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Financial close management [1] (FCM) [2] is a recurring process in management accounting by which accounting teams verify and adjust account balances at the end of a designated period [3] in order to produce financial reports representative of the company's true financial position [4] to inform stakeholders such as management, investors, lenders, and regulatory agencies.
WfMS allows the user to define different workflows for different types of jobs or processes. For example, in a manufacturing setting, a design document might be automatically routed from a designer to a technical director to the production engineer. At each stage in the workflow, one individual or group is responsible for a specific task.
jBPM (Java Business Process Model) is an open-source workflow engine written in Java that can execute business processes described in BPMN 2.0 (or its own process definition language jPDL in earlier versions). jBPM is a toolkit for building business applications to help automate business processes and decisions.
Examples of specialized languages that can be used for workflow definition in this manner include: XPDL; YAWL (Yet Another Workflow Language) SCUFL (Simple Conceptual Unified Flow Language) The above languages are based on XML syntax and while suitable for manipulation by software, they may be difficult for non-technical people to work with.
Camunda is a process orchestration platform used to control complex business processes for enterprise companies. The software is classified by specialist media as a business process automation tool [2] or digital process automation software and therefore represents a further development of the classic workflow management platform.
A workflow engine is a software application that manages business processes. It is a key component in workflow technology and typically makes use of a database server . A workflow engine manages and monitors the state of activities in a workflow , such as the processing and approval of a loan application form, and determines which new activity ...
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