This white paper showcases how a business process management workflow can contribute to the success of Six Sigma projects, which are part of the strategic process improvement framework in an enterprise, by automating project tracking.
This paper will also provide insights for managers of other types of projects who have limited resources and are considering a low‐cost solution for tracking the progress of their projects based on standardized stages, milestones, and phases. In this paper, we will also discuss how process workflow can help control the pacing and timing of project delivery, as well as provide a way to store and access critical project information.
Due to emerging market demands, banking has to keep up to date and continually deliver more value. This includes such things as being able to deliver IT‐enabled front‐end solutions that can make banking and financial services for loans, credit cards, negotiable instruments, and so on easier, faster and more accurate for clients. The back‐end operations also need IT‐enabled tools to handle the incoming transaction volume, and to manage efficiency and productivity in processing actions. Because of these demands, a bank's IT unit is often very much pre‐occupied with developing strategic and mission‐critical applications for clients and for the bank's operations.
However, there are also other supporting units in the bank who have not‐so‐mission‐critical requirements; for example, to provide employee services, support business units’ administrative services, and develop other business initiatives. Projects such as creating processes for new employee on‐ boarding and off‐boarding, for purchasing from requisition to delivery, for tracking corrective actions, and the like are delayed or shelved because IT puts mission‐critical projects at the top of their priorities. These kinds of projects do not disappear as time goes on, because they are genuinely needed.
They can provide real benefits such as time savings for support units, reduction in overhead labor cost, and may even also help in risk reduction. But as there is strong competition within the bank for limited IT‐resources to deliver much‐needed technology‐enabled solutions, support units’ needs are too often are not addressed and the project list for IT keeps getting longer and longer. The projects mentioned above are generally automated process tracking which could be addressed by BPM workflow tools.
They don't need the same type of complex data querying that banking financial systems require. All they basically need is automation that will enable streamlining, and tracking flows or information passed among the various handlers, reviewers and approvers of the different business units they support. (...)
See how BPM is being used for a Six Sigma project tracking system in a large bank, implemented without intensive IT support.
Six Sigma project tracking using processes designed and deployed with Bonita BPM, with specific examples useful to other projects with standard milestone planning and execution. An effective Rapid Application Development solution which use low code approach.