Taxonomy and Reference Data Provide Foundation for BPM
Sagence designed a business process management framework for a global investment bank, enabling the company to meet strategic goals across the enterprise.
For two years one of the world’s most successful investment banks attempted but failed to improve their exception workflow processing capabilities. The company’s lack of business process management and automation coupled with poor data quality hampered their ability to meet strategic business goals of increased efficiency, flexibility, and scale. Reference data concepts related to the organization and resulting workflow were managed at a manual or local application-level without enterprise architecture blueprints or governance processes. This led to further inefficiencies and an increase in resource utilization.
Additionally, the client’s reporting practices cobbled together a brittle web of emails, spreadsheets, and organizational charts and could not meet mounting regulatory requirements for transparency.
Taking into account the highly mobile (both geographically and role-based mobility) culture of the firm, Sagence created a business process management framework and work item routing system based on a formalized taxonomy and organizational reference data store that defined the structure, individuals within the organization, and their roles and responsibilities. This intelligent workflow solution addressed business processes, enterprise data designs, governance, organizational roles and responsibilities, guiding principles, and a prioritization process for roadmap development.
The business process management framework and work item routing system provided the operations organization with a foundation to automate much of the workflow related to exceptions management. This process previously consumed a large percentage of productivity within the 4,000+ person firm. The results included new capabilities for scaling, streamlining, and monitoring business processes and activities across the global organization. The new BPM also played a significant role in our client’s ability to meet strategic business goals of increasing efficiency, flexibility, and scale.