BANKING AND INSURANCE
Banking and Insurance organizations are faced with the challenges of rapid digital innovation within the industry and an increasing number of new business processes due to geographical expansions.
In addition to the above challenges, there is an increase in privatization in the industry and more competitors are entering the market space.
With such challenges, focus must be given to the clarity and efficiency of business processes. Creating efficient customer focused processes through Business Process Management (BPM) is the key to obtaining and retaining customers.
The challenge is that these business processes do not rely on a single isolated information system. It is rather a multifaceted implementation model that spans across multiple IT systems, departments, roles and geographical locations. To add further complexity some of these processes are automated while some are manual.
As a result, while trying to cope up with the dynamic business environment and every changing regulatory requirements, many fundamental business processes become inefficient and error prone.
What PRIME BPM in Banking and Insurance Can Do For You:
Our experience with the Banking and Insurance industry indicates the following benefits for PRIME BPM in Banking and Insurance;
- Keeps you abreast of compliance obligations via its efficient compliance management
- Manages business changes effectively through process simulation with What-If analysis and impact analysis
- Manages your risks
- Enables improved customer service via value stream mapping
- Minimizes operational cost and improves your process efficiency due to its end to end process improvement methodology
- Provides tools such as process comparison and collaboration, to enable the standardization of processes across branches and geographies
CHOOSE YOUR PRIME EDITION
PRIME Modeller is an intuitive business process-mapping tool with an integrated process repository for all your process maps and process information. Create a catalogue of processes that represent your organisation and gain visibility into how these interlink. Create process maps using BPMN 2.0 standards and record detailed process attributes to gain true process transparency. Export process maps to share for review....More ++
PRIME Analyser is a quantitative analytics engine built into PRIME. Analyse your business processes and identify process issues, record the root causes and the improvement opportunities. Keep abreast of compliance and audit requirements; perform cost, time and value analysis along with process version control, approval workflow, collaboration, custom reports and security features....More ++
PRIME Improver is the full-featured PRIME edition. With inbuilt APQC best practice process libraries, process mapping functionality, mapping rules and guidelines, process analyser and process simulation engine it offers an end to end Business Process Management (BPM) and Continuous Business Improvement (CBI) capability to your organization....More ++