Blog
Business Process Management
Business Process Management (BPM) appears to be moving to the front burner once again. I see both current and potential clients “getting back to basics” and devising plans for improving their overall business processes. They are looking for new, creative and timelier ways of identifying and managing operating risk while improving productivity and overall controls. The objectives, of course, are to lessen the chance of costly errors, maintain an effective and efficient operating environment and increase capacity. Every week we receive inquiries asking how our consulting experience in this area and our proprietary software application might help in achieving these objectives. Specifically they are seeking a firm that has not only theoretical but hands on experience, both buy side and sell side, in the following areas:
- Conducting formal assessments of operating risks, identification of control points and providing recommendations for improvement.
- Client on-boarding (flight-to-quality assurance)
- Reconciliations, i.e., process reviews and/or actually performing reconciliations
- Business analysis and acting as Subject Matter Experts (SME)
- Development and building of documentation, process, workflow, and control points.
- Broker/Dealer , Custody and Cash clearing
BPM, however, is no magic bullet. There is no magic bullet or substitute for a thoughtful, experienced and diligent approach to addressing this problem and one that includes a method for ensuring continuous improvement.
For more information on the added value and perspective that the operations professionals at Market ResolveSM bring to bear in helping you achieve these objectives, please call me, John Carlisle in New York at 212-209-3806.
For further information on BPM, the following websites may be useful:
About the Author: John Carlisle, President and Managing Partner at Market Resolve
