Case Study

Financial process in the cloud.

Any pure financial process and any other administrative workflow of the finance area of any company have always been under the microscope for automation and improvement. In fact, they were among the first applications of workflow and BPM tools.

Lately, and with the advent of cloud technologies, automation, optimization and digital transformation of these processes have precipitated. This has been based on three main pillars:

  • BPMN as standard for process modeling eliminated the gap between functional and technical. It is now possible for functional analysts to define, discuss and communicate processes simply and effectively.
  • The expansion and professionalization of low-code and no-code BPM Suites, which make it easier to put complex processes into operation, without programming and without requiring computer technicians.
  • The growing confidence in the cloud. More and more Banks, Financial Institutions, Insurance Companies, have defined their strategic line of IT in the cloud.

Which financial process?

There is a financial process for every taste. But there is a common factor in those that have an administrative root: they can be automated and improved with Workflow and BPM technology.

In general, there are 3 main components in this type of processes:

  • A form, that allows (without programming) to have fields that will house the relevant information of the process. In other words, the data that is of interest.
  • A Workflow, that describes graphically (by means of a diagram), the stages that must be followed by the form to reach the objective of the process.
  • Users and roles, who participate in the process in its different stages. And therefore, they have different permissions in each task.

Mixing these concepts, our imagination flies towards an endless number of useful processes and workflows…


Automation of any financial process or administrative process from any finance area, using Flokzu Cloud Workflow and BPM Suite.

Simply as an example of financial processes that we have seen substantially improved through their automation:

  • Mortgage loans. The form stores the data of the asset and the applicant. The workflow goes through different reviewers and approvers. The BPM Suite notifies the resolution to the client. This financial process allows for centralizing documentation and audit trails.
  • Evaluation of expenses and investments. Authorization levels by amount, four-eyes principle, separation of duties: typical requirements of this kind of business process.
  • Money/Investment rescue. From the client’s request to recover their funds, through authorizations and documentation reviews, to the transfer to his account. This process has a high impact on investor satisfaction.
  • Inspection prior to securing. Avoiding fraud is only one of the benefits of formalizing this process. Having the warranties and photographic records prior to securing any property is a highly recommended practice.

Administrative processes of the finance area

The finance area of any company (not only those of the financial sector), supports its operations with administrative processes. Many times, these processes are known as “workflows of the finance area”.

The spirit is identical to financial processes. A form with fields moves through the organization following a predefined workflow. As an example:

  • Reimbursements requests. Alias “headache”. Its automation reduces costs and time. Also, it avoids thousands of calls to know the status or to find lost cases. Finally, people register expenses from their cell phones, with a photo, and can track them until they are paid.
  • New offices. Acquiring or simply opening a new office requires several approvals and a large amount of documentation. Digitizing this process allows to do it with the certainty that all the controls are carried out.
  • Management of Contracts, both with customers and suppliers. Giving visibility to the conditions, without having to go looking for the physical paper, generates enormous benefits and reduction of time (costs). In addition, proactively managing due dates, ensures customer continuity and facilitates renegotiation with suppliers.

Low-code + cloud Workflow.

The wonderful thing about low-code and no-code Workflow technologies is that they enable business users (non-IT users) to digitally transform processes such as the ones presented in this post.

If we add the cloud, we have a powerful tool to put any financial process to work in terms that until a few years ago seemed impossible.

Shortening the time needed to automate a process has two advantages. First of all, it significantly reduces costs, given that the hours required are much less. Furthermore, it provides an unprecedented ability to react to changes (regulatory, legal, market).

These are the reasons that dozens of financial organizations have considered when they decide to opt for Flokzu to automate their processes. In fact, from banks to microcredit, large insurance companies and investment funds, have taken advantage of cloud workflow technology for their financial processes.

In addition, in all sectors of activity, there are workflows in the finance area that can be improved through automation. Moreover, efficiency and effectiveness are added to a noticeable improvement in the satisfaction of external and internal clients.

If you have doubts about what it would be like to use Flokzu in your company, we offer you a free trial of our Premium service and we will help you create your first workflows (in minutes, and without complex configurations).



Try Flokzu now

Click here for a demo. Certainly, in 30 minutes you will have your first financial process running.

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