Product Type: Market Research Report
Published by: TowerGroup
Published: September 2004
Product Code: R301-1061Description This TowerGroup Research Note introduces a generic financial services definition for Business process management (BPM)
and provides a framework that outlines the management support services and technologies that are
associated with BPM initiatives. The Note also considers concepts related to BPM such as
workflow management and straight-through processing (STP).
The framework for BPM proposed in this Research Note can readily be adapted to reflect the needs
and nuances of each financial services sector. TowerGroup's purpose in offering a definition and
framework specific to financial services is to provide financial institutions with a logical starting point for BPM initiatives. A project may require all the components of each layer of the framework or just
a subset, but by using a framework, FSIs can begin their BPM project scope and definition phases
with greater confidence. No one layer of the framework is more important than any other; the
transformative power of BPM comes from using all of the layers in a cohesive and coordinated
manner.Table of Contents - TowerGroup Take-Aways
- Report Coverage
- Background
- Exhibit 1: Enterprise Processes Are Composed of Local Processes
- Exhibit 2: BPM Framework Consists of Four Interdependent Tiers with a Base of Management Support Services
- Management Support Services
- Exhibit 3: Components of the Management Support Services Layer
- Strategy Development
- Organizational Development
- Business Process Reengineering
- Systems Integration, Project Management, and Implementation Services
- Enterprise Architecture
- Exhibit 4: Components of the Enterprise Architecture Layer
- Middleware
- Enterprise Application Integration Services
- Web Services
- Process Management
- Exhibit 5: Components of the Process Management Layer
- Process Modeling Environment
- Process Mapping Tools
- Process Simulation Environment
- Business Process Repository
- Process Execution
- Exhibit 6: Components of the Process Execution Layer
- Business Activity Monitor
- Workflow Management Systems
- Exception Management
- Business Rules Module
- Content Management
- Imaging, Forms, and Document Management
- Summary
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