Workflows are an integral part of your CRM experience. They can be used for a variety of ways, from automatically sending e-mails, to updating records, or creating new ones, but the overall theme remains the same; saving users time and and effort by running processes in your system's background.
Setting up workflows can be a fun process once you get the hang of it, but going into the set one up the first time can prove daunting.
While Cobalt provides some workflows as part of your implementation, the process for creating new ones is included in Microsoft CRM so there are a lot of resources available.
Here are a couple of helpful videos for users interested in creating workflows!
Workflows - An Introduction to Workflows https://www.youtube.com/watch?v=G_cwJipEsl4
Workflows - Using Workflows to Update Records https://www.youtube.com/watch?v=qyg2gjNXHC8
Workflows - Sending an Email Notification https://www.youtube.com/watch?v=GPtQYDwAn1s
This next link provides a number of definitions of various things you can do with workflows, as well as defining certain terms and conditions: