Recent research: GMA SOA “Using Process and Service Models to Help Transform Business Processes in Financial Services

GMA SOA “Using Process and Service Models to Help Transform Business Processes in Financial Services

Author: Marcia Kaufman, COO and Principal Analyst; Dr. Fern Halper, Partner; Judith Hurwitz, CEO

The most successful companies in this very process-intensive sector have recognized that consistent, efficient, and repeatable business processes are a required foundation for meeting their goals for growth and innovation.

Financial services organizations faced with increasing competitive pressures are looking for innovative approaches to leverage their strategic assets. Many companies are looking to implement industry best practices to enable the business to increase revenue, attract new customers, and offer new products – without increasing expenses dramatically. The most successful companies in this very process-intensive sector have recognized that consistent, efficient, and repeatable business processes are a required foundation for meeting their goals for growth and innovation. Hurwitz & Associates recommends that organizations select routes to business innovation by improving efficiencies based on identifying common processes. Because this is by no means an easy task for a large financial services organization, it must be approached in an incremental way. To understand the impact of process on financial services companies, it is helpful to look at some examples.

Sponsor: IBM