Wait Step Event in Workflows

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Update:

If you use the "Advanced Window" option for the "Wait Step" function in the Workflow Builder, you can now set the exact day of the week and time you want the next action to fire after the wait step has elapsed.  

Toggle the "Advanced Window" to "On" and then under the "Resume On" section, click on the drop down menu next to "Window" and then click "Exact."  From there, you can type in the time that you want the next action to fire after the "Wait Step."