Video: Financial Services Excellence through BPM Software
Edward Hughes, Appian’s Senior Vice President of Worldwide Sales, recently spoke with Lisa Valentine of FSOkx about the driving trends in BPM software and how they can help financial services institutions (FSIs) transform their businesses. FSO recently named Appian the premier vendor for BPM solutions in financial services in their 2011 Excellence Awards.
Mr. Hughes discussed how Appian allows financial firms to deliver innovative capabilities cost-effectively to any desktop or mobile device, and why FSIs should consider new BPM delivery methods.
In the video, Mr. Hughes describes BPM as one of the most dynamic and fastest-growing sectors in all of enterprise software. Proof of BPM’s maturity comes in its focus on the three areas that are re-defining IT: cloud delivery, enterprise mobility and social collaboration.
Mr. Hughes echoed analyst predictions that cloud will become the dominant platform for application delivery in the next 5-10 years. For FSIs, he said, the reduced total cost of ownership and continued enhancements to cloud platforms is driving a move to the cloud for mission-critical applications.
As regards enterprise mobility within financial services, Mr. Hughes cited increasing pressure from employees and customers to move business application functionality to mobile devices. Industries such as financial services that have a broad and distributed field force are among the first to understand the service delivery and operational effectiveness benefits of mobile BPM.
While he made the point that mobility and social collaboration are different, the two can be linked. Social technologies can unlock the hidden intelligence in an FSI, generating more agility and innovative solutions to customer and operations issues. But the Facebook-style exchanges we are all used to only take on business value when they are anchored in business events and outcomes. Social BPM ties underlying business processes and applications to a collaborative interface. Putting that interface on a mobile device means new ways to run processes, handle cases, access real-time data, and respond to market changes.
Mr. Hughes also shared a few BPM best practices for FSIs. Remember, he said, that BPM is a transformational technology, so effective change management is a must to ensure adoption, use and success. When starting out, looking for the right type of first project: one that is strategic enough to deliver real value, but that can be rolled out rapidly enough to maintain executive attention and sponsorship.
Watch the video to hear more.
-Ben Farrell, Director, Corporate Communications