This research paper, which is based on interviews with a range of RFID providers, corporate users and experts, provides an overview of where RFID is likely to have the greatest impact over the next few years. It explores some of the problems companies face in exploiting RFID for commercial advantage, as well as the wider challenges faced by the RFID industry. RFID currently offers many benefits to a wide variety of industries.
Business process transformation aims to improve the efficiency of business operations by removing duplicate or unnecessary steps and automating as many processes as possible. It involves a radical rethink of what processes are and how they can best be executed. Financial services industries, which were protected for many years by regulatory barriers to the entry of new competitors, have been slow to streamline their operations along business process lines. Many business process transformation strategies involve outsourcing, and the politically sensitive topic of offshoring to low-cost locations such as India or the Philippines.