Business Process Management (BPM)
Integrate Process to support Strategic Objectives
ICRMS delivers operational excellence for its clients' with a focus on domain knowledge and technical skills to ensure that every business process is as lean and streamlined as it can be.
We help our clients' by:
While many companies do not distinguish between workflow and BPM, the difference between the two concepts is immense.
- Delivering an integrated business process that supports the company's strategic objectives;
- Creating a process and data oriented workflow system that eliminates non-value added steps and goes well beyond the traditional concept of a workflow;
- Meeting regulatory reporting requirements with simple solutions.
Workflow vs. BPM
Workflow merely moves data or documents from user to user in a series of steps that prompt the user to perform an activity or provide approval for the process to continue.
While traditional data and document oriented workflow has value, it can do nothing to ensure that the process is optimised for the company's purposes and its unique organisation.
ICRMS BPM, on the other hand, dissects the process and examines each step in light of the company's strategy and organisational structure.
Each step in the process is weighed against its benefit to ensure that non-value added activities and waste are removed from the process. The result is a leaner, more streamlined process that enables the company to achieve significant operational efficiencies.
Better Regulatory Compliance
Unlike generic workflow, ICRMS BPM takes regulatory requirements into account and looks at integration with any necessary third party systems and applications. The result helps organisations to meet the requirements for Basel II and other risk management standards.
ICRMS BPM includes document management capabilities as well, to ensure that documents are stored and archived according to policy and government regulations. In addition, documents can be checked in or checked out, and revisions and changes can be easily tracked.
Metrics, KPLs and Performance Monitoring
Part of business process management, ICRMS facilitates the clients' in establishing metrics for ensuring that the process is achieving optimal performance.
Monitoring actual performance of key processes helps to improve planning since strategic and operational plans can be developed to conform to actual achievable results.
ICRMS BPM approach provides the client with the ability to monitor KPIs and metrics to ensure that a process is on target or continually improving and thereby ensuring that the company achieves the operational efficiency it needs to remain competitive in its market.
Lower Risk and Losses
ICRMS help its clients' to lower risk and potential losses by ensuring consistent application of policies and requiring multiple levels of approval for overrides.
ICRMS also helps clients' with risk-adjusted pricing that helps ensure the company is adequately compensated for shouldering the risk of certain transactions, and better risk tracking and management results in better reporting that can help improve forecasts and projections.
ICRMS ensures clear segregation of duties and exception approvals, well-designed business processes resulting in better regulatory reporting that shows a clearer picture of the company's actual operational results.
The improved controls ensure compliance and also help the company to manage costs more effectively.