PRIME maintains and improves its reputation by constantly remaining focused on client needs. We have extensive experience in Continuous Business Process Improvement solutions for both private and public sector organisations. The successes these companies have experienced in improvement are directly attributed to the PRIME methodology and its innovative approach.
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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 keep up with the dynamic business environment and ever changing regulatory requirements, many fundamental business processes become inefficient and error prone.
Our experience with the Banking and Insurance industry indicates the following benefits for PRIME BPM in Banking and Insurance:
After the global slowdown, organizations in the manufacturing industry are challenged with increasing the topline, and at the same time trying to keep the cost of production to a minimum.
Faced with a need for eco-friendly innovations, continuous technology changes, an expectation of a consistent multi-channel customer experience and top-notch after sales service, it can be said it is a challenging time for the manufacturing industry.
Add to the mix a global slow down, unpredictable demand and regulatory changes there is no doubt it is quite difficult to keep increasing the topline and keep the costs to a minimum.
If there is any industry that needs to be burning the candle at both ends, it is the manufacturing industry. By both ends meaning, looking closely at improving the processes associated with increasing the topline and at the same time assessing where in the organization, a cost decrease can be achieved and efficiency can be gained.
Turbulent times, requires business agility. Business agility is achieved by having transparency and clarity of how the business operates, hence its business processes. With transparency, quick, well-informed decision can be made and the change implemented and managed.
The advancement of technology has seen the telecom industry change at an extremely rapid rate.
The impact on business has seen the voice revenues wane fast. In addition, there has been an influx of competition from new types of service providers. There has been an ever-growing demand for internet and mobile communications and the peak of this demand has not yet reached the top of the bell curve.
There are two certainties in this turbulent environment – change and competition.
For both these certainties, Business Process Management (BPM) is the solution. Transparency of business processes and in particular roles and responsibilities enables a quick response to change. Knowing how the business currently operates, and who is responsible and accountable for what gives the clarity for fast decision-making and change implementation.
This transparency also enables the calculation of waste and the identification of business improvement opportunities because the operational and support process needs to be lean and flexible to wane off the competitors.
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For the retail industry, it is like walking a tightrope while managing the ever-increasing customer expectation.
Stiff competition due to online sales, from existing and mushrooming new entrants while at the same time managing the demand of maintaining a steady upward curve of revenue, customer service and organizational efficiency. Delivering a high-quality product, with a short delivery time, at a globally competitive price via a variety of technology driven channels is the balancing act.
To walk this tightrope effectively, Business Process Management (BPM) is key.
The logistic and supply chain management (SCM) industry is frequently challenged to effectively plan operations. That is, the inability to properly match resources to requirements and assigning human, financial and material resources to the requirements. As a result, the cost and efficiency of the supply chain are affected, hence resulting in increased operational cost.
Tied up capital in inventory is another big roadblock. This increases the stock maintenance cost and the financial flexibility of the organization is compromised.
In addition, the lack of real time communication between the supply chain partners and visibility through the supply chain results in delays in procurement.
These are real limitations to organizational success and can be addressed through gaining transparency into the SCM business processes with Business Process Management (BPM). With the transparency that BPM provides, causes and appropriate solutions can be found to these business challenges.
The Healthcare industry is always facing the challenges to keep up with the new clinical practices, administrative standards, cost reimbursement methods, and government regulations. With new regulations, technologies, standards and mounting data to analyze and share; maintaining quality patient care and adding value to the organization is becoming more and more complex and daunting.
Business Process Management (BPM) enables Healthcare and Pharmaceutical organizations to respond better to industry developments, reduce the risk of human error, and improve patient care and improved operational efficiency.
With experience in this industry vertical, PRIME BPM offers you the tools and techniques to achieve:
Construction companies face unique challenges arising from their various business processes like approval process from various authorities, vendor selection process, financial decision making, determining feasibility, selection and tracking of material, tracking of work progress etc. These processes are highly dependent on various dynamic market scenarios and are also person-dependent.
These processes often face inadequate management, lack of coordination, a lot of manual paperwork, lack of availability of information and lack of monitoring. These bottlenecks make the project inefficient and may cause budgets to overrun.
To increase efficiency and create a focus on the topline, profitable construction companies have used Business Process Management (BPM) and have implemented various IT solutions such as ERP, MIS etc. resulting in more control on their processes and more efficient operations.