A recommended Workflow to enable before enabling this Workflow is Track BANT Fields on Leads Records. Which you can read about here.
With this Swantide Workflow, you can deploy a Formula Field to check whether or not BANT has been completed. You can use this Formula Field in reports to get on a pulse on which records have had BANT completed. Additionally, this can be used in Validation Rules to enforce reps to enter key BANT fields before Converting Leads or Changing a Lead's Picklist Field such as Lead Status.
Use Case 1: You already Enabled Track BANT Fields on Leads Records
If you already enabled the Workflow "Track BANT Fields on Leads Records" then you can includes these fields into your Variable Inputs. The 4 Key fields for BANT are Budget, Is Decision Maker (Authority), Need, and Timeline.
Once a Rep updates a Lead Record and has entered in values for these 4 Fields then the BANT Complete Checkbox will equal true.
This will help you then identify Leads in a report that have been successfully prospected for BANT. Furthermore, you can use this Checkbox as a safeguard in a Validation Rule to ensure Reps are entering in key BANT data before Converting them.
Use Case 2: BANT with a Little Bit more Flair!
Keeping track of the 4 Key BANT fields is cool but what if you want to also include other fields as part of your BANT Methodology? Well you can do just that with Swantide! In the below screenshot, I extended the BANT Complete Formula Checkbox to also check whether LeadSource or Marketing Stage isn't Blank.
Therefore, once the Rep enters a value for all these fields then BANT will be marked as Complete!
