Authored on: Aug 29, 2014
At the close of 2008, after the tumultuous financial crisis afflicting Wall Street, a leading U.S. bank had completed U.S. government sponsored acquisitions of a prominent investment bank and a large mortgage lender. Through these acquisitions the bank had become a much larger organization with many areas of redundancy, including what they had determined to be a bloated technology infrastructure and headcount levels.
In order to improve efficiency, reduce headcounts and manual operations, the bank identified several critical factors:
1) How can we quickly and accurately gain an understanding of how our processes operate today?
2) How do we measure the performance of our current processes and find the inefficiencies?
3) How can we compare operations, and do all of this quickly?
Automated Process Discovery (APD) technology was selected to help the bank tackle these problems. APD is an advanced process discovery technology that performs off-production analysis of existing business processes. Providing visualizations of typical flows, repetitions, and loopbacks, APD identifies process inefficiencies and bottlenecks where they exist and highlights the right processes for improvement and optimization.