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The journey started about a decade ago when a multinational financial services company with $1.2 trillion in assets under management, team and operations in more than 50 countries worldwide decided to launch a business process management (BPM) initiative. The goal was ambitious: transform how the company conducted business and interacted with customers. The project began in the company’s Private Banking division.
However, it soon became apparent that this approach would not meet primary business objectives. Although a significant effort was put into creating team approximately 120,000 business process flow charts and publishing them for general team employee access, the majority of these processes were out of date by the time they were mapped team and the system had no way to correlate data or make visual comparisons. To make matters worse, the mapping was done by external consultants who had no hands-on experience with the business.
“It was a valuable learn