Process Transparency and Management
Corporations are now required to visualize, document and thoroughly manage processes to accommodate the implementation of internal controls, J-SOX, BPM, PCI and repeated legal amendments. We have recently come across cases where business processes and workflows are visualized and managed via external systems, but the following problems still remain.
The need for active management with direct connectivity to mission-critical systems goes beyond process transparency and workflow
Process management as required by rules and regulations, must include the management of process change, establishment of new processes and verification of processes. Ultimately, transparency in processes and workflows with direct connectivity to mission-critical systems (business core system where business rules are defined) will be critical to enable corporations to accurately change, establish and verify their processes according to business rules.
Automated documentation
Documentation (the creation and maintenance of documents) is troublesome for both corporations and vendors and requires much effort. Unless documentation is performed properly, both systems and processes will become "black boxes" somewhere along the line.
Automation and optimization of process management
It is said that there are 1.8 million different process scenarios for banks. Process management incurs enormous cost unless a certain level of automation and optimization is performed by software.