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Technically it is also possible to use the former recommended process flow, but this often leads to performance issues i.e. CPU Limit Errors

Here an example for a field update: 

Info
titleExample
IF(ADvendio__from_Date__c >= TODAY() && ISBLANK(ADvendio__Ad_Id__c) &&ADvendio__Submit_to_AdServer__c = true && ADvendio__CreativeUploaded__c = false, "New", 
IF(ADvendio__from_Date__c >= TODAY() && NOT(ISBLANK(ADvendio__Ad_Id__c)) &&ADvendio__CreativeUploaded__c = true,"Ready for delivery", 
IF(ADvendio__from_Date__c <= TODAY() && ADvendio__until_Date__c >= TODAY() && NOT(ISBLANK(ADvendio__Ad_Id__c)) && ADvendio__PerformanceIndicator__c >= 1 ,"Running performance OK", 
IF(ADvendio__from_Date__c <= TODAY() && ADvendio__until_Date__c >= TODAY() && NOT(ISBLANK(ADvendio__Ad_Id__c)) && ADvendio__PerformanceIndicator__c < 1,"Running underperforming", 
IF(ADvendio__until_Date__c < TODAY() && ADvendio__Quantity__c <= ADvendio__Delivered_Impressions__c , "Finished goal reached", 
IF(ADvendio__until_Date__c < TODAY() && ADvendio__Quantity__c > ADvendio__Delivered_Impressions__c , "Finished goal not reached", "Other"))))))