Examining a business process management value proposition for the insurance industry.
As companies begin to look at BPM, the essential question they struggle with is "How does BPM fit into my existing architecture and technology stack?" Since most companies already have workflow, middleware and reporting platforms, among other components, BPM tools can seem redundant. The reality is that BPM is, in fact, an orchestration layer above all of these components. Additionally, BPM can fill an important role as an automation tool for manual or poorly structured tasks. The diagram below depicts the relationship between BPM and existing architecture components:
The key point to take away in understanding the role of BPM in your architecture is that it is, in fact, not redundant but complementary. It can provide truly valuable functionality to:
Automate manual tasks and coordinate data capture from loosely structured sources
Help enhance interoperability between traditional applications by providing human and systems task management across multiple systems
Provide near real-time metrics on end-to-end process performance.
Top IT Trends to Watch in Financial ServicesIT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
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