The Power of Data-driven Decision-making, Enabled by Visibility?
What we’ve seen over the decades, as consultants and executives, is that everything comes down to decision-making. Decisions can make or break businesses and careers. A big part of continually making the right decisions comes down to gathering, managing and using data effectively to drive optimisation. But before any of this can happen, you need process visibility – which is where ProcessLab comes in.
We provide fast, end-to-end visibility of your business process(es).
Intelligent Process Management (IPM)
Celonis
Digital Solutions
What is Intelligent Process Management (IPM)?
IPM is a critical strategic capability and new way of working for organisations that want to radically improve their business. IPM harnesses new generation technologies (Celonis Process Mining, AI and machine learning) as well as deep industry experience to create a real-time X-ray of your business, revealing all end-to-end processes.
IPM enables organisations to identify, reengineer, automate, monitor and continually improve business processes with deep, data-driven insights (both system and user-generated).
Outcomes Our Clients Can Expect
- Making better, data-driven decisions
- Intelligent, real-time operational management capability
- Material efficiency gains and cost reductions
- Exceptionally fast analysis (AI & ML assisted) and depth of insight
- Investment and operational decisions informed by data
- Unprecedented, personalised service and insights
Intelligent Process Management (IPM)
Celonis
Digital Solutions
Celonis Process Intelligence?
Process Intelligence: the connective tissue of your enterprise, powered by Celonis’ industry-leading process mining technology. Process Intelligence connects you to your processes, your teams to each other, and AI to your business.
360° Real-time Data
100+ Process Connectors
Integrates data across systems, desktops, documents and event streams and creates a real-time, verifiable event log.
Process Intelligence
500+ Pre-built Apps
The EMS X-rays and analyses business processes to reveal inefficiencies, recommend improvements and unlock performance.
Targeted Action & Monitoring
1,000+ Integrations
To improve processes, Celonis automatically executes on insights and orchestrates your existing technologies.
Intelligent Process Management (IPM)
Celonis
Digital Solutions
Cross-border & Trade Payments
Cross-border and Trade Payments are Complex and Risky
Processing payments on behalf of their corporate and business clients is a core service provided by banks. So, when choosing a bank, clients prioritise a strong payments capability to ensure smooth financial operations.
The Challenge
The challenge for banks to provide competitively priced, transparent, predictable, efficient and effective payment services has increased exponentially: clients have global operations, regulators have increased pressure and demands, fintech entrants are fragmenting the value chain, the enabling technology landscape is ever-changing (including the complexity of legacy systems) and the risk of cyber threats has increased.
Enter Celonis
Celonis for cross-border payments and trade operations will accelerate a bank’s ability to delight clients with the ease of executing complex payments, ensuring on-time payments and clear visibility of the process. The cost of serving clients will be reduced, while simultaneously meeting regulatory requirements
BENEFITS
Clarity from Complexity
Integrates data across systems, desktops, documents and event streams and creates a real-time, verifiable event log.
Improved Customer Experience
Interactions with customers are simplified, payment statuses are communicated in real time and customers can be educated to improve their experience with the bank.
Reduced Operational Costs
Elimination of non-value adding and duplicate activities, along with automation in Celonis, reduce the cost to execute per transaction.
Reduced Regulatory Risks
Monitoring and reporting on regulatory requirements are automated and a clear control framework provides a real-time conformance perspective.
Quality at Source Drives Straight-through Processing
Our ultimate objective is to allow the banks’ customers to upload a source document (e.g. an invoice) and enable straight-through processing of payments in the most cost-effective, automated manner. The customer will have a great experience and all regulatory requirements will be adhered.
FEATURES
Insight to Action
Utilising the EMS platform, we provide fast visibility and insight into a complex process across multiple systems. We identify root causes of execution gaps and assist the payments operations teams to close the execution gaps with automations and payment prioritisation.
Recurring Payments
Banks treat all payments in a standard manner. Identifying recurring payments (i.e. the same customer pays the same beneficiary in the same currency multiple times) allows us to streamline the execution process. The bank should experience a reduction in cycle time and resources to execute these payments as they are often the majority of the payment volumes.
Case Study: Standard Bank
How Standard Bank Reduced Cost and Improved Cycle Time in Outward Cross-border Payments
“Celonis has provided a revolutionary new way of understanding our business-bottom up with data.”
Challenge
Lack of insight and transparency in the end-to-end process made it near impossible to provide customers with acknowledgment that the payment transfer was successful.
Solution
Real-time operational dashboards enabled the process to be managed effectively, reducing rework and bottlenecks and helping to migrate customers onto optimal channels.
Results
$2.4m Annual Cost Saving Identified
> 30% Reduction in Cycle Time
> 18% Increase in Payment Processing Capacity
SmartForm
Manual Processing is Still a Very Real Challenge in Banking Operations Today
Clients who are providing information, requesting services or initiating instructions for banks to execute are still commonly required to complete paper or digital forms. These forms typically require manual information capturing by the bank’s employees and some instructions require supporting documentation to ensure the validity of the transaction. Manual processing is prone to human error that compromises quality, completeness and validity of information and contributes materially to the cost base of banks.
Enter SmartForm
ProcessLab’s SmartForm is an eloquent solution that simplifies customer interactions, reduces human dependency to the absolute minimum and optimises processing exponentially. The SmartForm ensures that customers upload source documentation to initiate requests and instructions. When quality information is provided from the get-go, it ensures the successful execution of the request or instruction. Customer experience will improve significantly and the cost to serve will be reduced, while simultaneously meeting regulatory requirements.
BENEFITS
Improved Customer Experience
Customers simply upload their source documentation and validate the request or instruction – the rest of the process is executed accurately and timeously.
Quality at Source
Utilising source documents ensures accurate, complete and valid information from the first step in the process. Human effort is virtually eliminated.
Reduced Operational Costs
Elimination of human activities materially reduces the cost to execute requests and transactions.
Reduced Regulatory Risks
Monitoring and reporting on regulatory requirements are automated and a clear control framework provides real-time conformance visibility.
Quality at Source Drives Straight-through Processing
Our ultimate objective is to allow the banks’ customers to upload a source document (e.g. an invoice) and enable straight-through processing of payments in the most cost-effective, automated manner. The customer will have a great experience and all regulatory requirements will be adhered to.
Insight to Action
Utilising the SmartForm, alongside the Celonis EMS platform, we provide complete visibility and insight into a complex process across multiple systems. We identify root causes of execution gaps and assist the operations teams to process requests and instructions effectively and efficiently to close execution gaps with automations and prioritising payments.
Challenge
Manual transactions resulted in a disproportionate workload on the teams to complete and correct payment instructions.
Solution
The manual form was replaced by a SmartForm that ensured complete and accurate information on submission.
Results
$2.4m Annual Cost Saving Identified
> 30% Reduction in Cycle Time
> 18% Increase in Payment Processing Capacity