IBM Case Studies An IBM solution for business process management helps organization save USD1.5 million annually

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	An IBM solution for business process management helps organization save USD1.5 million annually IBM

An IBM solution for business process management helps organization save USD1.5 million annually

IBM

Technology Category	Analytics & Modeling - Process Analytics Application Infrastructure & Middleware - API Integration & Management
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Process Control & Optimization Regulatory Compliance Monitoring
Services	Software Design & Engineering Services System Integration
Challenge	The IT applications department at this company had an aggressive roadmap for improvement, including plans to reduce manual processes. The organization’s change request process for financial reference data was manual and labor-intensive, requiring staff to update and exchange spreadsheets by email. There was no process for gaining the necessary approvals for requested changes, which sometimes resulted in employees making revisions without key stakeholders’ approval. The company needed a BPM offering to automate this key process. Read More
About Customer	This organization is one of the world’s largest insurance and financial services companies, with more than USD135 billion in statutory assets. It is headquartered in the United States. The IT applications department at this company had an aggressive roadmap for improvement, including plans to reduce manual processes. The organization’s change request process for financial reference data was manual and labor-intensive, requiring staff to update and exchange spreadsheets by email. Read More
Solution	The business worked with IBM Software Services for WebSphere to implement its new change request process for financial reference data using IBM Blueworks Live™, IBM Business Process Manager and IBM Operational Decision Manager software. The project began with an IBM Quick Win Pilot for Business Process Management project and then finished with a fully functional BPM offering in production. The company integrated the BPM solution with its Oracle-based reference data tool. The organization migrated data from several data management systems onto the new IBM solution, enabling the business to retire several systems. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Process Analytics

Application Infrastructure & Middleware - API Integration & Management

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Process Control & Optimization

Regulatory Compliance Monitoring

Services

Software Design & Engineering Services

System Integration

Challenge

The IT applications department at this company had an aggressive roadmap for improvement, including plans to reduce manual processes. The organization’s change request process for financial reference data was manual and labor-intensive, requiring staff to update and exchange spreadsheets by email. There was no process for gaining the necessary approvals for requested changes, which sometimes resulted in employees making revisions without key stakeholders’ approval. The company needed a BPM offering to automate this key process.

About Customer

This organization is one of the world’s largest insurance and financial services companies, with more than USD135 billion in statutory assets. It is headquartered in the United States. The IT applications department at this company had an aggressive roadmap for improvement, including plans to reduce manual processes. The organization’s change request process for financial reference data was manual and labor-intensive, requiring staff to update and exchange spreadsheets by email.

Solution

The business worked with IBM Software Services for WebSphere to implement its new change request process for financial reference data using IBM Blueworks Live™, IBM Business Process Manager and IBM Operational Decision Manager software. The project began with an IBM Quick Win Pilot for Business Process Management project and then finished with a fully functional BPM offering in production. The company integrated the BPM solution with its Oracle-based reference data tool. The organization migrated data from several data management systems onto the new IBM solution, enabling the business to retire several systems.

Impact #1	By retiring several systems, the company saves USD1.5 million in annual maintenance costs. Instead of relying on ad hoc processes for change requests for financial reference data, each line of business (LOB) has a data steward that interfaces with the centralized data governance team within the finance department. The data stewards make the requests, and the data governance team approves and implements them. One of the biggest benefits is the ability to track requests and approvals, helping ensure that key stakeholders are aware of requested changes. Plus, the business makes changes much faster because the process is more automated. Lastly, because a centralized group manages changes, the organization handles them more consistently.

Impact #1

By retiring several systems, the company saves USD1.5 million in annual maintenance costs. Instead of relying on ad hoc processes for change requests for financial reference data, each line of business (LOB) has a data steward that interfaces with the centralized data governance team within the finance department. The data stewards make the requests, and the data governance team approves and implements them. One of the biggest benefits is the ability to track requests and approvals, helping ensure that key stakeholders are aware of requested changes. Plus, the business makes changes much faster because the process is more automated. Lastly, because a centralized group manages changes, the organization handles them more consistently.

Benefit #1	The company saves USD1.5 million in annual maintenance costs.

Benefit #1

The company saves USD1.5 million in annual maintenance costs.

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Overview

An IBM solution for business process management helps organization save USD1.5 million annually

Operational Impact

Quantitative Benefit