“You can’t improve what you can’t see.”
Head BMP Capabilities
“This is why the solution iGrafx is so important to us. If we didn’t have the system, how could we demonstrate that we were making genuine improvements?”Head BMP Capabilities
In today’s post, we come again from the hand of tmdrive to show another successful experience of iGrafx, one of the most powerful process modeling tools on the market, which allows us to analyze any type of organization and drive its improvement.
After the last iGrafx Use Case related to the SAP Implementation Methodology, this time we show you a new use applied to banking. In this new publication, we want to share with you how to ensure a good analysis and comparison of the company’s data to achieve a more efficient decision making.
With iGrafx’s ability to centralize and compare processes, it is possible to achieve the most suitable solution for the company. This is confirmed by the protagonist of this article, a Multinational Bank, which has adopted iGrafx to control its processes and analyze its data to improve its profitability.
A decade ago, when this multinational financial services company had millions of dollars in assets under management and operations in more than 50 countries, it decided to launch a business process management (BPM).
The goal was ambitious: to transform the way the company did business and interacted with customers.
Thanks to this initiative, they were able to solve the problems they had in their processes and make simpler and more effective decisions through visual comparisons. All thanks to the use of iGrafx and the integration of all business information in the processes.
WHAT PROBLEMS EXISTED BEFORE YOU WENT WITH IGRAFX?
- One of the first problems encountered was that, after creating about 120,000 flowcharts, most of them were out of date by the time they were made and there was no way to correlate data or make visual comparisons.
After this first failed phase, a new initiative was proposed, in which it was first necessary to understand the performance of the business and then decide on actions, which were finally centralized in a single tool.
- Another major problem was that the company’s business systems had multiple technology and business silos, each with different storage systems and data formats. Because of this, it was difficult to obtain reliable information about operations.
It is essential for a company to be able to obtain valid comparisons, in order to achieve its efficiency objectives and obtain reliable KPIs.
“With the iGrafx solution, I can get answers. At a high level, it gives us valuable comparisons, so we can effectively analyze what we are doing in the company. On everything. […]What we’re doing right now with the iGrafx solution, we couldn’t do with any other tool on the market. “
Head BPM Capabilities
WHAT SOLUTIONS DID THEY FIND AT IGRAFX?
iGrafx allowed them to define key performance indicators, design a dashboard, extract data from systems, map processes and simulate process optimization options. And with this information, any objective is measurable and improvable, so the Bank was able to establish different KPIs against which it could measure and drive improvements.
As a brief example, we can see how the organization set out in the short term to reduce travel expenses. After setting up KPIs in iGrafx and extracting data from different systems, they detected that it was common to book tickets close to the flight dates. With this information, actions were taken to improve travel management and achieve the goal of reducing costs.
Another example was the solution presented in Human Resources. After monitoring and analyzing the performance of outsourced service delivery centers, it was observed that these centers were performing poorly, so the department was brought back in-house. A solution that had never been considered cost-effective up to that point.
HOW DOES IGRAFX ACHIEVE ALL THIS?
With the start of the new initiative after the failures of the first phase, each department was able to choose which tool best solved their problems, and they all agreed on iGrafx.
“The company does not mandate specific BPM tools. Instead, each division or department must decide which tools best address its own needs. By word of mouth, one solution (iGrafx®) has begun to stand out from the crowd.”
Head BPM Capabilities
A major benefit it offered them was the ease of use, so you could hand the tool over to subject matter experts, have them draw their processes, create dashboards and scorecards without the need for IT.
In addition, iGrafx helped them define metrics, risks and resource allocation. They could also make valuable comparisons, leverage dashboards, scorecards and easy-to-use KPIs for decision making.
Thus, the tool was used not only in central processes, but also in other areas such as Investment Banking and Human Resources.
WHO CAN BENEFIT FROM THESE SOLUTIONS?
All those companies or organizations that want to make visual comparisons of their processes, analyze their data and make the decisions that best suit their company based on these analyses and comparisons.
- All financial departments of companies.
- Companies that handle large volumes of data.
- Business and process analysts.
- Management departments that make decisions.
- Process owners who want to make comparisons.
- Project Management.
If you want to know more you can contact us and we will give you information without any commitment!