Disclosed is a system and method for cross enterprise collaboration for processing a transaction request. The method includes a mechanism for collaboration to resolve context specific tasks in a structured manner requiring inputs from various stakeholders situated in different enterprises. The metadata associated with each of the activities in the workflow is collected to create a workflow. The method further allows the role-based users to extend the workflow by authoring customized activities and share context specific information and artifacts. The method includes memory efficient version of doubly linked list using one address field for every node to process one or more transaction requests at a given point of time.