So you want to learn more about BPM? You've come to the right place.
Business Process Management, best known by the acronym BPM, is a fairly new discipline used mainly to analyze, improve and automate businesses internal operations. It has been adopted by several companies along multiple productive sectors, mainly in those that specialize in services or are closely related to the advancement of technology. Even though it is being adopted by more corporations around the world every year, it still hasn't seen full implementation in the market, mainly due to a general lack of knowledge towards the subject.
The value of business process management
At its most basic level, BPM is just a particular viewpoint, which considers the processes of the company as a valued asset, and therefore must be fully understood, carefully managed and continuously developed to achieve added value for the products and services offered to the clients. Even though this goal can be obtained by traditional means, the recent technological advancements(particularly those focused on data analysis, Artificial Intelligence and automation) allow corporations to exploit their true potential, especially in sectors like finance and banking.
All the modern banking institutions share the same common banking challenges, those which inherently arrive with handling the money of hundreds, thousands of persons. Two tasks can quickly become a problem or hindrance to any financial institution, if their systems aren’t working to their best capacity, and these are: Account Opening and Credit Origination. The sheer number of operations that fall into these two categories is enough to create a bottleneck if everything else isn’t running as efficiently as possible.
A technologically-enabled BPM system allows banking corporations to better manage their processes, but it doesn't stop there. It also facilitates the compilation of real-world data for:
- Monitoring the current performance of the company
- Trying out new models based on previous information before full-scale implementation
- Applying radical but seamless changes (even those which re-engineer the whole workflow) in a matter of seconds.
Efective account origination
Let’s take Account Origination as an example. It’s a fairly simple task, which allows banks to register new clients into their system. However, it must be done perfectly to avoid bad experiences or mistakes which can hurt the company's market share. This problem is so common, that we at BeeckerCo have been perfecting the implementation of BPM-powered tools for over half a decade, precisely for this purpose. Our experience, coupled with our technological partnership with IBM, has allowed us to create better instruments, better practices and better quality software for our AAA buyers. The peak of these achievements is our robot, BeBOP.
BeBOP is the acronym for BeeckerCo Banking Origination Process, a packaged software made specifically to address two of the main pain-points in the banking sector: Account Opening and Credit Origination. This robot was designed by the regional company under IBM’s exclusive partnership program, which is available only to the very best companies and businesses in the world to achieve “unmatched expertise and leading-edge solutions” in fields like Security, Services, Internet of Things, Analytics Solutions and Global Financing.
If you'd like to learn more about how BeBOP can help your business with the common problems found in core banking systems, especially in regards to Account Opening and Credit Origination, we encourage you to get your free trial of BeBOP.