BPM traditionally has been a whiteboard where you can build your solutions with a pallet of tools to map out your process, but as Digital Transformation is evolving how companies conduct business, BPM is evolving too. So how do you reap benefits of BPM to expedite your digital transformation vision? This post will briefly explain the facets of evolving your usage of BPM tools to align with Digital Transformation, ultimately culminating in SaaS for BPM. It’s a four-part process, and different companies pick different places to start depending on their unique internal challenges:
- Whiteboarding/Single Solution
- Leveraging Toolkits/Accelerators in BPM community
- Augmenting my BPM purchase with additional products from the market place
- Leveraging a SaaS template
Whiteboard/Single Solution
There are plenty of reasons to start with a whiteboard:
- My line of business is unique; no documented standards live out there.
- Our company’s special sauce is better than anyone else’s, so I don’t what to buy into the norm.
- and so on..
My colleague, Austin Guyette, has just done a 5 part series on BPM a technology space. Part one and Part two cover the whiteboard (or tool) approach to BPM and the approach to BPM as a solution.
So how do you mature from whiteboard (tool) to a solution while not losing time to market?
Leverage Toolkits/Accelerators
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There are plenty of toolkits or accelerators out there in the marketplace, Perficient has its own suite of them called FireBolt, from coach views, to performance monitoring, to pre-built integrations. These accelerators are great but are they a SaaS solution? Not yet
Augment My BPM purchase with Additional Products
The next step is a framework built on top of the assets, which for Perficient is Trex. It is largest install base software product by vendors across the US. In Part three, Austin covers the key features of the framework. This tool allows your company to bring down time to market by doing the heavy lifting of creating all time-consuming items around UI, queues, portal, and task management in a nice clean concise presentation. Are we at SaaS solution yet? No, just at a very fleshed out PaaS.
Leverage a SaaS Template
So the question becomes, is there any industry-specific product built on the platform? Why would you need this, you ask?
- My company needs to be running as quickly and cheaply as possible.
- My company still wants that whiteboard and accelerators for future projects.
Introducing TreX in a Box. We currently have 5 core templates – and more coming – which Perficient can you get running within your company in 6-8 weeks from purchase. The templates have all your core business needs:
- Investor Services – Banking Industry (Brokerage) – Redemptions, allocation adjustments, client on-boarding, and transfer of assets. Read Part 4 for more details.
- Life Annuities Services – Life Insurance and Annuities – New business, account maintenance, annuities transfers, cashiering, and payment adjustments. Perficient, along with IBM’s Process Transformation team, is hosting a webinar on this template on February 15th. Register now to reserve your spot.
- Loan Services – Banking (Loans/Mortgage) – Loan documentation review, loan modifications, quality assurance, and closed-loan processing
- Account Maintenance – All industries – Account opening, linking and un-linking accounts, change of address, successor designation, policyholder services
- Property & Casualty Claims – Property and Casualty Insurance – Claims evaluation and adjudication
- *Energy Coming Soon*
Are we finally at SaaS with BPM? Yes. Feel free to contact me with any questions or additional information or comment below.
