Business Process Management -- what's all the fuss about?

October 2004
Management Services;Oct2004, Vol. 48 Issue 10, p7
Academic Journal
This article focuses on Business Management Process (BMP) used in various financial institutions in Great Britain. Since major financial institutions have started to look again at their customer-facing procedures, BPM has become the champion of the global market. New research is showing that companies who have started to implement BPM in the past few years are already beginning to bring the benefits it offers not just to themselves, but also to their customers. No less than 95 percent reported improved productivity and service quality that exceeded expectations. Karen Forte, the head of information technology at Allianz, reported that their Claims Processing Division has been revolutionized by the implementation of BPM technology. The company has experienced an 80 percent increase in efficiency. Meanwhile, a conference produced by IQPC to be held from November 15 to 16, 2004 in London, England will provide the changes in management needed for the implementation of BPM, such as commitment retention and performance management tools. Case studies from Citigroup, Capital One, Lloyds TSB, Barclays and Bank of America, to name a few, will be presented at the conference. In addition, Steve Towers of BPM Group will offer guidance on business management.


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