With the following Swantide workflows
Update Contact Pick-List from Another
Update Lead Pick-List from Another
When a value from one picklist is change, you can automatically update another picklist value within the record in scope.
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Say if I have a field on the Lead called Lead Source, and when that value changes to "Web" then the workflow can update the secondary picklist value field of Lead Staus to Contacted.
From whats on the Record:
From whats getting updated on the Record:
Once Field Lead Source is updated to "Web", Lead Status gets Updated to "Working - Contacted"