Process Mapping vs. Documentation: What You Need to Know?
Imagine you’re in a college lecture where your professor verbally explains some processes. You have a textual document to refer to the same. Do you understand the process well? The answer is No. In the same context, imagine you have a pictorial representation of the process your professor verbally explains. Will you understand the process […]
Why is it essential for financial institutions to offer digital business models and excellent customer service?
“Go Digital” is a trendy slogan resonating all around the world. For most sectors, it has been a cakewalk to adopt digital transformation. However, for financial institutions, the process is slow. With the world advancing faster toward digitalization, it is high time for financial institutions to adopt digital business models. Today with technological advancements and continuous innovation, […]
What is the significance of digital security in the finance and insurance industry?
Safety and security is one of the critical aspects of the finance and insurance industry. Today, with the increase in technological advancements and the world ultimately going digital, data is seriously threatened. The finance sector primarily functions on confidential and sensitive data. Hence, digital security in the Finance is essential to every financial institution. The surge of […]
What role does regulatory compliance play in the industry?
Have you ever imagined your life without rules and regulations given by your parents? You will be thinking that it can be thrilling or exciting. However, the truth is that the thrill will last only for a few hours or days, and you will return to being confused and landing into unnecessary problems. The idea […]
What factors are putting additional pressure on the industry in 2023?
The growth of the finance industry has been gradual yet significant. The finance sector was the most underdeveloped one before the advent of the internet and technology. Digital transformation has modernized the financial services industry. However, factors always affect businesses that bring challenges into the industry. Many external and internal factors affect the banking and financial services […]
What are the driving forces behind transforming the banking and financial services industry?
Change is the key to success. With evolving times, many things change constantly. Nowadays, the most common change is digital transformation in different sectors of the world. Today, one of the most prominent digital transformations is happening in the banking and financial services industry. The world has moved from wired telephones to wireless compact smartphones […]
What is a Business Process – Definition, Types, Characteristics, Importance, and Lifecycle
Business processes are an integral part of business organizations. Companies or businesses cannot operate properly or succeed without implementing structured processes. Structured processes are the way to keep business operations organized, transparent, and consistent among teams and assist businesses in meeting their goals and objectives. So, in this article, let’s dig deeper into the subject […]
Top 10 BPM Best Practice Proven Effective In Businesses Of All Sectors
Business performance is the epitome of its brand image and eventually helps it avail success in the long term. The rise of business process management is quite evident in all industries. But, if you think that business process re-engineering and business process management are the same, then you are living in a myth. We are […]
Business Process Mapping Pitfalls
Business process mapping Pitfalls is a valuable tool for companies looking to improve their operations and streamline their workflows. By visualizing the steps involved in a particular process, businesses can identify bottlenecks and inefficiencies, as well as opportunities for automation and optimization. However, like any tool, business process mapping has its limitations and potential pitfalls. In this […]
How to Boost Productivity through Business Process Transformation?
We all know the importance of business processes in an organization. Business processes form the core of any company’s functioning, operations, and success. From the start of a business, different processes are identified and understood. These processes are managed using various tools or done manually. There are times when entrepreneurs must bring some changes in their business […]