What is ELCM?
Entity Life Cycle Management (ELCM) is a configurable workflow solution that can be used to assist with the automation of management change requests, approval of requests and reporting.
ELCM comprises three components: Change Manager, Workflow Manager, and ELCM -the configuration tool that assists with customisations.
How does it work?
When an entity change is significant, a request for input from different users or departments may be required for completion. ELCM automates these requests, including approvals, rejections and reporting, for the entire approval process.
Entity updates can be tracked, reviewed and managed rapidly to enable proper control over the change process. Examples of these changes may include creating a new entity, changing a company name, or updating entity details.
The workflow within ELCM is shown below:
- A request for a change is entered into ELCM, which triggers a workflow process.
- Notifications to Approvers are initiated, prompting for their input.
- Approvals are logged, providing organisation and timely reporting.
- Updates to Diligent Entities are made.
- Notifications of the finalised changes are sent out.
Designated Approvers have the opportunity to provide feedback regarding the requests in a workflow process. Feedback can include making appropriate decisions regarding the outcome:
- Reject - Allowing for the request to be resubmitted.
- Suspend - Places the request on-hold pending further details or clarification.
- Cancel - Stops the request. Any further follow up will require submission of a new request.
