Nintex Case Studies Modernizing Fintech Business Processes with IoT

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	Modernizing Fintech Business Processes with IoT Nintex

Modernizing Fintech Business Processes with IoT

Nintex

Technology Category	Cybersecurity & Privacy - Security Compliance Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries	Food & Beverage Life Sciences
Applicable Functions	Quality Assurance
Use Cases	Leasing Finance Automation Regulatory Compliance Monitoring
Challenge	A global biotechnology company, with divisions focusing on animal and food safety, genomics research, life sciences, and toxicology, was struggling with an 'old school' system of email and paper forms. This system made processes complex and time-consuming, leading to extended approval processes and a high probability of error. The company needed to meet stringent requirements not only for each line of business, but also compliance across local, state, and federal government agencies both in the U.S. and globally. The company initially relied on Microsoft SharePoint to improve collaboration, but soon realized they needed a low-code process automation platform to ensure end-to-end workflows were meeting the requirements of the business. Read More
About Customer	The customer is a global biotechnology company with divisions focusing on animal and food safety, genomics research, life sciences, and toxicology. The company operates both in the U.S. and globally, and it needs to meet stringent requirements not only for each line of business, but also compliance across local, state, and federal government agencies. The company was previously using an 'old school' system of email and paper forms, which made processes complex and time-consuming. The company's goal was to bring critical food and safety products to market faster while ensuring regulatory compliance. Read More
Solution	The company decided to implement Nintex K2 Five, a low-code process automation platform, to transform its email and paper-based processes into digital and automated workflows. This allowed the company to achieve a digital transformation of processes, providing tighter standardization and increased user productivity. The team was able to make and fulfill requests easily using K2 Five forms and workflows. The company also automated its rigorous regulatory and compliance procedures using K2 Software SmartForms and workflows with different stages of approvals based on a variety of parameters. For instance, if it is an initial request for a foreign country, it needs to go through a different approval process than if it were domestic, while a state request is another approval process—all of which is configured within the form and specific SharePoint list. Read More Log in to view content
Contents

Technology Category

Cybersecurity & Privacy - Security Compliance

Platform as a Service (PaaS) - Application Development Platforms

Applicable Industries

Food & Beverage

Life Sciences

Applicable Functions

Quality Assurance

Use Cases

Leasing Finance Automation

Regulatory Compliance Monitoring

Challenge

A global biotechnology company, with divisions focusing on animal and food safety, genomics research, life sciences, and toxicology, was struggling with an 'old school' system of email and paper forms. This system made processes complex and time-consuming, leading to extended approval processes and a high probability of error. The company needed to meet stringent requirements not only for each line of business, but also compliance across local, state, and federal government agencies both in the U.S. and globally. The company initially relied on Microsoft SharePoint to improve collaboration, but soon realized they needed a low-code process automation platform to ensure end-to-end workflows were meeting the requirements of the business.

About Customer

The customer is a global biotechnology company with divisions focusing on animal and food safety, genomics research, life sciences, and toxicology. The company operates both in the U.S. and globally, and it needs to meet stringent requirements not only for each line of business, but also compliance across local, state, and federal government agencies. The company was previously using an 'old school' system of email and paper forms, which made processes complex and time-consuming. The company's goal was to bring critical food and safety products to market faster while ensuring regulatory compliance.

Solution

The company decided to implement Nintex K2 Five, a low-code process automation platform, to transform its email and paper-based processes into digital and automated workflows. This allowed the company to achieve a digital transformation of processes, providing tighter standardization and increased user productivity. The team was able to make and fulfill requests easily using K2 Five forms and workflows. The company also automated its rigorous regulatory and compliance procedures using K2 Software SmartForms and workflows with different stages of approvals based on a variety of parameters. For instance, if it is an initial request for a foreign country, it needs to go through a different approval process than if it were domestic, while a state request is another approval process—all of which is configured within the form and specific SharePoint list.

Impact #1	The implementation of Nintex K2 Five has led to a significant transformation in the company's business processes. The company has been able to automate its workflows, reducing the complexity and time-consuming nature of its previous system. This has not only reduced errors but also freed up employee time to focus on customers. The company is now able to meet its stringent regulatory requirements more efficiently, and bring its products to market faster. The digital transformation has also led to tighter standardization and increased user productivity, further enhancing the company's operational efficiency.

Impact #1

The implementation of Nintex K2 Five has led to a significant transformation in the company's business processes. The company has been able to automate its workflows, reducing the complexity and time-consuming nature of its previous system. This has not only reduced errors but also freed up employee time to focus on customers. The company is now able to meet its stringent regulatory requirements more efficiently, and bring its products to market faster. The digital transformation has also led to tighter standardization and increased user productivity, further enhancing the company's operational efficiency.

Benefit #1	50 workflows automated
Benefit #2	Reduces errors
Benefit #3	Frees employee time to focus on customers

Benefit #1

50 workflows automated

Benefit #2

Reduces errors

Benefit #3

Frees employee time to focus on customers

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Overview

Modernizing Fintech Business Processes with IoT

Operational Impact

Quantitative Benefit