Tamarack Technology released the third and final whitepaper in a series examining the application of artificial intelligence (AI) in the equipment finance industry. Titled “Distributed Workflows: Innovation that makes remote work work,” the paper is available for free download at Tamarack’s site.

In the new environment built around hybrid and remote work, traditional workflows have become antiquated and demand digital innovation. Central to distributed workflows is the generation, analysis, exchange and storage of data. The final paper describes the need for distributed workflows in a post-pandemic world.

“In this new post-pandemic world, digital strategies are needed to support remote work and workflows that are now widely distributed,” Scott Nelson, president and chief digital officer at Tamarack Technology, said. “Distributed workflows will force organizations to become more data-centric, requiring that they provide anywhere/anytime workflow access to staff and also 24/7 access to customers as the new norm.”

By addressing three behaviors, the distributed workflow delivers more value to customers and drives innovation by changing how the organization leverages its data:

• Data-Centric Cultures:Every workflow step, decision and communication is digital, documented and recorded.
• Data Accessibility:All data is housed in a single location providing multiple distributed teams access for analysis, business intelligence, decisions and process execution.
• Customer Engagement:Customers require faster decisions and on-demand access to all of the information pertaining to their business with the organization. They expect a digital experience that delivers their financing transparently and without delays.

“At its core, innovation is about changing behavior,” Nelson said. “Companies that want to survive and thrive in the new norm must change the way they behave. They must innovate the way they do work. By building a distributed workflow, designed to change how an organization interacts with its data, opportunities for innovation will be discovered.”