A large proportion of the company performance of financial service providers comes from business processes. These processes operate on a cross-hierarchy, cross-domain, and cross-department level and are difficult to manage from the perspective of traditional organisation. At the same time, the company needs to be able to deal with growing and above all changing challenges. Therefore companies often rely on an explicit process management system.
Typically, one of the following goals is pursued thereby:
- Documentation of processes, e.g. in the context of quality management + certification
- Optimisation of processes through reorganisation of actual processes. This is frequently a direct consequence of documentation, since the existing weaknesses of processes become evident.
- Technical support of processes. As a rule, a process engine is used to handle the workflow for this. The process modelling needs to be more detailed and precise than when it is only necessary for documentation purposes.
- Day-to-day process management by means of observation, assessment, and adaptation
One must not thereby disregard the fact that the optimisation or automation of processes is a demanding task in which it needs to be clear which specific goal should be pursued.
Advantages of process optimisation
- Reduction of process costs
- Reduction of process cycle time
- Improvement of process quality, e.g. to improve customer satisfaction
- Improvement of process transparency, e.g. as a basis for process monitoring
- Increase in process flexibility, e.g. to react faster and more effectively to new challenges