systems.

Reference:  Susan J. Campbell is a contributing editor for TMCnet and has also written for eastbiz.com. To read more of Susan’s articles, please visit her columnist page

Edited by Patrick Barnard

OVERVIEW

To improve the efficiency of a process, business or organization by simplifying or eliminating unnecessary steps, using modernizing techniques, or taking other approaches. In any business environment, it can be difficult to ensure all work, people and resources are on the same page. And in the business the streamlining process needed to build a process into the IPA to simply decide what information should be tracked in the process; design the user interface forms the end user interface forms the end user will see; layout the process flow and deploy.

Flattening Organizational Hierarchies to Improve Service Delivery

The hallmark of management anywhere is service delivery which can be influenced by, among other things, hierarchy in terms of number, size and commitment to duty. Perhaps, propelled by uncontrolled capitalist tendencies in service delivery in Nigeria (and perhaps in other developing democracies) leaves much to be desired as can be seen in the epileptic system of education with numerous man-made problems leading to poor output. The worrying situation has compelled the federal government to seek ways of improving the situation hence it established Service Compact with All Nigerians (SERVICOM) to start the clean-up programmed from the upper echelon of the organizational hierarchy. As a supportive role to the programmer, flattening organizational hierarchy to improve service delivery is suggested. This may find expression in bridged status gap, enhanced subordinate-centered leadership, improved communication network and time management, belongingness and commitment to duty among other benefits. Modalities to achieve this would include: collapsing manageable adjacent bureaucratic bus-stops or hierarchies, decentralization of power and duties, sanctioning undue reprisal attacks, declaration of “open days”, mentoring and pal-assisted leadership, recognizing individual skills and potentials, and action research among other strategies. Educational implication for this finds expression in SERVICOM work ethics in educational institutions, CUBE and UNICEF school community and low level decision-making programmers such as Community Level Education Development Planning (CLEDEP) and Whole School Development Planning (WSDP), and the recommendation of Vision 2010 Committee on Education that the administration of education be decentralized and power returned to the base among other things.

 By: Anselm Chidi Njoku

OVERVIEW

An organization's structure means removing layers of management from the reporting hierarchy.

Employees in flatter organizations tend to have more long-term pay incentives, like stock and stock options. This is close to what is traditionally seen in a partnership, with significant pay increases associated with promotion, and a greater emphasis on long-term incentives relative to short-term compensation, especially at the top. Actually a process of the business is based on the holder of the company how they manage and control each situation of the company.

If there were 10 levels of managers between the CEO and the fellow doing the work, and some layers are removed so that there are only 5 levels of managers between the CEO and the fellow doing the work, then the organizational structure has been flattened.

Posted By: Sarah Jean Icoy

Rationalization for Business Process/Business Driver

Streamlining Business Processes

POINT OF VIEW

The streamlining business process is usually use in graphical representation of a process flow that displays the interaction of different parties on the process and how the process growths naturally through the different phases of the project. In any business environment, it can be difficult to ensure all work, people and resources are

 Keeping track of all of these things to ensure the business is as efficient and productive as possible can be even more challenging.  has developed the  (IPA) to provide a unified platform for tracking of all three in order to allow business processes to be automated more comprehensively.

In the business the streamlining business process needed to build a process into the IPA to simply decide what information should be tracked in the process; design the user interface forms the end user interface forms the end user will see; lay out the process flow; and deploy. To extend the value to the organization, IPA also provides access to knowledge management as it integrates through the e-FAQ to improve speed and accuracy in performing work activities. The streamlining business process is the process to be tracked the forms of end user.

The Flattening Organizational Hierarchies
 

POINT OF VIEW

Small businesses start out as "flat" organizations, with most employees reporting directly to the owners. However, as small businesses grow, they incline to add management layers and become hierarchical organizations with a chief executive officer at the top, followed by senior vice presidents, vice presidents, directors, managers, project leaders and finally employees. Flattening these hierarchies involves removing or combining some of these layers, which leads to organizations that can respond rapidly to the competition.

In flattening organizational hierarchies have a basic, significance, implementation and considerations. All of these needs in small business to make the business successful and progressive business. Here are the basic, significance, implementation and considerations.

Basics

Decisions in hierarchies can take longer because information has to flow through several layers before reaching the right person. This could mean missing profitable opportunities or reacting late to competitive threats. Flattening these layers compresses the time it takes for senior management to receive, process and respond to critical information. Flattening also reduces overhead costs, such as salaries and administrative expenses, which improve profitability.

Significance

In their book titled "Why Should Anyone Be Led by You?" London Business School professors Robert Goffee and Gareth Jones suggest that instead of using hierarchies as crutches to establish social distance, senior executives should be closer to their employees to know exactly what is going on. Distance is still important, the authors suggest, but only for long-term strategic planning. The right balance between closeness for operational reasons and distance for strategic perspective depends on the particular situation, but a flat hierarchy gives senior executives the flexibility to adapt their styles as they see fit. It also allows senior executives and employees to communicate directly, which builds trust and speeds up decision making. Globalization can lead to flat organizations, suggests Columbia professor Maria Guadalupe and Harvard professor Julie M. Wulf, because removing management layers can improve information quality and empower local managers to react quickly to changes in their business environment.

Implementation

Senior management should take a leadership role in flattening organizational structures. Small-business owners can implement a flat structure implicitly by communicating directly with everyone, from the vice president of marketing to the office receptionist. However, direct communication should involve more than just friendly greetings. It involves talking about strategic priorities and actively soliciting feedback on how to improve existing processes. In large organizations, flattening could also mean sharing resources, such as subject matter experts and equipment, among projects so that everybody can contribute to the corporate objectives.

Considerations

Flattening hierarchies may not be necessary in all circumstances. For example, the command-and-control hierarchical structures of law enforcement and military organizations work well to maintain order and discipline. Large multinational organizations need some form of hierarchy simply for logistical reasons. For example, overseas subsidiaries need to have their own management structures, and there should be a structure at headquarters to plan, coordinate and implement corporate strategies.

Introducing Complex  Technologies at a Rapid

Now a days our world is have more different technologies we have now that usually we use this all technology for our business, institution and our daily works. We know that every time our world changes and also our technology changes also to make improve and more progressive. The technology today is more important in our world because many works we did that accurately and more efficient and to make our work easier and accomplish at a time.

In today's flexible manufacturing and rapid response environments, there is an increasing requirement for variety and innovation. There is a growing acceptance of rapid prototyping technology in industry today in response to such requirement. Many firms have incorporated it into the mainstream of their product development process. 

POSTED BY: 

                        ALYSSA MARIE P. GABI

Rationalization for Business Process/Business Drivers

Streamline Business Processes using Swim Lane Diagrams

Posted 06-30-2008 3:19 PM by Billy McCafferty

Filed under: Project Management

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The following is an original article written by Kurt Sloan, printed here with permission.  Kurt's a terrific BA that I am fortunate enough to work with.

Swim lane diagrams are good tools to use to map a process flow and identify potential problem areas that need to be corrected.  Read on to learn what a swim lane diagram is, what information you need to use it effectively, and how to apply it to an existing business process.

What is a swim lane diagram?

A swim lane diagram (sometimes referred to as a “Deployment Process Map” or a “Cross Functional Flowchart”) is a graphical representation of a process flow that shows the interaction of different parties on the process and how the process progresses naturally through the different phases of the project. 

Swim lane diagrams can be tailored to reflect individual situations as needed, but almost always include the following information:

Process:  The actual process and flow that is being tracked through its identified progression steps.

Actors:  The people, groups, teams, etc, who are performing the steps identified within the process.

Phases:  These might reflect the phases of the project, different areas of the project, or any secondary set of key elements that the process flow needs to traverse to successfully complete this process.

Symbols:  These are the physical symbols used to graphically represent what is happening in any given step of the process.

Workflow Symbols

The area that holds most opportunity for individuality, and is the greatest source of debate in the development of swim lane diagrams, is in the selection and usage of workflow symbols.  A multitude of symbols is available to choose from when creating a process flow. The actual symbols you choose, however, are not as important as is providing the reader with the proper identification of those symbols and the meaning you are implying with them.  This is done most effectively by creating a detailed symbol legend.

Minimize the number of symbols presented on a diagram to reduce the chance of confusing readers.  If you are creating the process map as part of a team assignment, it is important to get team agreement on symbol meanings and usage prior to mapping out the process. 

The following symbols are basic to most swim lane diagrams and are usually sufficient to successfully conduct a process mapping, although users can add to or modify this to suit their tastes and needs:

Map Out Your Process

Step 1, Identification.  The first step is to identify the process that you want to analyze.  Identify a name and then a description for the process so that readers of the diagram can quickly and easily understand the intentions of the chart.  Put this information at the top of every page that you create. 

Step 2, Map the Process Steps.   You are now ready to identify your process steps and map them out using a swim lane diagram. Start by creating a blank matrix and then begin filling it in starting in the upper left-hand corner (which indicates the first actor at the earliest stage of the process) and moving down and to the right.  As you identify new actors add new columns to the right of the matrix.  New phases of the process are represented by adding new rows to the bottom of the matrix.

A basic swim lane diagram will look similar to the figure shown here:

Step 3, Get Details from Others.  As you beginning mapping out the detail of your process it is recommended that you schedule time with key actors as you identify them and ask them to describe the steps they go through for each section of the process that they touch.  These interviews will help you complete your physical process flow and can often help to identify misconceptions about the process that are currently in place.

Additionally, you may find it useful to add another column to the far right that represents the “System” as a unique user.  This can be very useful in showing how the process being mapped interacts with different project applications in place on the project.  For example, if you were mapping out a project scheduling process and the project is using Primavera Project Manager for tracking the scheduling activities, you might want to add a column to the far right of the chart called “Systems” or “P6” and use this column to show the calls to and the data returned from the system that affect the process.

REFERENCES

Posted 06-30-2008 3:19 PM by Billy McCafferty

Filed under: Project Management

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OUTLOOK

Streamline Business Processes using Swim Lane Diagrams is a way of   having a best planning for the business, for today’s a lot of business in our industries that could help us to give job to the people as an employee of the company. Above these they mention about streamline using swim line that means processes, which use a diagram to present by using a chart which you can identify, the subject. The mean purpose of the diagram is to deliver the report of flow of the process. Each diagram is in detailed to give the audience comfortable to the visual presentation we present to them.

In diagram we present it by deferent symbol to guide and present the process. It could help us to able have a right plan of the business trough of these system they get an idea  en term of processing , because it has a step to be fallowed on the diagram to get a successful transaction on the failed of business . Its chart / diagram has a flow that is what we called a processing each transaction has a flow and it should be fallowed.

In the world of business we must wise in term of business, because we seek for money and benefits.   Then if you were mapping out a project scheduling process and the project is using Primavera Project Manager for tracking the scheduling activities, you might want to add a column to the far right of the chart called “Systems “and use this column to show the calls to and the data returned from the system that affect the process and it will lead to the person on that processes. Streamline means to make more efficient it is a way on the business to make it must better than on present so streamline in business is there is the away to fallow for the next level, next level because it is under observations if the plan of the process on the business is affectively.  A basic swim lane diagram will look it detailed the step of each personnel on the business or an actor. Everything on the business field it started on planning so the swim lane is one of a best way that fit on the busines

The Flattening Organizational Hierarchies OUTLOOK The Flattening Organizational Hierarchies this is discussed about the organization of business how it’s established a business. In term of a big business it composes of organization to be as a whole and discussed the basic needs of the company and how to manipulate it successfully. We have to term of flatter organization it has a long term and short term for flatter organization. By focusing on partition manager positions for which they have a number of years of data - and which were not affected greatly by restructuring over the period - the authors show that, in spite of changes in size, management ranks are becoming compliment. Further, more divisional managers are being appointed officers of their companies those person has their on position and obligation on the organization to be organized. In flatter hierarchies is the salary of the person less than that person employed and it depend on the position the have so the wage is based on the job or position you have work for. Employees in flatter organizations tend to have more long-term pay incentives, like stock and stock options. This is close to what is traditionally seen in a partnership, with significant pay increases associated with promotion, and a greater emphasis on long-term incentives relative to short-term compensation, especially at the top. Actually a process of the business is based on the holder of the company how they manage and control each situation of the company. Introducing Complex  Technologies at a Rapid  OUTLOOK Reference of  picture; www.medicaltechnologies.com.au/Naka-cache - Katulad  In our industries today’s a lot of deferent technologies we have now for it has deferent used, either in business, educational and etc. In today's flexible manufacturing and rapid response environments, there is an increasing requirement for variety and innovation. There is a growing acceptance of rapid prototyping technology in industry today in response to such requirement. Many firms have incorporated it into the mainstream of their product development process. From the inception of rapid prototyping, its very function was directed at design verification. Usually the technology in demand in term of business in our industries. Technologies have a big support on business by an internet using the technologies just to promote their products. In technologies the other work are make easy because of the help of technologies. Before people are just work by manual unlike now there is a technologies could help to the people their work made easily. Long time   we have no medical technologies for the patient to help them to know their health problem and now we have several of technology.Established in 1989, Medical Technologies is the leading provider of Biomedical Services and premium Medical Equipment to Western Australian Hospital and Health Care Facilities. Medical Technologies facilities are available in all States of Australia, New Zealand and the South Pacific region. They are the medical who usually used efferent types of medical technology  But sad to say that technology also can cause of bad influence a give way illegal action trough the technology. The time goes by the technology where upgrade the capacity of them in how they work it wills much high-tech as we expected it.  Posted by: TAMPON MIRASOL