Newji case study: Doubling approval speed while maintaining internal control through workflow settings

Introduction to Newji’s Success

Newji, a rapidly growing company, faced a classic challenge many businesses encounter: balancing efficiency and internal control.
As the company expanded, its approval processes began to slow down, affecting productivity and overall responsiveness.
To address these challenges, Newji implemented a series of workflow improvements aimed at doubling their approval speed while maintaining strict internal controls.
This case study explores how Newji achieved this remarkable feat.

Understanding the Challenge

As businesses grow, so do their operational complexities.
For Newji, the approval process had become a bottleneck.
The demand for quicker decision-making clashed with the necessity of adhering to stringent internal control measures.
Sluggish approvals not only delayed projects but also hindered the company’s ability to remain competitive.
There was a pressing need to streamline processes without compromising the rigor of internal checks.

The Importance of Internal Controls

Internal controls are crucial for any organization to prevent errors, fraud, and ensure compliance with regulations and company policies.
For Newji, sustaining robust internal controls was non-negotiable, even as they sought to accelerate approvals.
The challenge was to find a solution that would reconcile these seemingly opposing goals.

Implementing Workflow Adjustments

Newji embarked on a journey to refine their workflow processes.
The goal was to enhance efficiency by identifying and eliminating unnecessary steps in the approval chain.
To achieve this, they turned to technology and strategic planning to re-engineer their workflows.

Analysis of Existing Processes

The first step in this process was a thorough analysis of the existing approval workflows.
Newji mapped out each step in the process to identify redundancies and areas for improvement.
This analysis revealed several inefficiencies, such as multiple approval layers that could be consolidated and a lack of clarity in role responsibilities.

Redesigning Workflow Structures

Following their analysis, Newji designed a new workflow structure.
They introduced automated workflow systems that incorporated predefined rules, ensuring that approvals were triggered promptly once certain criteria were met.
This automation reduced the unnecessary manual intervention that was slowing down the process.

Technology Integration

Newji integrated advanced technology solutions to support their new workflow design.
They adopted a workflow management software that allowed for real-time tracking and notifications, ensuring stakeholders were informed of pending approvals.
The software also provided an audit trail for each approval, critical for maintaining internal control and accountability.

Building a Culture of Efficiency and Control

Beyond technology and process changes, Newji recognized the importance of fostering a culture that valued both efficiency and control.
They took several steps to ensure their teams were aligned with the new processes and understood the importance of both speed and accuracy.

Training and Communication

Training was a key component of Newji’s strategy.
They conducted comprehensive workshops to educate employees on the new workflows and the technology supporting them.
Clear communication from leadership underscored the importance of the changes and how they aligned with the company’s broader goals.

Encouraging Feedback

Recognizing the value of employee insights, Newji encouraged feedback on the new processes.
This feedback loop allowed for continuous improvement and fine-tuning of workflows, ensuring they met the evolving needs of the company and its employees.

Measuring Success and Continuous Improvement

With the new workflows in place, Newji set benchmarks to measure the success of their efforts.
By tracking key performance indicators, they could objectively assess whether the changes were having the desired effect.

Assessing Impact

One of the primary metrics was the time taken for approval processes pre- and post-implementation of the new workflows.
Newji was pleased to find that approval times were reduced by over 50%, without any sacrifice in control or accountability.

Maintaining Vigilance

Newji understood that ongoing vigilance was necessary to maintain their achievements.
They established a dedicated task force responsible for continuously monitoring workflow efficiency and making adjustments as necessary.
This proactive approach ensured that they were able to swiftly address any emerging challenges.

Conclusion

Through careful analysis, strategic planning, and the integration of technology, Newji was able to successfully double its approval speed while maintaining robust internal controls.
The case study of Newji serves as a valuable example for other businesses striving to optimize their processes without compromising on control.
By focusing on efficiency, communication, and a commitment to continuous improvement, Newji not only achieved their goals but set the stage for sustained success in the future.