Workflows in Datarails enable users to manage processes involving multiple individuals. They provide a platform for task management and tracking deliverables, making them particularly beneficial for overseeing the end-to-end maintenance of Financial Statements reporting.
- Periodic Reporting: Automate the preparation of one or many reports on a regular schedule.
- Data Validation: Ensure data accuracy by automatically identifying and correcting mismatches.
- Report Sharing: Easily distribute reports to your team members.
- Role Assignment: Define owner and viewer roles for team members to control access and collaboration.
By leveraging automation and algorithms, Datarails workflows reduce the manual effort required for these tasks. This allows you to concentrate on ensuring data quality and reviewing the final reports.
Setting up the Workflow
- Go to the Workflow section from the left side panel.
-
Workflow General Settings Interface
- Select New Workflow to access the settings interface.
- Workflow Name: Designate a name (e.g., "Monthly Reporting").
- Workflow Type: Choose between "Financial Reporting," "Budget," and "Forecasts."
- Recurrence: Decide if the workflow should repeat (e.g., automatically on the first of each month).
- Cadence: Define which file boxes can be added (e.g., only monthly file boxes can be added to a monthly cadence workflow).
-
Configuring the First Instance
- Select the Date Tag: Choose the relevant date tag (e.g., "June").
- Set a Due Date: Specify the due date (e.g., 31st of July).
Workflow Steps
There are four step types to include in your workflow:
-
Inputs: Used for individual data entries such as general ledgers or trial balances. Data can be manually uploaded or synced via an integration.
-
Configuration: Designed for lookup tables, like a chart of accounts or intercompany mapping.
This step helps review the status of current lookup tables and identify unmapped items. -
Output: Encompasses the final products of a workflow, such as a P&L for monthly reporting or a budget file. Can include related dashboards once the necessary steps are set.
-
Collection Management: Useful for stages of the financial process requiring various inputs from multiple participants. Aids in tracking tasks and facilitates internal communication, like version approvals or rejections.
To include a step:
Click the blue plus icon and select a new step type.
Rename each step and add a description.
Add relevant file boxes by selecting "Add File". For monthly processes, only file boxes with a monthly tag, like GL (General Ledger), are available.
Workflow Types
Datarails offers several types of workflows, each designed to assist in different circumstances. While workflows may share similarities, they cater to specific needs:
- Reporting Workflow: Ideal for regular tasks such as month-end reports or quarterly P&Ls.
- Budget Workflow: Used for annual budgeting processes.
- Forecast Workflow: Designed for creating forecasts outside of the annual budget.
- Ad Hoc Workflow: A flexible, free-form workflow for specific purposes, such as proof of concept or responding to an RFI. You can clone an existing workflow to save time.
Despite their difference, all workflows share these stages:
|
Stage
|
Description |
|---|---|
| General Settings |
Define the timescale for the workflow. Select the type of workflow from the dropdown menu. Frequency: Determine if the workflow is a one-time process or a recurring one. Completion Date: Set the target completion date for the workflow. |
| Select Outputs |
Upload Templates: Upload the file(s) that will serve as templates. These templates will consolidate the various inputs into the final report. Final Outputs: The outputs are typically Excel reports, but they can also be PowerPoint presentations. These presentations can be published to your Dashboard for interactive use. |
| Workflow Steps |
Input Files: Upload the input files needed for consolidation. Mapping Files: Include mapping files that define how data should be merged. Additional Files: Upload any additional files required for the process, such as an Assumptions file. |
| Collaborators |
Select Users: Choose the users who will be involved in the workflow and those who will receive the final output. Assign Roles: Determine the roles for each user: Assignees: Users who will work on the file contents. Workflow Owners: Users with permissions to control the content of a Filebox. Permissions and Notifications: Each role comes with specific permissions, and users will receive notifications based on their role when certain actions are triggered. |
| Activate Workflow |
Data Mapping and Consolidation: Once all inputs and tasks are assigned, Datarails maps the inputs and consolidates the data from various sources into the specified output files. Automated Sharing: The workflow automatically shares the reports with the users defined during the setup. |
| Future Iterations |
Automation: If you set up the workflow as recurring, Datarails will automatically repeat the workflow using the latest version from the Fileboxes. Quarterly Option: For quarterly workflows, you can select the option to repeat automatically on the first day of each quarter. |
Actions by user role
Actions for Viewers
Download and view the final report(s).
Actions for Assignees
Complete assigned tasks with attention to due dates. Tasks may include:
- Uploading files
- Syncing files
- Mapping unmapped items
Actions for Owners
Contribute to or edit the workflow, including:
- Setting workflow settings: frequency, type, recurrence, and due date
- Defining workflow steps: input files, configuration, and outputs
- Assigning tasks to users and setting due dates
- Reviewing and approving input files edited by Assignees
- Deciding who receives the final output
- Sorting tasks and tracking progress against due dates
Lock / Unlock a Filebox Version
Owners can control access to the Filebox by locking it. When a Filebox is locked, the lock applies only to the specific version with its associated date tag. Other versions in the Filebox remain unaffected. This ensures that the version used for the workflow remains unchanged.
Clone a Workflow
Workflow owners can create one or multiple instances of an existing workflow, using either the same or a different time frame. The workflow is fully duplicated except for task statuses. When cloning a workflow, assignees are also copied to the new instance. Follow these steps to clone a workflow:
- Open the relevant workflow.
- Click the Clone button to open the 'Clone Workflow' window.
- Choose the date tag and due date, then click Done.
- The cloned workflow will open.
Manage workflow
The Collection Management screen allows workflow owners to manage workflow tasks efficiently.
Track Progress
Datarails tracks progress against two key dates:
- Budget Completion Date: The date set by the budget workflow owner for issuing the completed budget file. This date is defined during the workflow setup.
- Task Completion Date: The date by which assignees must submit the approved versions of their files. This date is set by the owner when assigning tasks, and all assignees share the same due date.
Task Actions
For each task, several actions can be performed:
- Change Assignee: Add or change some or all task assignees.
- Review Last Update Date and Data Status: Check the most recent update and current status of the data.
- Perform Actions: Actions vary depending on the workflow step and type. For example: Upload New Version and Update Unmapped Items.
- Task Status: The default status is incomplete. When the task is completed, click 'Mark Complete'.
- Lock/Unlock the Filebox.
Split a Budget File
Split File enables you to split a file as part of the budget workflow. Based on your filter definition, Datarails splits the file into different sections, so that team members can each work on 'their section'. A typical use case is to split the file by department.
When the files are uploaded and the budget owner has approved the content, the files are re-consolidated back into one master file as part of the workflow.
- From the Inputs step of the Budget Workflow, click the 3 dots icon to select Split File. A new screen opens.
- Enter these details:
- Data table
- Split by field
- Values: Select one or more values to create a file split the values
- Click Next. A new screen opens.
- The screen lists the files that will be created so you can assign them.
- Add Assignees.
- Click Advanced: Set the options as needed: add tags, edit the folder name, set the file status (draft / final).
- When you have the settings you want, click Split File.
-
Datarails splits the file. When you see the screen Split completed, click Go to Workflow to return to the Data Collection step of the budget workflow.
- Continue with the rest of the budget workflow.
© Datarails Ltd. All rights reserved.
Updated
Comments
0 comments
Article is closed for comments.