Product Type: Market Research Report
Published by: TowerGroup
Published: November 2006
Product Code: R301-1214Description Business process management (BPM) initiatives can provide a return on investment (ROI) in singular projects and in broad, enterprise-wide engagements resulting in improving the methodology of business change. FSI case studies of BPM initiatives demonstrate dramatic improvement in operations. Simply understanding and changing existing processes can increase efficiency by 30%. BPM projects have succeeded in improving customer responsiveness by 60% and decreasing the time needed to conduct internal processes by as much as 75%. Management commitment, visibility and support is critical in assuring success of BPM initiatives.
Table of Contents
- TowerGroup Take-Aways
- Report Coverage
- Evolution of BPM in Financial Services Institutions
- Exhibit 1 Stages in the Evolution of Business Process Management
- Early Initiatives: Workflow, Reduced Duplication
- Opportunity Targets: Cost, Consolidation, Efficiency
- Holistic BPM: Evangelized Successes
- Exhibit 2 Business Process Management: Before and After Underwriting Process at Chubb Commercial Insurance
- Strategic BPM: Corporate Vision
- Exhibit 3 Before and After Business Process Management: Customer Intake Time at a Global Insurance Company
- Differentiation: Customer Experience
- Exhibit 4 Umpqua Bank's Compound Annual Growth Rates by Key Banking Measures (2001-05)
- Call to Action
- Summary
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