Reasons to implement BPM software in your bank
According to recent researches, the four interconnected technologies that are "on the crest of the wave" today are mobility, clouds, social media and Big Data. They radically change existing business processes, and companies that ignore these technologies today will inevitably become outsiders tomorrow. It especially concerns those industries that are traditionally customer-oriented: consumer goods production, retail business, healthcare, insurance and, of course, banking services.
BPM systems are designed to automate the strategic planning of business development and, simultaneously, to support tactical (or operational) management of business processes at different levels. The task of BPM products is to help in realizing strategic business goals in real conditions. To achieve this, BPM software should provide its users with the right information at the right time to improve the management of operational activities.
Banking BPM system is designed to support the full cycle of bank management. So what are the benefits of transferring to a process-driven BPM system?
- Reduction of the processes execution time by automating more than 30 steps of the end-to-end process. A “machine” does everything “machine” can do, without the participation of employees or with their minimal participation.
- Increased transparency in operations. Due to the fact that BPM system combines dozens, hundreds or thousands of simultaneous operations, managers are able to track the current stage of execution, responsible persons and other information on each step of the process.
- Minimization of the number of erroneous operations due to the fact that the execution of the business process is regulated by the system.
- Systematization and improvement of business processes. BPM system provides an opportunity to set clear indicators of the whole process effectiveness and individual steps for each process, automate the collection of statistics, which in complex accelerates the achievement of business goals.
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